CREDIT-now loan
Traditional instalment loans
Effective annual interest rates ranging from 6.9% to 10.9%
Preferential interest rates from 5.9% to 10.5% for homeowners.
Loan amounts from CHF 5,000 to CHF 250,000
Repayment terms from 6 to 84 months
CREDIT-now loans product features
The preferential interest rate ranging from 5.9% to 10.5% only applies to sole and joint homeowners in Switzerland.
In exceptional cases, BANK-now offers loans for amounts greater than CHF 250,000.
BANK-now offers you the option of purchasing payment protection insurance. This provides cover in the event of death, unemployment, disability, illness or accident.
You are required to notify the lender of any change of address.
All collection expenses and debt enforcement costs are charged to the customer.
The loan can only be paid out into an account in Switzerland.
BANK-now AG Loan approval
The actual interest rate for your loan will be determined after the application is submitted.
For all credit rating categories, including the self-employed, those drawing an old-age and survivors’ pension (AHV) or disability insurance (IV), and temporary employees. Depending on the situation, even borrowers with a statistically higher risk of defaulting on payments, such as self-employed applicants or single parents, still have a chance of being approved for a loan.
Lenders do not publish their full lending and interest rate criteria.
Our loan comparison provides an overview of the interest rates offered by other lenders.
1. Protection from over-indebtedness
The Consumer Credit Act applies to loans of up to CHF 80,000. For loans above this amount, consumers are not protected by the Consumer Credit Act. Calculate approximately how much you can afford to borrow.
2. Choose repayment term
The benefit of a longer repayment term is that the monthly instalments are lower. The longer the repayment term, however, the higher the total cost of the loan.
Nevertheless, it is advisable to plan realistically and, in particular, budget for irregular and unexpected costs.
You can pay off (amortize) the loan earlier at any time, which will reduce the cost of your loan.
3. ZEK and credit check
The Central Office for Credit Information (ZEK) is a platform for banks to exchange information on the credit standing of their clients. The ZEK registers all information on transactions involving personal loans, car leases and credit cards. If anybody promises you a loan without involving the ZEK, this is usually an untrustworthy lender.
Learn more about credit score.
4. Eligibility criteria
Each lender specifies his own risk and approval criteria, which are not or only partially communicated to customers or the general public for security reasons. Visit loan eligibility criteria and applying for a loan for more information.
Did you know…
Each loan provider assesses your profile differently.
Around 50% of loan applications sent directly to lenders are rejected.
If your application is rejected, you usually won't learn the reason why.
Every rejected loan application is registered with the ZEK and can be viewed by member lenders for a period of two years.
Increase your chances of getting a personal loan: Comparis works with Credaris to improve the provision of independent advice on the Swiss credit market.
Credaris reviews the client's individual situation in detail and negotiates with lenders to get the best deals available on the market.