Eligibility for expats
Switzerland loan for foreigners: who qualifies with which permit
Permit, time in Switzerland, income and a few registers. That is what Swiss banks look at. Here is every rule in plain English, including the reasons a bank may say no.
By permit
What our partner banks require
With a foreign permit, the most important rule is time: at least 24 months of residence in Switzerland. After that, you are assessed like everyone else, on income and budget.
- Swiss passport: No extra waiting time. Income, debt enforcement and budget count.
- Permit C (settlement): Usually treated like Swiss citizens, no extra waiting time.
- Permit B (residence): At least 24 months in Switzerland and a stable job. Some banks limit the term to the validity of your permit.
- Permit L (short stay): Only in limited cases. Many banks do not lend on a short stay permit.
- Permit G (cross-border): Only in limited cases, usually with a permanent contract at a Swiss employer. This site is built mainly for residents.
- Age and income: 18 to 70 years, about CHF 2,500 net a month or more (pensioners about CHF 3,000). Daily allowances and unemployment benefit do not count.
- Registers: No open debt enforcement and no certificates of loss.
The Swiss credit score
Does Switzerland have a credit score?
Not in the way you may know it from the UK, the US or India. There is no single number. Instead, banks check three sources and your budget.
ZEK: Central Credit Information Office
The ZEK (Zentralstelle für Kreditinformation) is run by the banks. It lists loans, leases and credit cards, and it can also record applications and rejections. Several rejected applications in a short time make the next one harder. That is why one checked request is better than five direct ones.
IKO: consumer credit register
The IKO (Informationsstelle für Konsumkredit) is required by law. It records consumer loans and leases so that no bank lends more than you can afford.
Debt enforcement register (Betreibungsregister)
If someone claims money from you in Switzerland, they can start debt enforcement (Betreibung / poursuite). This is recorded at the local debt enforcement office. An unpaid claim can end in a certificate of loss (Verlustschein). Open entries usually lead to a no. You can order an extract for your address at any time, and it is worth doing before you apply.
Records from abroad
Some banks may also ask about records in your previous country, such as SCHUFA in Germany. A clean record at home does not replace the Swiss checks, but it does not hurt either.
Self-check
Five questions before you apply
Answer these honestly. If all five are a yes, your request has a realistic chance.
Not there yet? That is fine. Use the time to sort out your insurance, which is where many newcomers can save money. The insurance check is free of charge.
- 1. Do you live in Switzerland? With a foreign permit, for at least 24 months? If not yet, note the date when you reach 24 months. That is when a request makes sense.
- 2. Is your job stable? Probation period finished, ideally a permanent contract. With a fixed-term contract, the loan should end before the contract does.
- 3. Do you earn about CHF 2,500 net a month or more? Pensioners about CHF 3,000. Daily allowances and unemployment benefit do not count.
- 4. Are there no open debt enforcement entries? Order an extract from the debt enforcement office if you are not sure.
- 5. Does the instalment fit your budget? Check it with the budget check.
Documents
What you need for your request
- a copy of your passport or ID card,
- a copy of your foreign permit, front and back,
- your last 3 payslips,
- your employment contract if you have been with your employer for less than a year,
- your rental contract or proof of your housing costs.
How the process works
You send one request with the form in English. The credit intermediary checks it and passes it on to a suitable Swiss partner bank. If the bank makes an offer, you receive the contract in German, French or Italian. After signing, you have 14 days to withdraw (Art. 16 KKG). Then the money is paid into your Swiss account.
Honest reasons for a no
- less than 24 months in Switzerland with a foreign permit,
- still in the probation period, or a fixed-term contract that ends soon,
- open debt enforcement or a certificate of loss,
- a budget that does not leave enough room after rent, health insurance and taxes,
- several recent applications or rejections at the ZEK,
- a permit that expires well before the end of the requested term.
Glossary
Swiss terms in plain English
- Permit B / C / L / G (Ausweis / permis): residence permit, settlement permit, short stay permit and cross-border commuter permit.
- Debt enforcement (Betreibung / poursuite): the official Swiss procedure to collect an unpaid claim. It is recorded in a register.
- Certificate of loss (Verlustschein / acte de défaut de biens): issued when a claim could not be collected. It stays on record for a long time.
- ZEK and IKO: the two credit registers banks check before lending.
- AHV / AVS: the Swiss old age and survivors’ insurance, the 1st pillar. Your AHV number starts with 756 and is printed on your health insurance card.
- 3rd pillar (Säule 3a / pilier 3a): private pension savings with a tax deduction. More on the insurance page.
- Withholding tax (Quellensteuer / impôt à la source): tax deducted directly from your salary, usually with a B permit.
- KKG: the Swiss Consumer Credit Act, which sets the rules for personal loans.
Questions
About eligibility
I arrived recently and need a car. What can I do?
With a foreign permit, our partner banks need at least 24 months of residence in Switzerland. Until then, a personal loan through us is not possible. Some car dealers offer leasing earlier, but check the total cost carefully. Note the date when you reach 24 months, and use the loan calculator to plan.
I am on a fixed-term contract, for example at a university. Can I apply?
Yes, but the loan term should end before your contract does. If your contract runs for two more years, plan a term of up to about 24 months. Mention your contract end date in the request.
Can I apply during my probation period?
It is difficult, because your income is not yet secure. Once the probation period is over, your chances are much better.
Does an open loan affect my C permit application?
The migration office looks at whether you meet your financial obligations. What usually counts against you is unpaid bills, debt enforcement or certificates of loss. A loan you repay as agreed is a normal contract. If you are unsure, ask your cantonal migration office.
My permit B expires next year. Is that a problem?
Not necessarily. Some banks simply limit the term to the validity of your permit. A shorter term that matches your permit is easier to approve.
I live in France and work in Geneva. Can I apply?
Only in limited cases. Cross-border commuters (permit G) are assessed individually by a few banks, usually only with a permanent contract at a Swiss employer. This site is built for people living in Switzerland. Our sister site credivaris.ch covers the topic in French and Italian.