How to Get a Bank Loan in Switzerland

A bank loan is simply a form of debt that is granted for a given period of time, generally on predetermined interest terms tied to the prime rate of interest, the amount of the loan being repaymentable on a regular schedule, either on a monthly instalment or at a stated redemption date. These are very popular in the UK and the USA where credit markets are highly competitive and loans can be very timely and easily obtained. There are also some offshore banks that offer services to individuals looking for unsecured loans and credit cards. An example of such an offshore bank is the Swiss Bank Account.

Obtaining a bank loan in Switzerland is simple. You need to have a valid Swiss bank account, a regular income, and a job that is authorized by the Swiss government to hold such an account. For these types of accounts, verification of the information provided by the applicant is usually not necessary as the issuing bank verifies the information itself. The bank in question will review your credit score before approving the loan and if you have any outstanding debts to clear before hand, they will usually approve the loan too.

As a general rule of thumb, the easier it is to get approved for a bank loan, the lower the interest rates will be, and vice versa. The easiest loans to obtain are investment grade or better known as VIP debt. Investment grade debt such as a home mortgage is exempt from the usual underwriting procedures and is usually subject to a lower cost base rate. These types of bank loans are often applied for through offshore investment banks.

Another option that can be used for getting an investment grade bank loan in Switzerland or anywhere else for that matter, would be to contact online lenders who specialize in helping people obtain high risk loans. Many online lenders are able to procure high risk loans because unlike traditional banks, they do not have the traditional cumbersome paperwork processes that can make things tedious for the borrower. They can help you get the loan in less than two weeks from submission of your application. These online lenders also do not charge application fees, which makes their services all the more popular.

When looking for a bank loan in Switzerland that does not require a good credit rating, it is important to ensure that the lender offers secured loans. The easiest way to secure financing is through offering property as collateral. This collateral can be in the form of real estate, cash deposits, gold, jewelry or other items of value that are of value to you. Many banks in Switzerland also offer online applications to facilitate the application process, and some online lenders also allow for faxing of documents. Many good credit and investment grade lenders in Switzerland also offer online application forms for customers who do not have good credit ratings or for customers who do not possess the property in question that they wish to secure a bank loan in Switzerland.

Once you have decided on a lender that offers secured financing, you should be prepared to present a complete and accurate credit analysis to obtain the funds that you need. Many banks in Switzerland require a complete credit analysis before they provide any type of financing to an individual. The credit analyst will conduct a search of your financial records to determine whether or not you are a good credit risk. They will also conduct a review of your income and determine if you qualify for a loan. If you are qualified, your credit analyst will then negotiate with your existing creditor to obtain the best terms possible.

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