Credit Switzerland

Taking out a loan is a good option if you are planning a larger investment but cannot raise as much money as you need all at once. To be able to take out a loan in Switzerland, however, certain requirements must be met, which we will look at in this guide.

Read on here if you want to know whether there is a credit check in Switzerland and whether foreigners can also take out a loan. You can also find out all about the advantages of a so-called personal loan.

What are the requirements for a loan in Switzerland?

In order to obtain a loan in Switzerland, you must meet various minimum requirements. These include, for example, that you have already reached the age of majority. If these and other requirements are met, the bank will check your financial situation and your previous payment history. Such a process is called a credit check and it is crucial for the granting of a loan.

How does the credit check work?

The credit assessment checks a person’s creditworthiness or ability. This involves various factors, such as previous credit history, income and other financial aspects. The purpose is to find out how likely the person is to default on a loan. So you cannot avoid such a check when you apply for a loan in Switzerland.

Is there a loan without a credit check in Switzerland?

Whenever a loan is applied for in Switzerland, a credit check is carried out. The financial institution uses this to find out whether or not it can grant a loan to the person in question. However, this is also to ensure that the credit applicants themselves do not fall into a debt trap.

The Swiss Consumer Credit Act stipulates that credit checks must be carried out. If there are negative entries about you in the Central Office for Credit Information (ZEK), the credit institution may not grant the credit.

On the other hand, granting a loan without a prior credit check is prohibited. If you are offered such an opportunity, you should by no means accept it, because it is most likely a scam.

Last but not least, checking your creditworthiness also benefits you, as you only receive sums that you can really afford. Fraudsters do not adhere to the legal requirements, so they do not pay attention to your protection either.

How much should I earn to service a loan?

How much you need to earn each month to pay off a loan depends on the amount you need. Consequently, a formula for calculating the maximum amount of credit you are allowed looks like this:

Income - expenditure = tax-free amount per month (applies to each household)

Maximum amount of the loan = allowance per month x 36

An example of this:

Budget: CHF 8,000 (income/earnings) - CHF 7,000 (expenses)

Available margin per month = CHF 1,000

CHF 1,000 x 36 months = CHF 36,000

The final result is the maximum amount of the loan with interest. To assess the creditworthiness, credit providers must assume 36 months, even if a longer term has been agreed. This means that with an allowance of CHF 1,000, you can take out a loan of CHF 36,000 (total debt).

Can foreigners also get a loan in Switzerland?

Living in Switzerland is considered comparatively expensive, which is why it can be particularly difficult for foreigners to gain a foothold financially. In this case, a personal loan with a low credit rate can help. According to the Federal Statistical Office, people who move to Switzerland from abroad take out a consumer loan more often than Swiss nationals.

If you are not yet a naturalised citizen, however, you must meet a few requirements for taking out a loan, which depend on your residence permit, among other things. The length of time you have lived in Switzerland also plays a role. But it also depends on the respective credit institution.

Cheap credit in Switzerland

To benefit from a loan at the most favourable conditions, you should not accept the first offer that comes along. Instead, you can always get support from Miro Kredit AG from Basel. No matter whether you need the loan for furniture, a renovation, further education, the purchase of a car or other nice things in life: We will help you find a suitable one for yourself.

We attach great importance to ensuring that the offer is fully geared to your needs. To benefit from our expertise in this area, all you have to do is fill out an application with all the relevant data, which we make available to you on our website. Within 24 hours, you will be informed about the decision for the favourable loan.

How do I recognise the seriousness of an offer?

If you entrust us with the search for a favourable credit offer for you, you can assume that the offers are always reputable. However, if you want to obtain your own credit offer, you should be able to check the seriousness of the provider on your own. For this purpose, we provide you with a list that will help you to distinguish reputable credit brokers from dubious ones in the future.

Characteristics of reliable credit brokers

You can recognise dubious credit brokers by the following characteristics:

  • Offers written in poor German (often appear machine-translated)
  • Spam mails from unknown persons offering cheap loans without any recognisable preconditions
  • Loans are advertised as “Without ZEK check”, with no collateral required
  • financial advance is required
  • Preliminary costs and fees will be charged
  • Service hotline is not available or causes high costs
  • Imprint or contact details on website missing
  • hidden cost traps

Is a personal loan for private individuals better than leasing?

There is a crucial difference between leasing a product (such as a car) and taking out a personal loan: a leased car does not belong to you. Instead, you borrow it for a certain rent (lease payment) and duration in order to use it during that time.

Instead, take out a car loan, borrow money for the car from a credit institution. With this, you buy it from the car dealer or a private person and subsequently it is yours. You owe the credit institution the amount borrowed, including interest, which has to be repaid in a pre-determined period of time.

The advantages of a personal loan

If you finance a product with a personal loan, ownership is transferred directly to the buyer. As the buyer, you have all the rights concerning the purchased product, so you can also sell it again at any time. For example, if you have financed a car with a loan, you can sell the vehicle at any time and simply repay the loan. It is different with leasing, because it is not so easy for consumers to be released from the contract.

Apply for credit easily online

As already mentioned, you can easily apply for a loan with us online. To do so, you will be guided step by step through a form and have to fill it out with your details. What is requested:

  1. Information on the loan: desired sum, contract term in months and whether or not instalment protection is to be provided
  2. Personal details
  3. Information about your professional situation
  4. Additional information

What is an instant loan?

Offers of instant loans, also known as “express loans” or “fast-track loans”, are sometimes circulating in Switzerland. However, you should not accept these.

They are lured with a supposedly quick payment of the money, although the so-called instant loan does not exist in Switzerland. Such lures often lead to dubious companies that are not licensed credit providers. These should be distinguished from reputable credit providers who also advertise instant loans but do not offer them at all.

Often they promise to grant the desired loan immediately, but then prefer dossiers or process them more quickly. However, this is not unusual, because all professional providers are able to do this.

According to the self-regulatory agreement of the credit industry, advertising for instant loans has been prohibited in Switzerland since January 2016. This is a form of misleading advertising that falsely suggests that a consumer loan is granted particularly quickly and without a prior creditworthiness check.


If you want to take out a loan in Switzerland, you should first familiarise yourself with the available options. In this section, we have compiled and answered the most frequently asked questions on the subject.

  • How much can I borrow in Switzerland?

    The amount of the loan depends on your monthly income and expenses. The maximum amount for a personal loan must therefore be determined individually. To do this, calculate the freely available monthly budget x 36 (months). Alternatively, you can also use a loan calculator to get a clear result.
  • Which bank is the best for a loan?

    Depending on which Swiss bank you apply to for your loan, you will have to pay different costs. Miro Kredit helps you find the cheapest loan without obligation and free of charge.
  • What do you need for a loan in Switzerland?

    To obtain a loan in Switzerland, you must meet certain requirements. For example, you must be between 18 and 69 years old, a private individual, have a permanent employment relationship and a good credit rating.
Miro Kredit Swiss - Conclusion


Taking out a loan in Switzerland can make sense in many cases. If you would like to make a larger purchase but do not have the necessary budget, a personal loan is preferable to leasing. However, you should bear in mind that you have to meet certain requirements in order to be granted a loan by a Swiss credit institution.

For example, it is a legal requirement that information about your creditworthiness must be provided. This serves not only to protect the credit institution, but also to protect you from falling into debt. You will only be granted a loan if you are able to repay the fixed loan instalments.

Private loan calculation example:
Private loan calculation example:

Loan amount: CHF 10,000 without insurance. Repayment period: 12 months

Interest (including costs) amounts between CHF 240.50 and CHF 574.25. Effective interest rate 4.5% – 11.95%. Possible loan repayment period from 12 to 120 months

Processing fees: CHF 0.-. Granting a loan is prohibited if it leads to over-indebtedness (§ 3 Unfair Competition Law – UWG)