With an installment loan, many wishes can be fulfilled. However, before the loan is approved, the applicant’s creditworthiness is checked at Credit bureau in all cases. This happens in seconds, because every bank is directly connected to Credit bureau online.
A negative entry does not necessarily mean that a loan request is rejected. Ultimately, it depends on the corresponding note. In this case, the borrower must expect higher interest rates. But there is another way. The magic word is: installment loan that is independent of creditworthiness.
Non-credit installment loan
The first thing that catches our eye when advertising banks is the low interest rates. But if you take the trouble to study the small print in detail, you will quickly notice what the interest is all about. In most cases, they are calculated based on the applicant’s creditworthiness.
Hardly anyone has a good Credit bureau to take advantage of these low interest rates. An installment loan that is independent of creditworthiness is usually only available from banks that do not query Credit bureau. These are not to be found in Germany, but these banks are based abroad.
The Swiss loan
Swiss credit is particularly well known in this country. The Credit bureau is never asked for this credit-independent installment loan. There is also no notification to Credit bureau about the loan taken out, as is otherwise the case in Germany. If you are at least 18 years old and have a steady, regular income from a job, you can apply for this Swiss loan. But the anticipation for such a loan does not last long if the applicant cannot meet these requirements.
The self-employed and the unemployed have no chance of getting a loan here. A mediation takes place via financial service providers who take care of all the necessary formalities and forward the documents to the appropriate bank in Switzerland. An inquiry does not cost money. Fees are only payable if the placement is successful. But anyone who doesn’t get a loan in Germany should be happy to accept that.