The ability to find a Swiss loan for retirees is extremely limited. The requirements for a Swiss loan are clearly defined. Meeting these criteria as a pensioner is only possible in rare exceptional cases. The article provides more information on Credit bureau-free credit options and alternatives for pensioners.
Swiss loan for pensioners – almost impossible
The idea of being able to grant a Credit bureau-free loan is based on the easy attachment of the work income. Two things speak against a Swiss loan for pensioners. The main reason is the amount of the pension. According to official information, an average pension is less than 1,000 USD net. This means that the pension as an income is mostly attachable. In addition to the pension, the retirement income, unlike the pension, is subject to additional garnishment protection. In principle, it could be attached, but the effort required is significantly higher than with other types of income.
Hurdles for Credit bureau-free loans to pensioners
The next hurdle that an “old-age pensioner” cannot overcome is the age limit for Credit bureau-free foreign loans. As far as is known, only one foreign bank has legally offered a Credit bureau-free loan for Germans since 2010. It is Banks from Liechtenstein. Old promotional offers are sometimes still displayed on the Internet. These offers disappeared due to the financial crisis and the intervention of BaFin (banking supervision).
Banks has restricted access to the Credit bureau-free loan to prospective borrowers who are 57 or younger. The only pensioners who have a real chance of a Swiss loan for pensioners – Liechtensteiner loan for pensioners are occupational disability pensioners. (BU pensioners). Those who were already entitled to a BU pension in December 2000 saved their pension benefits across the agenda reform. The same applies to new disability pensioners born before 1961.
These pensioners can earn an almost unlimited amount on their pension. Anyone who can prove such a net working income of at least 1,130 USD as a single person has credit opportunities.
Credit conditions Swiss credit – qualified pensioners
You can only qualify for a loan without Credit bureau from Liechtenstein if you are not entered in the public debt register. There is no credit with an affidavit or for people looking for a warrant. Likewise, there are no credit prospects for garnishment or bankruptcy.
Anyone who can qualify for the Swiss loan for retirees receives the same credit terms as any other borrower. A Credit bureau-free loan is only provided in two sums. The loan is always repaid in 40 constant monthly installments. You can apply for: 3,500 USD without Credit bureau credit at an annual percentage rate of 11.62 percent. The alternative is a 5,000 dollar loan at an annual percentage rate of 11.61 percent.
In both cases, a minimum income must be proven. The above figures apply to single people. For 3,500 USD of credit, a net income of 1,130 USD has to be proven, for 5,000 USD it is 1,600 USD.
Alternatives to the foreign loan for pensioners
The chances of qualifying for a Credit bureau-free loan for retirees are minimal. A fair credit opportunity can only be found through a loan despite Credit bureau. Of particular note are the opportunities that credit offers from private donors. The largest portals that can be used to contact private investors are Smava (Link: www.smava.de) and Auxmoney. A loan despite Credit bureau is only possible in cases where the Credit bureau is not completely ruined. However, an entry marked as done is no reason for exclusion.
Another option would be to contact a credit broker. Serious credit brokers know specialist banks that allow financing despite Credit bureau. An example of this would be that of Essen Bank. If in doubt, a German credit bank would also have the option of asking a guarantor for help. With Swiss credit for pensioners, this is not possible via the foreign bank.
Emergency loans that are also available to pensioners
No pensioner should make too big credit hopes despite Credit bureau or without Credit bureau. Credit brokers who still raise hopes and then request a call back on a service number are likely to be scammers.
In this almost hopeless credit situation, it is advisable to only contact an established credit broker. Best credit could be mentioned as one way of doing this. If an established intermediary cannot help, then neither a Swiss loan for pensioners nor a loan despite Credit bureau are an option