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Frequently asked questions

Would you like to apply for a personal loan in Switzerland? Find out what banks and lenders look for when evaluating you and maximise your chances of approval.

What requirements must I fulfil in order to take out a personal loan in Switzerland?

In order to obtain a personal loan in Switzerland, it is necessary to prove your creditworthiness in accordance with the Consumer Credit Act. This includes the ability to repay the loan within 36 months, including interest.

  • Swiss citizenship or a valid residence permit for foreigners.
  • Minimum age of 18 years old.
  • Young applicants under the age of 25 may be subject to additional restrictions such as higher interest rates or credit limits.
  • Be able to provide proof of regular income.
  • Positive credit rating: no current debt collection or late payments.
  • Certain banks may have additional requirements, such as a minimum period of employment.
What role does my employment situation play in the lending process?

Your employment situation is crucial for the granting of a loan.

  • Permanent employees: Require verifiable stable income and completion of probationary period.
  • Self-employed: Require either formal employment in your company or proof of income via your tax return.
  • SMEs: Require a minimum of 24 months in business.

Akman Finance offers application preparation support to maximise the chances of approval.

Can I use a personal loan in Switzerland for business investments?

No, private loans should only be used for personal financing and are not suitable as risk capital for companies.

Can I apply for a loan if I have debts with a debt collection agency?

If your debts have been settled, you may be eligible for a personal loan. However, it is important to prepare the application carefully to maximise the chances of approval. Akman Finance can help you prepare an application that meets the bank's requirements. If you have any questions, please do not hesitate to contact us.

What happens if a loan application is rejected?

Rejection of a loan application will result in you being listed in the ZEK database, which can make future loan applications more complicated. Therefore, a thorough understanding of the lending criteria is crucial to improve the chances of success. Clarity on these conditions is crucial to ensure approval of the application.

How do debt collection proceedings affect my chances of getting a loan?

Debt enforcement proceedings can affect your chances of getting a loan, as they represent potential risks for lenders. People who have had enforcement proceedings in the past or have filed for bankruptcy may be considered riskier borrowers by banks. This can lead to you either not being granted a loan or being offered less favourable conditions. We will be happy to help you review your financial situation and find suitable solutions to improve your chances of obtaining a loan.

What role does my solvency play in the granting of a loan?

Your solvency plays a decisive role in the granting of a loan. A positive payment history can lead to more favourable interest rates. Lenders check your ability to pay on the basis of previous payments and use databases such as the Central Credit Information Office (ZEK), the Consumer Credit Information Centre (IKO) and various credit agencies.

What is the ZEK?

  • An organisation in Switzerland that evaluates your payment behaviour for private financing such as loans and cards.
  • Uses various codes to define your payment quality and influence your rating.

Some ZEK codes:

  • 03: Late payment of monthly instalments.
  • 04: Payment not honoured, payment agreement in progress.
  • 05: Private finance payment stopped, contract not repaid.
  • 09: Fraud, falsified data.
  • Codes 05 and 09 mean that further private financing is not possible.

What is the IKO?

  • The legally prescribed information centre for consumer credit in Switzerland.
  • Collects data on credit and leasing transactions by private individuals, based on the Consumer Credit Act.

Difference between IKO and ZEK:

  • IKO only stores data on outstanding debts that are subject to the Consumer Credit Act in order to prevent over-indebtedness.
  • The right to inspect the data at IKO can be exercised by sending a personally signed information form with a copy of an official identity document to the Consumer Credit Information Centre. The legal deadline for providing information is 30 days.


How does my residence permit influence the granting of credit? (C,B,G,L)
  • People with a C residence permit are generally accepted by most banks without any problems.
  • People with a B residence permit may have to wait a certain period of time from the date of issue to obtain a loan. Some banks require repayment by the expiry date of the permit and may impose higher interest rates and loan amount limits.
  • The approval of loan applications for people with G or L authorisation is usually difficult. However, there are exceptions with some of the banks we work with.
Can I apply for a personal loan as a pensioner?

People of pensionable age can apply for a loan. We will calculate how much you can borrow, taking into account your various pension incomes.

How can I protect myself in the event of a loss of income?

As part of your application, Akman Finance will work with you to define the financial risks in the event of illness, accident or unemployment.

If necessary, our customers can benefit from our expertise and our favourable conditions for our loss of earnings insurance.

This is taken out at the same time as your loan and guarantees you complete protection in the event of a loss of income.

To what extent can alimony payments affect your chances of getting a loan?

Alimony payments can affect your credit chances as they are either considered expenses or income. Alimony paid will increase your monthly expenses, while alimony received may not be counted as income. The number of children in your household and the associated costs can also be taken into account.

 Do you have any more questions? We are happy to help.