Do you want to apply for a Swiss loan online and wonder if that works? Of course you can. With this article we inform you about the costs of a Credit Bureau-free Swiss loan, what advantages this loan has for the consumer and where the possible dangers and risks lie.

Apply for a Swiss loan online – a free service provided by intermediaries

Experienced borrowers are already used to the good service that banks offer them with online loans. The free online loan comparison gives you a quick overview of the currently cheapest loan offers. With just one click, you can proceed to the loan application, which can be completed and sent directly online. After the personal data has been transmitted, the bank carries out the so-called credit check. Here it is checked to what extent a loan applicant is economically able to pay the monthly installments and whether he is trustworthy or creditworthy. If the loan applicants have a correspondingly good credit rating, they will be given a preliminary loan approval within a few minutes. It can hardly be more time-saving and effective. For this reason, more and more consumers are giving up their house bank and prefer to apply for loans online from the direct banks.

The success story of the direct banks is of course not uninteresting for the credit intermediaries operating on the market. Consumers interested in a loan without Credit Bureau who want to apply for their Swiss loan online are just as comfortable. You save a lot of time by eliminating labor-intensive and time-consuming processes on both sides. Forwarding the documents of the loan applicants to the partner banks is no longer a problem for the credit intermediaries. As a result, the Credit Bureau-free loans are now paid out much faster than a few years ago. Technical progress makes it possible. Since SEPA, the transfer process has also been significantly faster than before, so that the loan is then actually available more quickly.

Apply for credit online without Credit Bureau – the direct offer

The loan offers for Credit Bureau-free credit that credit intermediaries submit relate to the offer of Sigma Kreditbank AG based in Liechtenstein. However, customers should not apply for the loan directly from the bank. Although the application documents are stored online here, they must be printed out and filled in before they can be sent to the agent by post.

Unfortunately, the loan without Credit Bureau is not as quick as online credit offers from German direct banks. Here, the intermediaries and their affiliated banks still have to do something to give consumers the opportunity to apply for a Swiss loan online. And the money is available quickly. For consumers who are interested in such offers, we have prepared some facts about Swiss credit without Credit Bureau:

3,500 or 5,000 dollars are possible. The term is not freely selectable, but is set to 40 months. The effective annual interest rate is generally beyond the ten percent mark. Added to this are the fees for the placement, which are ultimately payable to the agent.

Consumers who are not necessarily dependent on a Credit Bureau-free loan because German banks refuse their credit inquiries should do without these very expensive and often also dubious offers. The Swiss loan without Credit Bureau information is an expensive loan that can have unforeseeable consequences for consumers. There are some dubious credit brokers who are only out to riot desperate loan seekers and do business with their personal information later. Loan seekers are laypeople and cannot always identify these dubious practices in advance. Only consumers for whom there is no alternative in Germany should apply for a Swiss loan online. You should be careful.

For example, the industry is said to be forced into an agreement to determine which type of advertising campaign is aggressive. If no agreement can be reached within a reasonable period of time, the Federal Council determines which advertisement is offensive. A stricter credit check is also planned. The proposal adopted today is therefore largely in line with the preliminary draft that the Commission presented for consultation last year.

The Commission has responded to concerns about the rule of law by replacing the originally intended declaration of general application of the private agreement with a penal provision in the law. Thereafter, anyone who violates the advertising ban will be fined up to $ 100,000. The Commissioners are generally convinced that this proposal can help prevent private debt.

In their view, the submission with the involvement of the industry guarantees a practicable approach and a commitment from all involved. The reason for this is not primarily the granting of small loans, but a lack of financial competence. The application will now be submitted to the Swiss Council for assessment and then sent to the Swiss Council.

No aggressive advertising for microcredit

The federal government welcomes the proposed ban on advertising for microcredit. He noted this in his opinion published on Thursday on a draft submitted by the National Council’s Economic Commission. It is indisputable for the federal government that small loan advertising must also be limited in order to combat overindebtedness.

The industry itself should determine which advertising campaign is classified as offensive in a congress. If self-control fails, the federal government decides what is meant by offensive advertising. The Federal Council plenary supports the planned restriction of the advertising campaign. In his opinion, more aggressive forms of advertising favor thoughtless decisions and hasty commitments and increase the risk of over-indebtedness.

In addition, the Federal Council is of the opinion that forms of advertising that are aimed specifically at children and adolescents and should therefore also be described as offensive should also be prohibited. In addition, the Federal Council is committed to ensuring that only loans that are returned after three years at the latest

What are loans to be paid

Loans that are to be repaid in no more than four tranches and at most after twelve months are not subject to the consumer credit law under applicable law. In reality, this exemption enables very fast lending without having to check the financial situation of the consumer.

Finally, the Federal Council considers that the lender’s obligation to report to the consumer credit information office (IKO) is difficult for consumers who deliberately make false statements in connection with a loan application, from a data protection point of view.