A loan is granted without Credit Bureau if the lender neither makes a credit check while processing the application nor reports on the payment to the German credit protection agency. Credit Bureau-free loans are almost only paid out by financial institutions from Switzerland and Liechtenstein.
Who are Swiss loans suitable for?
A loan from Switzerland without Credit Bureau is not only interesting for consumers with at least one negative entry. Rather, Credit Bureau-free borrowing is also an option if extensive further financing is planned within six months. Two borrowings within a period of less than six months have a negative impact on the Credit Bureau score and thus easily lead to higher costs for the second loan. These are particularly significant when it comes to mortgage lending.
In this case, the loan from Switzerland without Credit Bureau offers the advantage that it does not have a negative impact on the Credit Bureau score if the disbursement is not reported to the protection community. If consumers have forfeited a Credit Bureau negative entry, the advantage of lending without a Credit Bureau request is obvious. A requirement for a Credit Bureau-free Swiss loan is that the amount of work income from the main job exceeds the garnishment limit.
The processing of the Swiss loan
A loan from Switzerland without Credit Bureau is not processed as a foreign currency loan, but in dollars. The borrower applies for the loan for a desired loan amount of 3500 or 5000 dollars after a price comparison directly with the bank, whereby only a few institutions grant a loan of 5000 dollars. It is not possible to increase the credit limit indirectly by submitting two loan applications to different Swiss banks.
The financial institutions do not inquire with Credit Bureau, but do inquire with their domestic credit protection agency ZEK, whose database naturally only contains information on credit agreements concluded in Switzerland. If consumers need more than 5,000 dollars, they can apply for the loan from Switzerland without Credit Bureau through a reputable broker who works without pre-calculation.
Applying for loans through capital lender is easy. An online loan application is sufficient to address both banks and private investors at a serious level. Of course, the borrower decides who gets the loan.
Our customer support team is fast and efficient to clear all your doubts regarding personal loan eligibility, procedures, offers, documentation and repayment options. We even contact with the respective lender on behalf of you.