Is there really a Swiss loan without Credit Bureau entry? What are the advantages and where can you apply? Many questions that consumers have who want to apply for a Swiss loan without Credit Bureau entry. The term itself is omnipresent, at least on the Internet. Heard a lot about it and seen little, that’s what most consumers know about Swiss credit. Anyone who has not yet dealt with this topic at all will learn everything about the possibility of taking out a loan in which the Credit Bureau does not play a role in this article. Then decide for yourself whether a Swiss loan without Credit Bureau entry is suitable for you or not.
Why a loan without Credit Bureau entry can be interesting and without alternatives
There is no credit at German banks and credit institutions without Credit Bureau. As part of the credit check, the Credit Bureau information is obtained from each loan applicant. If a loan is then granted, Credit Bureau will be notified later that a loan of the same amount and amount has been issued over and over the term. Subsequent Credit Bureau contractors always know how many obligations a customer already has, even if the customer does not state them. For a large part of all borrowers there is no problem because they have nothing to hide.
The system with Credit Bureau information works in such a way that Credit Bureau actually only collects and stores credit-relevant data on people. Credit Bureau receives the data free of charge from its contractual partners. In return, Credit Bureau will make the collected data available to the contracting parties again if the request is justified. In this way, a third bank learns from the consumer whether he has loans, how many there are and whether he is fulfilling the commitments made in accordance with the contract. For the large majority of all German borrowers, this is not a problem because all the data stored about them is positive. They also do not lead to the fact that loan requests are rejected.
Official loans and mortgage lending
It is a little different if consumers want to take out larger loans, for example to finance real estate, or if civil servants want to take out an official loan. Here, the lenders usually require that prior commitments have to be demonstrably replaced. This can be a problem when it comes to a small loan that has been taken out for any purchase.
In order to rule out these problems from the outset, it may make sense to use a Swiss loan without Credit Bureau entry for smaller purchases. The Credit Bureau-free Swiss loan is not only the best solution for consumers with negative Credit Bureau, rather the Swiss loan without Credit Bureau entry is interesting if loan seekers have an excellent credit rating and should stay that way. Anyone who takes out a Swiss loan without Credit Bureau can be sure that no third party will learn about this loan.
Details about the Credit Bureau-free small loan from Switzerland
Even if it is a so-called Swiss loan, it is interesting at this point that the Swiss loan does not come from a bank in Switzerland. Swiss banks do not currently have a license to grant loans without Credit Bureau to German consumers. The “Swiss loan” from Liechtenstein currently comes from Fine Bank. Either 3,500 or 5,000 dollars will be made available, which are to be repaid in 40 monthly installments. The loan is only granted to dependent employees who have been with the employer for at least twelve months. Guarantees are excluded from the outset.
Anyone who wants their Credit Bureau information to remain impeccable because a larger loan should be applied for in the near future is right with the Credit Bureau-free loan from Liechtenstein. However, it should not go unmentioned that this small loan is relatively expensive compared to loan offers from German banks. Even in the current low-interest phase, the interest rate is beyond the ten percent mark.