The Best Payday Loans in Switzerland in Just One More Click
Compare the best options on the market and choose the one which best adapts to your day to day needs.
Further Below: Our Guide To Payday Loans in Switzerland, Everything you need to know.
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UBS Group AG
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Julius Baer
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Cooperative Rabobank AU
FUNDGECKO is here to help you make a hassle-free and fast financial decision by walking with you to the best consumer credit that’s consistent with your needs and peculiarities. It’s our job to present to you everything you need to know before contracting consumer credits.
FUNDGECKO gives you a monthly update of the most relevant news regarding consumer credits. Take a quick read of what affects credits this month.
While Switzerland is a preferable place to get personal loans from for its stable financial and banking systems, as well as its low lending rates, the situation might change with the ongoing Russia-Ukraine invasion. Nonetheless, the government is making efforts to cushion lenders from the harsh effects of the war.
A loan is affected by many factors each of which you should consider before settling for an option. Meaning, you’ll need to work with more than two offers as you sort them out using the relevant parameters such as interest rates, cost of the links, commissions, and repayment term, among others.
For example to buy credit offers and save 600 francs
In the following table, we can see how to compare between online personal loan offers taking into account all factors.
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By copying this table and performing different simulations according to the project we want to finance and the offer made by each entity, we will be able to know which one will be the best simply by comparing the total cost.
FUNDGECKO seeks to make the work easier for the user by outsourcing the most relevant information regarding loans including their characteristics, terms of operation, and conditions. At the end of the day, the user will be equipped with the best needed information and how to get the best loan whenever they need it.
Our site requires the user to follow the following steps:
There are many reasons why you may want to take out a personal loan. If you want to make a big purchase, buy a smartphone, buy a car, change your kitchenery, go for a vacation, and complete a project, among others a personal loan is the best option for you.
Below are some of other purposes covered by a personal loans:
Note: personal loans are generic and depending on the purpose, you may want a loan that’s specifically designed to suit that. For example, a student loan is better than a personal loan taken out to cover your fees because personal loans have high interest rates. Hence, consult with your lender to know whether there are better loan types.
Personal loans are so beloved because of their short, hassle-free process of application. While you may have an option to make an online application, some entities will require the borrower to apply physically in their offices. Below are some of the most common steps to follow with personal loans:
There are several requirements you’re supposed to meet before your loan application is approved, according to Swiss Law. Below are some of the most common requirements:
It is essential that we are responsible and that we do not take out personal loans if we are not able to assume their repayment. In that sense, it is advisable to dedicate a maximum of 35-40% of the income to the payment of our loan installments. We can use a personal loan simulator to find out the total cost of the credit and assess whether we could repay it or not.
Asking for a personal loan from a bank with which we have an active account and your receipts and income are domiciled will save you the hassle of much paperwork.
With the breakthrough of other financial entities in the modern Swiss financial market, banks no longer monopolize lending as was the case in the past two decades.
In this section we will see which are all the lenders we can find and how are their personal loans:
Entities that grant personal loans:
Financing through P2P platforms
A personal loan is a consumer credit that borrowers get when in an economic emergency. The lender grants the borrower a particular amount of money which they will require back after the agreed time. The amount to refund is always more than the principal amount we get because of interests, commissions, and other fees. Depending on the agreement, the lender will have us pay the whole amount as a batch or in installments.
Personal loans are naturally small and have high interest rates. They also have short repayment periods. Hence, they’re mostly used during minor economic contingencies such as debt coverage, clearing medical bills, completing a project, etc.
There are a couple of reasons why your personal loan application is rejected. It’s not the lender’s obligation to grant you the funds. Hence, a single mistake will automatically disqualify you for the loan. Having a negative credit history on any Swiss credit bureaus will have your application rejected. Moreover, you might not be meeting the eligibility criteria we listed above, including your residence, purpose, employment status, and age.
Before you get to the point of signing up for a credit, the lender will always give you a binding offer, which indicates the conditions and clauses of the loan contract. You’ll have 14 calendar days to go through it while comparing options.
You may want to repay a credit before the agreed time and Swiss law has allowance for that. Applicants will be required to cover for the whole amount which is the principal amount, the interest, fees, commissions, and any other costs. However, before making the repayment, you’ll need to notify the lender in good time. Some entities will charge the early repayment fee.
Swiss Law allows consumers to withdraw their loan application within the safe 14 days after receiving the funds. Anything beyond the 14 days will attract penalties.
Since taking out a loan is a commitment, failure to repay the funds is illegal. This will hurt your credit history besides landing your name in Swiss credit bureaus. This will also mean that you’ll not be able to access loans in the future.
You need a quick financial injection, probably due to an emergency. Fast loans are small in size, high in interest, and have a short repayment term. The loan is only applied when the purpose is urgent and cannot wait for your next income. It’s therefore advisable to borrow responsibly and repay a loan before taking out another one.
A loan is helpful if only you’re able to assume repayments comfortably and within the required time. To avoid surprise payments in the future, be sure to read through the contractual terms that the entity sends you.
Be safe and borrow responsibly.
About this page: we are passionate about helping you to get the best financial product that’s consistent with your financial situation. We, therefore, marshal the best available information about consumer credits and how to compare the options so you may end up with the most attractive offer at the moment.
Source: the information regarding the main characteristics of loans in Switzerland and their current regulation comes from the World Bank statistics and the Swiss Consumer Credit Act, among other reference portals.
Methodology: The data relating to the conditions of these products (amount, term, interest, etc.) have been obtained through online research and consultation of the official statistics of the aforementioned reference sources.
About Us: FUNDGECKO is an online comparator website specializing in personal finance and home economics products. We help our users not only compare the available financial products in the market but also provide rich information that will shorten the decision-making process and help them end up with the best offer.
Note: the services we offer are totally free for the user, as FUNDGECKO obtains its income from advertising and its featured products.