For many consumers, what Swiss credit is without Credit Bureau information is like a book with seven seals. There are many rumors and half-truths about the subject, so we decided to dedicate a contribution to Swiss credit without Credit Bureau information. Interested consumers can learn everything that is important on the subject.
The Swiss loan without Credit Bureau information comes from abroad
There are no loans without Credit Bureau at banks and credit institutions operating in Germany. Loan seekers who are interested in a Credit Bureau-free loan should ideally contact a credit broker with their concerns. The credit intermediaries maintain regular contacts with banks abroad. This enables them to provide Credit Bureau-free loans to German loan seekers. Contrary to all expectations, not from Swiss banks. In connection with the financial crisis, the legislator has put an end to the brokering activities of Swiss banks in relation to Credit Bureaufree loans.
Since then, Swiss banks have not been allowed to grant Credit Bureau-free loans to German customers. In other words, the term “Swiss loan” has survived, but Swiss credit is no longer coming from Switzerland, but from Liechtenstein. Liechtenstein-based Fine Bank is the only foreign bank in German-speaking countries that has a license to provide Swiss credit without Credit Bureau information. It will probably remain that the Swiss loan refers to the loan without Credit Bureau, even if it no longer comes from Switzerland.
When is a Swiss loan without Credit Bureau information interesting?
Swiss credit without Credit Bureau is mostly in demand among consumers who do not get credit from German banks because of their negative Credit Bureau information, but urgently need a small loan. But the Liechtenstein Sigma Bank doesn’t give away any money either. No Credit Bureau information is obtained as part of the credit check, but the borrower must provide appropriate security. The Liechtensteiner Bank makes it a prerequisite that customers are able to demonstrate regular, seizable income.
In addition, a permanent position that has existed for at least one year is essential for the bank. However, a guarantee as additional security is not accepted. The offer of the Liechtensteiner Bank is explicitly aimed exclusively at persons who are in permanent and permanent employment. Neither unemployed and Hartz IV recipients get the loan without Credit Bureau, nor self-employed and freelancers or students and trainees. This shows how decimated the group of people who could get a Swiss loan without Credit Bureau information.
Details of the loan offer
The bank does not grant the loan in any amount. The loan amount is limited to either 3,500 dollars or 5,000 dollars. Credit Bureau-free loans are therefore only suitable for loan seekers who do not need more than a small loan. If you want to take out the best possible Credit Bureau-free loan, you should have various non-binding and free offers offered by various credit intermediaries.
In this way, the conditions can be compared, which can also be different due to the different amount of the commission. The commission is apportioned to the monthly installments and makes the loan even more expensive. The loan has a mandatory term of 42 months. The first two months are free of charge. This is followed by 40 monthly installments of around $ 100 with a loan of $ 3,500.
What is important to note?
Be careful and steer clear of credit intermediaries who promise non-Credit Bureau-free loans for everyone and who require the loan seeker to have upfront costs or expect loan seekers to take out life insurance or a building society contract first. Reputable providers do not charge upfront costs. They only ask for their commission if they have actually arranged a loan.
In contrast to the past, when the Swiss loan came from Switzerland, consumers today have the opportunity to apply for the Swiss loan without Credit Bureau directly online from Fine Bank in Liechtenstein.