Frequently asked questions about personal loans

A personal loan (also known as a consumer loan or cash loan) is a loan granted to a private individual for personal purposes. In Switzerland, amounts from CHF 5'000 to CHF 80'000 can be applied for, with terms from 12 to 84 months.

After submitting all documents and a positive assessment, you will typically receive the money transferred to your bank account within a few business days.

Yes, the loan inquiry through privatkredit.ch is completely free and non-binding. You are under no obligation when submitting an inquiry.

Yes, a personal loan can be used for almost any purpose: car purchase, debt consolidation, renovation, education, dental treatment, and much more. The intended use is specified when submitting the application.

The basic requirements for a personal loan in Switzerland are: minimum age of 18, residence in Switzerland, regular income, no outstanding debt collection proceedings, and sufficient creditworthiness.

You typically need: pay slips from the last 3 months, a copy of your ID (identity card or passport), a current debt collection register extract, and possibly additional documents depending on your employment situation.

Yes, self-employed individuals can also obtain a loan. Instead of pay slips, the last 2-3 annual financial statements or tax returns are used. Each case is assessed individually.

Yes, a loan is possible with a B permit, provided you have a permanent residence and regular income in Switzerland. The conditions may differ from those for Swiss citizens or C permit holders.

The individual interest rate depends on your creditworthiness, the loan amount, and the term. The maximum effective annual interest rate is legally capped at 10%.

The effective annual interest rate includes all costs of a loan (interest plus fees) and enables a fair comparison of different offers. It is legally required as a comparison metric.

No. With a reputable lender, all costs are included in the effective annual interest rate. There are no hidden fees. Optional additional services such as residual debt insurance are listed separately.

The residual debt insurance is optional and typically costs about 5% of the monthly loan installment. It covers the risk in case of death, disability, or unemployment.

Yes, you have a statutory 14-day right of withdrawal after signing the contract. The cancellation must be made in writing. Any amounts already paid out must be repaid within 30 days.

Yes, the Consumer Credit Act (KKG) allows early repayment at any time without an early repayment penalty. You save interest for the remaining term.

In the event of a payment default, the lender will first send you a reminder. It is important to make contact early to find a solution. Persistent arrears can lead to a negative ZEK entry and ultimately to debt collection proceedings (Betreibung).

A change of term is usually only possible through debt consolidation. In this case, the existing loan is replaced by a new loan with different conditions.