Swiss banks Loans for the unemployed are generally only available if the borrower can add additional collateral to the loan agreement in addition to his application. This security usually provides the guarantor for the unemployed, although a guarantor with a good credit rating is sufficient to borrow.
Swiss bank loan for the unemployed
Since the guarantor himself does not receive any benefits from his guarantee, on the contrary, because he only receives disadvantages, the search for a suitable guarantor can be a little difficult. The first way should always lead to your own acquaintances and families, as these people tend to overlook the poor income situation as unemployed and still issue a loan.
Of course, the will alone is by no means enough to actually get a Swiss bank loan for the unemployed, because many unemployed people find a guarantor who is willing to provide a guarantee, but simply does not meet the financial requirements for loan liability. Therefore, the guarantor must always be confirmed by the bank by providing the same evidence of creditworthiness, as is the case with the actual borrower. Collateral is required by German and Swiss banks alike, with Swiss banks often refraining from asking Credit Bureau.
Immaculate Credit Bureau not necessary for borrowing
A flawless Credit Bureau entry is a positive fact, but it is relatively rare to find, especially among unemployed people. It is therefore advisable for them to go to Swiss banks, which generally issue micro and small loans without asking the German Credit Bureau. The loan amount varies depending on the income, without a Credit Bureau query, loans of up to around 3,000 or 5,000 USD are usually possible.
As always, the Swiss bank credit for the unemployed cannot guarantee that the loan application will be approved, as each case is considered and assessed individually by the banks in Switzerland. Therefore, rejections are quite possible, even if, at your own discretion, the income from the guarantee should be sufficient. If additional unemployment benefits are generated as an unemployed person, for example from a mini-job, these should definitely be mentioned in the loan application, even if the remaining duration of the employment is limited to a short period.
Your own credit rating cannot be significantly increased, but at least one day’s work is done to generate additional income. The Swiss bank loan for the unemployed should always be compared with other providers regardless of the commitment.