Loan guide: The most important tips and tricks
You can find the most important tips and tricks for applying for a loan in our loan guide. With our loan guide you can avoid loan rejections.
1. Check your financial situation
Check your current financial situation carefully. Make a list of your income and expenditure and calculate how much you can afford each month to repay the loan without getting into financial difficulties.
2. Check loan requirements carefully
Think about whether the loan is really necessary. Sometimes there are alternative financing options or you can postpone the purchase and save until you have saved up the amount. If you need a small loan, you can apply for a
3. Compare loans
Compare different loan offers from banks and online providers. Use the
4. Check loanworthiness
Check your loan rating before you apply for a loan. A good loan rating improves your chances of obtaining favourable loan terms. In Switzerland, you can have your loanworthiness checked by the ZEK (Swiss Central Office for loan Information) or other loan agencies.
5. Avoid unnecessary ZEK entries
Only submit loan applications to providers with whom you have a good chance of being approved. Every rejected application is noted in the ZEK database and can have a negative impact on your loan rating.
6. Choose the term of the loan carefully
Choose a term that suits your financial situation. Shorter terms mean lower total costs but higher monthly instalments. Use the loan calculator to simulate different scenarios and find the best option for you.
7. Fully understand loan costs
Pay attention to all costs associated with the loan, such as processing fees, insurance and possible early repayment penalties. Read the small print and make sure you understand all the conditions.
8. Use online loans
Online loans are generally more favourable than traditional bank loans. This is because online loans have lower operating costs. However, please note that the best online loans often have strict lending criteria. The more favourable the loan, the stricter the loanworthiness requirements usually are.
9. Prepare the necessary documents
Make sure you have all the necessary documents ready for the loan application. This includes salary statements, bank statements and, if applicable, a copy of your employment contract.
10. Avoid dubious providers
Make sure the lender is reputable. Be wary of providers that promise extremely low interest rates or instant loans without a loan check. Research the provider and read customer reviews to make sure it is a reputable company.