The Swiss loan, for many credit-impaired loan seekers, often the last lifeline to get cash. The bank from abroad does not query the German Credit Bureau and does not report a loan. Customers who are looking for a Swiss loan without intermediaries will find many results. But in most cases, there are always credit intermediaries. Loans without Credit Bureau are the business of intermediaries. Although these loans are somewhat more expensive than the conventional ones, they can bring some advantages for the loan seeker.
The Swiss loan without intermediaries
Customers who call up the relevant pages believe that there is a bank behind it. But that is rarely the case. Credit intermediaries can hardly be distinguished from normal banks on the Internet. Usually, a customer won’t find a bank for a foreign loan either, since they all work with intermediaries. The bank advertises the mediations indirectly. This can be an advantage for the customer who does not receive a loan in this country, because credit agencies know all banks and can find the right provider for the customer.
Nowadays Swiss loans no longer come from Switzerland but from Liechtenstein. Since 2010, Litebank, based in Liechtenstein, has received Banking Supervision’s official approval, which states that the bank may grant German loans. According to research, only this bank has taken over the approval and thus market leadership for Swiss credit without intermediaries. You can apply for the loan directly from the bank, but the free pre-check of the loan application, as it comes from credit intermediaries, could be a reason not to apply for the loan directly from the bank.
If a loan seeker applies for a non-Credit Bureau-free loan directly from the bank and does not do so, there is a risk that the loan will be rejected. The request is free of charge through an intermediary. Anyone who asks the bank directly has to pay notary and postage costs in advance, without the guarantee that the loan will be approved at all.
The Swiss loan without intermediaries is more expensive than a conventional installment loan from a Cream bank. It is therefore worth comparing the individual providers. There are also comparison pages for this type of loan, where customers can see all terms and conditions with one click. This shows the differences not only in the interest rate level but also in the loan amount. Some of the providers have fixed the loan amount at 3,500 USD, others have expanded their offer to 5,000 USD or 7,500 USD.
However, the conditions for Swiss credit without intermediaries are all the same. The customer must have a permanent job that is not temporary and does not include a trial period. The employment must have existed for at least one year. For this reason, unemployed and self-employed have no chance of getting this loan. In addition to the permanent job, there must be a sufficiently high income that is above the garnishment exemption limit. A single person has to earn around 1,160 USD net in order to receive the 3,500 USD loan.
The customer must be of legal age and not older than 58 years. His place of residence and his checking account must be in Germany. The terms of the loans are 40 months and the rate for the 3,500 USD loan is 105.00 USD. If you are just above the income limit, you should consider that your monthly budget will be reduced over the next few years. Therefore, a budget should be drawn up in advance, which in the best case scenario has a residual amount after deduction of all expenses.
The credit process
In general, a loan seeker with Swiss credit without intermediaries can expect the loan amount to be paid out quickly. The bank’s requirements are clearly defined and only those who meet them receive the loan. In order to speed up the credit process, all important credit documents should be compiled in full and sent to the bank. If a document is missing, the loan payment is delayed.
If the loan seeker has opted for a Swiss loan without an intermediary, he / she fills out the form provided. Based on the data entered, the customer is given a preliminary loan approval and at the same time the loan application that is completed and signed. It is completely without mail, but not a credit-free credit. The customer must post salary slips from the past three months and bank statements from the same period, as well as a copy of the employment contract and a budget for the income and expenses.
The customer then carries out the Postident at Swiss Post, which is a personal identification based on the identity card. By printing out the loan application, the customer can print out the personal identification certificate and present it to the postal officer. This fills out the certificate and the customer then sends the certificate with the credit documents to the agency.
The customer should pay the Swiss loan on time without an intermediary, since the bank initiates the garnishment in the event of a payment default. For this reason, the income must not be pledged. If the Fine Bank refuses the loan because the income is insufficient or if there is no permanent job, the customer can try a loan security with a Cream bank.
Think of a guarantor who secures the loan. The customer may have many acquaintances or friends who do not exclude a guarantee, but the bank will examine the guarantor very carefully. This must be solvent, ie have a sufficiently high income, a permanent position and a clean school. The guarantor must also be fully informed about the risks of a guarantee. He must know that if the borrower stops paying, the guarantor must pay for the loan.
But the bank also often takes a property or a loanable life insurance or other valuable property collateral and the customer thereby increases his credit opportunities.