A Swiss loan for the unemployed is not much easier to obtain in our partner country than in Germany. This is due to the fact that the borrower’s income always plays an important part in evaluating creditworthiness.
If there is no income due to unemployment, the applicant’s creditworthiness naturally suffers, while there is a risk for banks, which most lenders are unwilling to take. Nonetheless, people with poorer credit ratings can also get a loan from banks in Switzerland. However, this requires additional collateral, which the borrower and applicant must provide to the Swiss bank.
The classic security in credit is the guarantee. In this, another person is included in the loan contract, which improves the creditworthiness of the actual applicant. In addition, this improvement naturally also increases the credit line, although this is generally more fixed for the unemployed.
A Swiss loan for the unemployed can be applied for conveniently via the Internet, regardless of one’s own credit rating, where the conditions and the costs incurred can be viewed in advance. Borrowing abroad offers a maximum of transparency, from which the borrower can benefit, provided he or she obtains information about the loan and the provider beforehand.
Looser conditions than with banks in Germany
Although there is no “wild west” in Switzerland’s finance and credit system, the requirements for borrowers in the neighboring country are somewhat more relaxed than in the Federal Republic. Credit Bureau is almost never asked if the borrower can compensate for this missing aspect by at least average income and a secure job.
The terms of the Swiss loan for the unemployed differ massively between the individual providers, which is why the loan should be compared with other loans in advance. This allows a professional and well-founded assessment of the conditions, and it can also directly relate to the conditions of German loans. In the case of Swiss unemployment loans, a budget should also be drawn up in advance, which compares your own income with the planned expenditure. This gives prospective borrowers certainty about the maximum monthly installments.
As always, this is only possible if there is an income at all, otherwise at least unemployment benefit or Hartz 4 can be included in the calculation. However, this is usually not recognized by lenders, which is why the guarantee once again becomes the basic requirement for borrowing.