Personal credit, bank credit, specific credit, consumer credit...what does it all exactly mean? If you have never requested a credit in Swizerland or if you wish to know more about it, here are some explanations to help you go through all the terms.
The term credit refers to a loan and the “bank credit” one refers logically to a loan taken from a bank. In the end, there is no real difference between a credit and a bank credit. Let’s discover why:
Most of the time, a credit that is not processed through a bank will be illegal or a scam in the worst case. Even if this is a very regulated sector in Switzerland, there is unfortunately many scam cases still. Therefore we suggest you to be careful, especially if someone offers you a credit from independent to independent or an extremely low interest rate. The only valid exception to the bank credit is the leasing solution without a bank. Even if this is not a real credit (the car is “lended” on a long term duration and does not belong to you), the leasing is a funding solution that is not processed through a bank.
Even if each type of loan is in the end a bank credit, you will find various names when it comes to the credit sector, primarly for marketing reasons. The main examples are:
In the end, even if credit agencies multiply names for marketing reasons, all these loan types are well and truly bank credits.
The best way to avoid scam situations and to benefit from an advantageous offer, is to consult a credit expert. Our partner Creditloan (www.creditloan.ch) will be more thank happy to get you a free analyse of your situation in order to offer you a tailored financial solution. Do not hesitate to contact them for a free and non binding offer!