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Answers to
All Your Credit Questions

See all questions

All questions

Can the funding amount be adjusted to match the final scope of my project?

Yes, you can generally adjust your funding amount to match the actual cost of your project. If your budget permits, you may borrow more than initially estimated, creating a financial cushion for contingencies or unforeseen expenses. Should you later find that you don't need the full amount, you can repay the excess early without incurring additional costs.

Credit application

Combien puis-je emprunter avec un crédit à la consommation ?

Pour déterminer le montant que vous pouvez emprunter pour un crédit à la consommation en Suisse, il est essentiel d'évaluer votre capacité de crédit.

Ce calcul prend en compte vos revenus et vos charges mensuelles afin de garantir que vous pouvez rembourser le prêt sans compromettre votre budget.

Les étapes clés comprennent :

  • Analyse des revenus : Prise en compte de l'ensemble de vos sources de revenus régulières.

  • Évaluation des charges : Identification de vos dépenses mensuelles, telles que le loyer, les assurances et autres engagements financiers.

  • Calcul de l'excédent : Soustraction des charges totales de vos revenus pour déterminer le montant disponible pour le remboursement du crédit.

Pour une compréhension approfondie de ce processus et pour estimer précisément votre capacité d'emprunt, nous vous invitons à consulter notre article détaillé :

Crédit privé : qu’est-ce que la capacité de crédit ?

Personal Loan Contract

Does my international credit history affect my loan application?

Your credit history abroad may be considered when applying for a loan in Switzerland as a cross-border worker. To better understand how your international credit history might impact your application, we recommend consulting with our team for personalized advice.

Credit application

How can I confirm that my credits have been fully paid off?

To ensure that your credits have been fully settled, the simplest way is to verify this with the Credit Information Center (ZEK). This step is important because a credit contract that has not been entirely repaid might still carry a balance. Such a balance could be claimed by the lender even after several years, potentially leading to financial surprises.

Additionally, an unresolved balance could generate negative solvency codes in the ZEK database, which might harm your credit score and your ability to secure future financing. It can also distort your overall credit commitments as recorded in the ZEK, affecting your financial profile.

This verification is part of the services offered by Credial, ensuring you have peace of mind and a clear financial standing.

Personal Loan Contract

How can I exercise my data protection rights in the context of my credit application?

In Switzerland, you have specific data protection rights under the Swiss Data Protection Act (FADP) when applying for credit. To exercise these rights, you can:

  1. Request Access to Your Data: You are entitled to know what personal information the credit provider has collected about you, how it is processed, and for what purpose.
  2. Correct Inaccuracies: If you identify errors in your data, you can request corrections to ensure accuracy.
  3. Request Data Deletion: In certain circumstances, you may ask for your data to be deleted, particularly if it is no longer necessary for the purposes for which it was collected.
  4. Limit Data Processing: You can request restrictions on how your data is used, especially if you dispute its accuracy or the purposes of its processing.

To exercise these rights, contact the credit provider directly with your request. They are required to respond within a reasonable timeframe. If you encounter difficulties or are unsatisfied with their response, you can contact the Federal Data Protection and Information Commissioner (FDPIC) for assistance.

Personal Loan Contract

How can I verify that my lease has been properly closed with the ZEK?

To ensure that your lease has been successfully settled, you should first contact the leasing organization directly. They can confirm the status of your contract. However, only by ordering a ZEK extract can you verify whether the lease has been officially reported as paid off. This verification is included in the services offered by Credial.

Leasing Contract

How is my personal data used during the credit application process?

Credial’s credit application process prioritizes the security of your personal data at every stage. All of Credial’s partner banks are based in Switzerland, ensuring full compliance with Swiss data protection laws and regulations.

Strict security measures are implemented to safeguard the confidentiality of your information during collection and transmission to partner banks. You can be assured that your data is handled with the utmost care and in accordance with legal requirements.

Data protection

How is my privacy protected during the processing of my credit application?

In Switzerland, your privacy is safeguarded during the processing of your credit application through strict compliance with data protection laws, including the Swiss Data Protection Act (FADP) and the Consumer Credit Act (CCA).

Key measures include:**

  1. Identification Procedures: Ensuring that only authorized individuals have access to your data.
  2. Confidential Exchanges: All communications are conducted securely to maintain confidentiality.
  3. Secure Data Storage: Your information is stored temporarily and protected with robust security measures to prevent unauthorized access.
  4. Purpose Limitation: Your data is used exclusively for assessing and processing your credit application.
  5. Data Retention: Personal data is only retained for as long as necessary to fulfill legal and regulatory obligations.

Your personal data is treated with the utmost respect for confidentiality, in full accordance with Swiss data protection laws and regulations. If you have concerns or wish to learn more, you can request detailed information from your credit provider or consult the Federal Data Protection and Information Commissioner (FDPIC).

Data protection

How is the interest rate for a personal loan determined?

The interest rate on private loans in Switzerland is regulated by the Consumer Credit Act (LCC), which sets a maximum allowable rate. However, the actual rate applied by banks can vary based on several factors. These include changes in the Swiss National Bank's (SNB) key interest rate, the borrower's risk profile, and their repayment capacity.

Credit application

How long does it take to process my private credit application?

The Credial team is committed to minimizing the processing time for your credit application, typically completing it within 24 hours. We work diligently to provide a quick and effective response to your request. However, please note that processing times may vary depending on the complexity of your application and the required documentation.

Credit application

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