The minimum income for a Swiss loan is based on the marital status and the debtor’s maintenance obligations. Single persons without maintenance obligations should have a net income of at least 1,210 usd.
But we recommend at least 1,660 usd for a loan amount up to 5,000 usd. As the amount of credit increases, the credit banks demand a higher income than security (see chart).
If you can show the minimum income, apply directly here for a Swiss loan without credit bureau.
For married and dependent persons, correspondingly higher and regular payments must be demonstrated. In general, before applying for a loan, any prospective buyer should compare their income to their expenses.
If there is a free sum that can be used for the repayment of a Swiss loan, these are already very good conditions that at least partially pave the way to the loan.
Why is a minimum salary necessary?
The basis of the loan guarantee is linked to a secure monthly minimum income for a Swiss loan. Therefore, the income, depending on personal circumstances, must exceed the exemption limit of attachment and should also be significantly higher.
The attachment exemption limit is in 2018 at currently 1139.99 usd for an individual without further maintenance obligations. Guarantors or collateral in the form of physical assets can not be used as compensation for a low net income. Here, a second applicant with the minimum income for a Swiss loan would have to sign the loan application.
Employees whose income is seized or whose assignment of the attachable portion of the income has already been executed can not receive a loan.
Why is no other proof of minimum income possible?
The minimum income for a Swiss loan is prescribed because it is one of the only ways for the lenders to assess the creditworthiness of the borrower. There is no credit without credit rating, only the credit check by the credit bureau is omitted.
The inquiry with the credit bureau should be omitted with these loans and also not registered. Therefore, banks from abroad have to assess their creditworthiness on the basis of disposable income and the overall economic situation.
The higher the net income available and the lower the monthly expenses, the more likely the loan approval.
Swiss credit without proof of income?
Each bank and each credit institution must operate according to business principles and, of course, protect itself from financing for the ability to repay the borrower. You therefore need current proof of income from your current employer. As a rule, the last 3 salary statements are requested. As to the proof of wages, an assignment statement for the salary is also requested.
To check whether the earned income is sufficient for the repayment of the loan, you will also request the bank statements of the last 3 months from you. From this, the lending bank can identify which ongoing obligations you already have to service, and which income can be compared to the expenses. If your earnings exceed monthly commitments and there is enough financial leeway for another monthly installment, then lending should not be in the way.
If you currently have no income from work, collateral such as life insurance, securities (eg shares) or a land charge may also be submitted under certain circumstances. Possibly also unemployed persons, pupils / students or independent entrepreneurs can receive a loan from Switzerland.