FAQs on the topic of credit
Who can take out a loan?
Loans can be approved for people who meet the following criteria:
- Permanently resident in Switzerland.
- Has Swiss citizenship or a permanent residence card (B, C).
- At least 20 years old when the loan agreement is concluded and not older than 70 years at the end of the term.
- Has a regular income and adequate budget surplus.
- Has no more than one debt enforcement on record.
- Is in a position financially to repay the loan.
In accordance with the Swiss Consumer Credit Act (CCA), credit approval is generally granted only after a solvency check has been completed and is prohibited if it would lead to excessive debt (Art. 3 of the Swiss Federal Act against Unfair Competition, UWG).