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Personal loans

Information Centre for Consumer Credit (IKO)

The work of the Information Centre for Consumer Credit (IKO) is based on the Consumer Credit Act. The IKO is a federal body that falls under the supervision of the Federal Department of Justice and Police FDJP.

According to the Ordinance to the Consumer Credit Act, lenders must report the following information to the IKO for every approved consumer loan and lease:

  • Last name, first name, address, and date of birth of borrower
  • Type of credit
  • Agreement start date
  • Number of instalments
  • Gross loan amount including contractually agreed interest rates and costs
  • Agreement end date (if contractually agreed)
  • Amount of repayment instalments (if contractually agreed)
  • Any payment delays

The following must also be reported to the IKO:

  • Credit and store cards, including credit limit
  • Overdraft limits on current accounts
  • Outstanding payments that amount to at least 10% of the loan amount, or three monthly instalments in the case of a lease
  • Overdraft limits, if an outstanding balance of over 3,000 francs is accumulated over a three-month period

For the credit capacity check, lenders must request information from the IKO regarding any obligations reported for the borrower in question.

Difference between IKO and ZEK: Unlike the ZEK, the IKO only records data pertaining to ongoing obligations that are subject to the Consumer Credit Act. The aim of the IKO is to prevent borrowers from falling into excessive debt.

The IKO is subject to data protection laws. Anyone is entitled to request personal information (link in German and French only) stored about themselves. To do this, you need to send an information request form, with a handwritten signature, together with a copy of an official ID (identity card, passport, driving licence) to the IKO. The IKO is then legally required to provide the information within 30 days.

More information on the IKO (in German and French only): www.iko-info.ch

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