Borrowing can be a helpful solution for financial bottlenecks or larger investments. However, the question "What requirements do I need for a loan?" is often asked - and rarely answered clearly. In this article, we explain in detail how banks make decisions, which criteria must be met and which special cases exist.
Basic requirements for taking out a loan:
In order to be considered for a loan, potential applicants must fulfil certain basic criteria. These requirements ensure both the applicant's creditworthiness and the bank's risk.
- Age
- Minimum age: 20 years.
- Maximum age: 68 years.
- Residence
- The applicant must be resident in Switzerland or the Principality of Liechtenstein.
- Nationality or residence permit
- Swiss nationality or
- Residence permit B (temporary) or
- Permanent residence permit C (unlimited).
- Income
- Regular and secure income from a permanent, non-terminated employment relationship.
- Alternatively: old-age or disability pension.
- Minimum net income: CHF 3,000.
- Financial obligations
- No outstanding debt enforcement proceedings, loss certificates or seizures.
- Positive viability check in accordance with the Small Loans Act.
These requirements ensure the financial stability and legal suitability of the applicant.
Special cases of borrowing
Temporary workers often encounter difficulties when they want to apply for a loan. Many banks consider the risks associated with temporary employment to be too high and therefore often reject such loan applications.
Basic prerequisite for borrowing: To successfully apply for a loan as a temporary worker, you must fulfil the following conditions:
- Duration of employmentYou should have been employed by the same temporary employment agency for at least one year without interruption.
- Regular incomeIt is important to provide evidence of a regular income from this activity.
These requirements are crucial as they provide the banks with a certain degree of certainty that you will be able to repay the loan.
It can often be difficult for self-employed people to obtain a loan. Many banks see a higher risk in granting loans to the self-employed and therefore often reject such applications.
Basic requirements for borrowing: To apply for a loan as a self-employed person, you must fulfil the following criteria:
- IndependenceYou should have been self-employed for at least two years.
- Tax documentsA definitive tax assessment must be submitted.
- Minimum incomeYour annual income should be over CHF 40,000.
These conditions help the banks to assess the financial risk and ensure that you have the means to repay the loan.
Pensioners often face challenges when they want to apply for a loan. Many financial institutions require the loan debt to be settled before the age of 65. We, on the other hand, offer special credit options for pensioners up to the age of 68.
Basic requirements for borrowing: To obtain a loan as an AHV pensioner, the following conditions must be met:
- Minimum pensionYour monthly pension income should be at least CHF 3000.
- Freedom from debtYou should not have any outstanding debt collections.
These criteria ensure that pensioners have access to financial resources despite their age and can repay them responsibly.
IV pensioners often encounter difficulties when it comes to applying for a loan, as many financial institutions reject applications from IV pensioners. However, we offer special credit options for IV pensioners.
Basic requirements for borrowing: To successfully apply for a loan as an IV pensioner, you must fulfil the following criteria:
- Minimum pensionYour monthly pension income should be at least CHF 3000.
- Freedom from debtYou should not have any outstanding debt collections.
These conditions are designed to facilitate access to financial resources and ensure that IV pensioners have the opportunity to remain financially capable despite their limitations.
Unfortunately, loans for the unemployed not possible.
If you have a Cross-border commuter you are welcome to contact us. As Minimum requirement cross-border commuters have to
- at least 3 years in Switzerland
- 3 years be employed by the same employer.
Yes, you can together with your spouse or partner apply for a loan. Your partner must give his or her consent by signing the credit application, to provide the credit together. However, your partner does not act as Joint and several debtor in the loan agreement.
By including your partner in the budget, you may be able to achieve a higher loan amount at better conditions received.
No. We can only provide you with a Grant financingif you have your Residence in Switzerland or the Principality of Liechtenstein have. Persons who outside these countries receive from us no credit.
The length of stay in Switzerland must be at least 12 months, according to the date of entry stated on your residence permit is noted and a Unterminated and open-ended employment contract can demonstrate.
Please note that banks are not allowed to accept persons with an Astricter requirements for residence permit B as they often do not yet have sufficient payment experience.
Some financial institutions only grant loans to holders of a B permit after a period of residence of at least two years.
In principle, the following applies no credit is possible due to open debt collection.
With paid debt collections the likelihood of getting a loan is greater.
Read our blog post "Credit with debt collection". Find out more about this topic here.
In Switzerland, according to the Consumer Credit Act (KKG) not allowed to use a Bank loan without ZEK entry to grant you credit. For each credit check, your payment behaviour is checked against the Central Office for Credit Information (ZEK) checked. No Swiss credit bank will grant a loan if you have negative entries.
Ask the Central Office for Credit Information (ZEK) Your personal extract. This is a free service. Check that the data is correct and, if there are any discrepancies, contact the responsible credit institution to resolve the matter.
If your statement contains serious codes (e.g. partial or total losses or collection measures), a No chance of a loan application. You would only provoke unnecessary entries, which would further worsen your chances of getting a loan.
Further information on these topics can be found here:
- Request a personal ZEK extract
- What is the ZEK
Have you ever had a Credit, Leasing or a credit card and your Instalments always paid on time? Then you belong to the privileged borrowers! Banks appreciate good payers, which is particularly evident in low interest rates and very good scoring values is noticeable.
For persons without Credit experience the banks calculate a Higher riskwhich is both the Interest rate as well as the Amount of the loan influenced. Success in obtaining a loan depends heavily on the appropriate preparation. This is particularly true when it comes to successfully obtaining a loan. As Prospective borrower you have to fulfil a number of requirements to be eligible for a Lending to be taken into consideration.
How we can help
We understand that every applicant has individual needs and challenges. Our services include:
- Market knowledge: We know the best providers for your specific situation.
- Professional credit dossier: We prepare all the necessary documents to maximise your chances.
- Processing: We take over the entire credit process and negotiate directly with the banks on your behalf.
Contact us for further information:
📞 Credit hotline: 062 823 08 03
FAQs on credit requirements
1. can I get a loan with a fixed-term employment contract?
Yes, if the employment contract has been in place for several years or has been regularly extended.
2 Is it possible to obtain a loan despite debt collection?
No, debt collection must first be settled in full.
3. can a pensioner get a loan?
Yes, as long as the pension covers the monthly repayments and the age of 68 is not exceeded.
4. are loans possible for cross-border commuters?
Yes, cross-border commuters with permanent employment contracts and who have worked in Switzerland for at least 3 years have opportunities.
5. can I get a loan without a minimum wage of CHF 3,000?
This is not possible, as the viability test of the Small Loans Act requires this.
6. are there loans without a credit check?
No, a credit check is mandatory.