Personal credit, bank credit, earmarked credit, consumer credit … what do all these names really mean? If you have never made a loan in Switzerland, or want to get your bearings better, we offer some explanations.
Where the term credit designates a loan, bank credit very logically designates a loan made from a bank. In the end, what is the difference between a loan and a bank loan? In reality, in Switzerland, there is no real difference. Indeed:
In most cases, credit that does not go through a bank is illegal at best, and a scam at worst . Indeed, despite a highly regulated sector, there are many cases of scams in Switzerland. It is therefore advisable to remain cautious, especially if the person offering you a credit talks to you about a loan from individual to individual or about extremely low interest rates. The only notable exception to bank credit is leasing without a bank. Although it is not in fact a loan (the car is “rented” for the long term and does not belong to you), leasing without a bank is effectively a financing solution that does not go through a bank. This is the only exception.
Even if all loans are for bank credits, there are, for marketing reasons above all, many different names for credits. The main examples are:
In the end, if the credit companies do not hesitate to multiply the names for marketing reasons, all these types of credits are bank credits.
The best way to avoid scams and make sure you benefit from an advantageous offer is to go through a credit specialist. Thus, our partner Copy Lender Bank will gladly offer you a free assessment of your situation in order to offer you a loan offer adapted to your needs as well as to your budget. contact for a free offer with no obligation.