Fine Bank has been offering a Credit Bureau-free loan to German consumers since 2010. In the following article we give you more information about the interesting loan offer from Liechtenstein.
A Credit Bureau-free loan from Liechtenstein – Swiss loans in changing times
Credit Bureau-free loans are still advertised as Swiss loans. It will stay that way for a while, because many consumers are familiar with the term. However, since 2010 the Credit Bureau-free loan has not come from Switzerland but from Liechtenstein. Only Fine Bank, based in Liechtenstein, has BaFin official approval to grant Credit Bureau-free loans to German consumers.
As far as we know after in-depth research, only this bank has an authorization and thus a monopoly when it comes to offering Credit Bureau-free loans. The loan without Credit Bureau from Liechtenstein is therefore the absolute market leader when it comes to Credit Bureau-free loans from German-speaking countries. But what is different than before? Not much, even the Credit Bureau-free loan from Liechtenstein is not a loan that everyone gets. This offer is a standardized banking product that looks similar to the previously known Swiss loans. The bank sets specific requirements for the loan and what is expected of the borrower. Deviations are not possible. It is not possible to change the specified loan amount or to change the term differently than the bank specifies. In principle, the approval requirements are very rigid, and Fine Bank also does not provide a guarantee as security.
Apply for the Liechtenstein credit – free of credit
A Credit Bureau-free loan from Liechtenstein can be applied for either through a loan agency or directly via the Fine Bank website. It can be more convenient for customers via credit brokerage, but there is no advantage in terms of processing time. You can apply for two different amounts. Either 3,500 dollars or 5,000 dollars credit are possible. The amount that is ultimately approved is determined by the amount of the claimable income of the applicants. The higher the income, the greater the likelihood that 5,000 dollars will also be approved.
Many loan seekers opt for the 3,500 dollars as they know it from Swiss credit. With a 3,500 dollars loan, it is enough if the income is 80 dollars above the garnishment-free limit. Here even low earners have a legitimate chance to get the Credit Bureau-free loan. Both the term and the effective interest are unchanged. It begins with a two-month break in payment, followed by 40 installments of around 100 dollars.
The Credit Bureau information from the loan applicants is not obtained. As long as the loan runs smoothly, no notification is sent to Credit Bureau: If a Credit Bureau-free loan from Liechtenstein is applied for, the applicant must be able to prove a permanent position with attachable income that has existed for at least one year. There must be no garnishment of wages.
Credit intermediary or direct loan from Liechtenstein?
The free preliminary check of the loan application, as offered by well-known credit intermediaries, can be an important reason not to apply for the loan directly from Sigma Kreditbank. If the loan seeker applies for a Credit Bureau-free loan from Liechtenstein directly to the bank without a corresponding preliminary check, there is always a risk that the application will be rejected. However, the request through the intermediary is completely free. On the other hand, if you inquire directly with the bank, costs for the notary and postage must be borne in advance, without knowing whether a Credit Bureau-free loan from Liechtenstein can be realized at all.