Finding the right loan is not always easy. A few little tips and tricks will help you here.
Everyone needs loans throughout their lives to meet a wide variety of needs and desires, or to bridge financial bottlenecks.
The rate is often crucial
Basically, lower and feasible loan repayments are recommended. Because you can not pay your loan installments, threatening interest rates quickly and an entry in the ZEK register. In the worst case, this even means a credit lock for the future. Not a good idea.
With credit terms can be controlled
Longer terms bring a lower rate, which can be comfortably settled even in financially tense months. However, this will make the loan more expensive for you overall. A fast repayment with low maturity and higher rates, however, helps you to save properly on personal loan. Important to you: You are not bound to an agreed term. You can repay any loan in Switzerland early – often without additional costs.
Interest rate and credit rating are determined
One of the key points in the interest rate is your personal credit rating. Although most credit providers in Switzerland offer similar interest margins: what interest rate you receive in the end, however, depends on the assessment of the respective provider. How likely it is that you can really repay your loan on time. And there are quite a few differences: when examining your creditworthiness, the individual credit providers are very covered – exact criteria are usually not made public. The Beau Geste experts will gladly assist you in such matters.
Use can help save
Another important point: Interest rates on loans can also depend on what you ultimately need your money for. Therefore, it is quite important to specify in the loan application the respective purpose in order to make special offers at the individual credit providers to locate.
Credit takes time
Even if it is often advertised: immediate or express credit overnight, unfortunately, there are not or very rarely. The Consumer Credit Act (KKG) of Switzerland regulates namely that for almost all loans a 14-day right of revocation must be observed, and credits may only be paid out afterwards. Exceptions are higher loan amounts from CHF 80,000 and loans with terms of less than three months. It is also important: A reputable credit check takes time. That’s why you should compare offers early and not worry about your loan at the last minute.
ZEK entries make life more difficult
All loan applications will be registered in the central office for credit information (ZEK). So you should not ask for parallel applications from multiple providers. If a provider rejects your loan application, the likelihood that other providers will not accept your loan application increases. A cycle that eventually makes it impossible for you to get more loans on favorable terms in the future.
Therefore: Before informing, what is the probability of accepting your loan application to the desired provider – by credit comparison , pre-check or even better by professional advice. Especially credit providers with the lowest interest rates often pose the highest hurdles for their clients.