A credit with no credit rating from Switzerland symbolizes the willingness to take risks and the ability to do business in the Swiss credit system. The article summarizes everything you need to know about Swiss credit without Credit Bureau.
Credit without credit from Switzerland – symbolic patron saint
A credit with no credit rating from Switzerland never had a large market share. But Swiss credit without Credit Bureau is known like no other loan. Anyone who browses the internet for solutions to a credit problem is literally showered with advertising for Swiss loans. Even without the Internet, advertising for loans without Credit Bureau from Switzerland can hardly be overlooked. Anyone who opens a magazine in the doctor’s waiting room is guaranteed to find such an offer.
Nevertheless, the time at this credit facility has not passed without a trace, without proof of creditworthiness from Credit Bureau. The USD crisis not only swept away all credit providers for risk loans from Ireland, Spain or Cyprus. International treaties and the Banking Supervision have also ensured that Switzerland is no longer the country of origin for risk loans. Strictly speaking, there is no longer any bank based in Switzerland that is allowed to offer a Credit Bureau-free loan for Germany.
The Spin Lender from St. Gallen was the last “real” loan provider from Switzerland for the loan without Credit Bureau C 2.09). The Banking Supervision thus prevailed in a procedure that has been carried out by all instances since 2003. Since then, Spin Lender has been prohibited from advertising loan offers in Germany itself or through credit intermediaries. Only the existing credit agreements were allowed to be processed, but no new credit agreements could be concluded.
Swiss loans without creditworthiness hurdles
Anyone looking for a credit from Switzerland without a credit rating can breathe a sigh of relief since the end of 2010. The “credit vacuum” created by the court decision is lifted by Lite Lender from Liechtenstein. This bank is set up differently. As the only credit bank for financing without Credit Bureau, it has the necessary banking license to meet the requirements for cross-border lending.
All reputable loan offers for a Swiss loan therefore automatically refer to this lender. Instead of proof of creditworthiness through Credit Bureau, an unlimited, long-term employment relationship is sufficient to maintain creditworthiness. Proof must be provided on the last two salary slips and the bank statements. Swiss credit is secured by a comprehensive certified declaration of income transfer.
Credit conditions of the Swiss loan from Liechtenstein
Small loans are offered in two loan amounts. Loan option one comprises USD 3,500 net loan at an annual percentage rate of 11.62 percent. The entry requirement for a single applicant is a net labor income of 1,130 USD.
The second possible loan amount is USD 5,000 loan at an effective interest rate of 11.61 percent. The entry requirement that a single person must meet is a net working income of at least 1,600 USD.
If the loan is applied for from Switzerland without a credit rating via a credit intermediary, then the agency costs are added. The fee of the credit broker usually corresponds to about three percent of the loan amount.