Online loans in Switzerland - all in one place

Find various Swiss lenders. Whether you are in search of a consumer loan, payday loan or credit card - here you can find them all!

KreditbetragCHF 3’000
Laufzeit12 Monate
Suche anpassen
Aktualisiert: 19. Feb. 2024
logo
Kreditbetrag
CHF 500 - 250’000
Laufzeit
1 - 120 Monate
Effektiver Jahreszins
0 - 9.81%
Mtl. Rate
über 12 Monate
Grösster Schweizer Kreditvergleich
Kredit-Anfragen ohne ZEK-Eintrag
Tausende von Franken sparen
Nettodarlehensbetrag: CHF 10’000, 12 Monate Laufzeit, 9.8% eff. Jahreszins, Gesamtbetrag: CHF 10’980
logo
Kreditbetrag
CHF 500 - 250’000
Laufzeit
1 - 120 Monate
Effektiver Jahreszins
0 - 9.81%
Mtl. Rate
über 12 Monate
Grösster Schweizer Kreditvergleich
Kredit-Anfragen ohne ZEK-Eintrag
Tausende von Franken sparen
Nettodarlehensbetrag: CHF 10’000, 12 Monate Laufzeit, 9.8% eff. Jahreszins, Gesamtbetrag: CHF 10’980
Die Höhe unserer Provision hat Einfluss auf die Sortierung.

Inhaltsverzeichnis

Online loans in Switzerland

Loans are in their simplest form an agreement between a lender and a borrower about the loan terms. The lender has the funds available and borrows them under specific criteria, often through an interest rate of some sort and some additional fees. This is considered the payment for borrowing the money and is paid back monthly, quarterly, biannually, or annually by the one who borrowed the money. As the agreement is made, certain aspects like amount, runtime (how long the period for returning the money is), and interest rate must be set. This is often done by banks to consumers, where banks have the funds available to them and lend them to their customers under a specific contract.

A loan example

For an amount of 100,000 CHF, over a runtime of 8 years (96 months), with an interest rate of 7%. With fees included, the final repayment for this loan is around 140,000 CHF. However, this amount is split over 96 terms (months), with a monthly payment of 1377 CHF (fees included).

Usually, you would need to consult a local bank to sign up for a loan, but as online banking has become more and more popular, there are several lenders offering convenient online loans.

While most traditional banks require a thorough investigation of your financial standpoint regarding monthly income, budgets, last year’s spending and much more, online banks only require minimum information, which makes them more accessible. Some online lenders might also offer lower interest rates since they are not burdened by paying rent for a physical subsidiary in the area.

To apply for a loan in Switzerland, you must fulfil the following requirements:

  • Be over 18 years old, as you need to be of legal age to make financial decisions. Some banks have additional restrictions, like a higher interest rate or a lower limit on the loan amount, if you are under 25.

  • Have Swiss or Liechtensteiner citizenship or a valid residence permit.

  • Have a stable income source. Banks offer loans on the basis of getting back the money after the runtime has passed. If you have no income source, you cannot pay back your loan with the added interest, which in turn means you will not be able to take a loan in the first place.

  • Be creditworthy. This means that you need to be able to pay off the loan including interest within 36 months, even if a longer loan term is granted.

Here is an overview of the loans offered by online lenders in Switzerland, which you can also find right here on Moneezy:

Classic loans

Consumer Loans (Konsumkredit), Mini Loans (Minikredit),and Unsecured Personal Loans (Blankokredit) are different loans that follow the classic loan structure in Switzerland. You apply for a loan of a certain amount, as well as decide on runtime for paying it back with the added interest and fees. The different terms are mainly used to distinguish between small and big loans.

Uses for classic loans

These loans can be used for a lot of different things. The smaller loans can be used for an unexpected expense that has come through, an emergency that must be taken care of, or invested in an item you've wanted for years. The bigger consumer loans are more suited towards initiating start-ups, loans for property or vehicles, and energy optimization or renovations in your home. The possibilities are endless, which is why the consumer loan is the most common loan.

Special loans

Consolidation Loans (Konsolidierungskredit) is a term for combining several smaller loans into one big loan, to avoid paying huge interest for several loans at a time.

Consolidation loans are especially useful when consumers have taken several small loans and are now burdened with several payment dates and different interest rates.

Lastly, we have Overdraft (Überziehungskredit), which allows you to exceed the amount of money in your account by a set amount each month, without paying the normal fees.

Overdrafts are especially useful when conducting a big project, for example, a house renovation, where unexpected expenses can come out of nowhere. The loan is only active if your account experiences an overdraft and the loan will cover the rest of your expenses. Once next month’s paycheck comes in, the loan is automatically paid off with a small interest rate.

The Pros and Cons of Loans in Switzerland

More than 10 years of experience in the financial factors have taught us a lot about loans in Switzerland. Let's look at the positives and negatives of such loans, so you can decide whether borrowing money is right for you in your situation and what kind of loan currently suits your needs.

Pros
  • Loans that suit your situation

  • Allows you to realize your projects

  • Transparency throughout the entire process

  • No loan justification

  • Convenient and flexible

Cons
  • Lifestyle inflation, where you spend more money because you have more money

  • Debt, if you are not careful with your budget

  • Reckless spending

  • Extra fees if you do not comply with payment dates

Overall, payday loans, consumer loans, and other similar loan products can be a good option to get extra cash in situations, where it is better to pay for your expense immediately.

However, if you are not realistic and thorough in your planning of budgets in connection with your loans, you can end up having trouble paying them back over time. Furthermore, if you apply for a loan to spend on devaluating assets such as technology, fashion, and trends, you are not looking at investments, but rather at reckless spending, something to avoid using loans for.

Being mindful and intentional about your loans is the most important aspect. But if you keep these risks in mind when applying for a loan, they can be a great source to realize projects.

What to do when you cannot pay your loan back

If you are having trouble with paying back your loan, you can look for help by turning to:

  • Your lender - they might offer a debt counselor's service

  • A debt counseling center - for example Schuldenberatung Schweiz

  • Your local social welfare office

If you experience trouble with paying your loan back, it is best to seek advice as early as possible, so you can start getting back on track early on.

Remember, that Moneezy does not offer financial advice or debt counseling services.

The Swiss loan market has developed a lot in the past years. New lenders are constantly popping up, which might make it confusing to choose one for you.

Our top 3 takeaways related to loans in Switzerland
  1. Research and Compare: There are many lenders, which means that they offer sometimes deals for both new and existing customers. Find the right loan for your needs and do not choose the first random lender, but choose one with the most advantageous terms.

  2. Understand the Total Cost: Look beyond the interest rate and consider the total cost of borrowing. This includes additional fees, such as processing fees, insurance, and early repayment penalties.

  3. Check Your Credit Score: In Switzerland, lenders often consider your "Betreibungsauszug" when evaluating loan applications. It is important to review your "Betreibungsauszug" and address any inaccuracies or negative entries before applying for a loan.

Compare lenders and choose the best one for you, since there are a lot of lenders in the Swiss loan market.

And always remember that all loans are financial obligations and must be paid back.

Autor:
General Manager
Emil Kjær
General Manager

Emil nutzt sein Fachwissen, um im Finanzsektor etwas zu bewirken. Der Absolvent der Süddänischen Universität (SDU) ist seit 2013 Geschäftsführer bei Intelligent Banker und hilft mehr als 500 000 Nutzern aus aller Welt bei ihren finanziellen Bedürfnissen.

Frequently asked questions about loans in Switzerland

How do I qualify for a loan in Switzerland?

Lenders usually consider factors like your income, credit history and residency status. However, each lender has their specific eligibility criteria, so you should check with them directly to see if you qualify for a loan.

What types of loans are available in Switzerland?

Germany offers various types of loans, including, among others, personal loans, car loans and mortgage loans. Each loan has a different purpose and therefore comes with its own conditions.

How long does it take to get a loan approved in Switzerland?

This depends on the lender and the loan amount. While there are lenders that offer an instant approval, some lenders take a few weeks to approve a loan. However, most lenders usually take a few days for their approval process.

Can I get a loan in Switzerland with a low credit score?

Having a low credit score, e.g. a negative "Betreibungsauszug", can make it more challenging to get a loan in Switzerland. Lenders typically assess your creditworthiness, and a low credit score may rise your interest rates. However, there are lenders that specifically offer loans to those with a negative "Betreibungsauszug".

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