The Best Small Loan in Switzerland
You can apply online for the best Swiss small loan with Checkall up to CHF 20,000 and take out a favourable loan in just a few steps.
What is a small loan (mini loan)?
A small loan or mini loan is a colloquial term for a loan for a rather small amount, which is often used for short-term financial bottlenecks or unexpected expenses, such as a dental bill. Small loans are characterised by their short term and the quick availability of the money, often within 24 hours of approval. Although the interest rates for small loans tend to be higher, as they represent a higher risk for the lender, the creditworthiness requirements are often less stringent. A small or mini loan is therefore basically nothing more than a consumer loan, provided it fulfils these characteristics. There is no official maximum limit for small loans. Small loans are considered consumer credit as soon as the amount is higher than CHF 500 and fulfils the other criteria.
When should I take out a small loan?
You should take out a small loan if you are faced with unexpected expenses. For example, a dental bill that turns out to be higher than expected or the repair of your car. In such cases, a small loan can close the financial gap and help you quickly and easily.
How can I apply for a small loan in Switzerland?
To apply for a small loan in Switzerland, you usually submit an application to a bank or credit institution. You can do this conveniently online, by telephone or in person. You must fulfil certain requirements, such as a regular income and a good credit rating.
Terms and interest rates of the small loan
A small loan has interest rates between 4.90% and 9.90%, and the terms of the small loan can be chosen between 6 and 84 months. The possible loan amount ranges from CHF 3,000 to CHF 250,000.
| Minimum interest rate | 4.90% |
| Maximum interest rate | 9.90% |
| Running times | 6 to 84 months |
| Loan amount | CHF 3'000 - CHF 250'000 |
Requirements for the small loan
To apply for a small loan, you must fulfil the following requirements:
- Minimum age 20 years
- Residence in Switzerland
- Swiss citizenship, residence permit (B/C permit)
- Regular income (permanent and permanent employment contract)
- Financial sustainability of the loan
Costs of the small loan
The costs of the small loan are as shown in the table below.
| Small loan amount | Runtime | Interest | Monthly instalments | Total costs |
|---|---|---|---|---|
| 3,000 francs | 24 months | 4.9% | CHF 131.25 | 3'152.40 |
| 4,000 francs | 24 months | 4.9% | CHF 175.10 | 4'202.40 |
| 5,000 francs | 24 months | 4.9% | CHF 218.90 | 5'253.60 |
| 6,000 francs | 24 months | 4.9% | CHF 262.65 | 6'303.60 |
| 7,000 francs | 24 months | 4.9% | CHF 306.45 | 7'354.80 |
| 8,000 francs | 24 months | 4.9% | CHF 350.25 | 8'406.00 |
| 9,000 francs | 24 months | 4.9% | CHF 394.00 | 9'456.00 |
| 10,000 francs | 24 months | 4.9% | CHF 437.80 | 10'507.20 |
| 11,000 francs | 24 months | 4.9% | CHF 481.55 | 11'557.20 |
| 12,000 francs | 24 months | 4.9% | CHF 525.35 | 12'608.40 |
| 13,000 francs | 24 months | 4.9% | CHF 569.15 | 13'659.60 |
| 14,000 francs | 24 months | 4.9% | CHF 612.90 | 14'709.60 |
| 15,000 francs | 24 months | 4.9% | CHF 656.70 | 15'760.80 |
| 16,000 francs | 24 months | 4.9% | CHF 700.45 | 16'810.80 |
| 17,000 francs | 24 months | 4.9% | CHF 744.25 | 17'862.00 |
| 18,000 francs | 24 months | 4.9% | CHF 788.00 | 18'912.00 |
| 19,000 francs | 24 months | 4.9% | CHF 831.80 | 19'963.20 |
| 20,000 francs | 24 months | 4.9% | CHF 875.60 | 21'014.40 |
What are the advantages of a small loan?
Small loans offer flexible solutions without earmarking, simple repayment options and quick availability. Small loans are ideal for repaying existing loans, bridging financial bottlenecks or making necessary investments.
Your advantages with us
At Checkall, you benefit from comprehensive personalised advice from our credit experts, who are on hand to help you with all matters relating to small loans, whether it's taking out a small loan, paying off your credit card or improving your credit rating. We compare the interest rates of various Swiss credit providers to find the best small loan for you and help you to clean up your credit rating to increase your chances of being approved for a loan. We also take care of the entire process from calculation to disbursement and remain your point of contact afterwards.
Which banks offer small loans in Switzerland?
Cembra Money Bank, Cashgate, Bank-now, Bob Finance and Migros Bank offer small loans in Switzerland.
Similar loans to the small loan
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Frequently asked questions about small loans
The frequently asked questions about small loans are listed below:
Yes, you can repay the small loan early like all other loans.
No, you cannot take out a small loan in Switzerland despite a poor credit rating.
There are several alternatives to taking out a small loan in Switzerland. One option is to borrow money from family and friends, which often involves more flexible repayment terms and lower or no interest. Another alternative to small loans are credit cards with an instalment payment option, where larger amounts can be repaid in instalments.