Requirements for the granting of a personal loan

If you want to buy goods or services of a certain value, many are increasingly resorting to a personal loan. In the country, too, a private loan is only issued after a series of preliminary checks if certain requirements are met. Let’s look at the most important ones together.

A loan in the country: requirements

A loan in the country: requirements

In order to receive a loan in the country, some requirements must be met. The basic requirements are essentially four:

Age

The age group approved for a loan is between 18 and 65 years. People aged 65 to 69 can apply for a personal loan, but must repay the loan before they reach the age of 70.

Nationality

Nationality

Citizenship, type of residence permit, work permit or legitimation card as well as the place of residence have a direct impact on the conditions for granting a private loan in the country.

All people with citizenship who live in the country or live in Liechtenstein fulfill this condition. While people with citizenship and primary residence abroad are subject to the same regulations as cross-border commuters with a G residence permit.

Residence permit or work permit

Credit applications from people with a B, C, G or L residence permit must meet the following conditions:

Persons with a residence permit B or L must have had the permit for at least 6 months .

For people with G a permit (cross-border commuters), the feasibility of the loan varies depending on the minimum duration of the employment contract with the same employer in the country.

The professional situation

The professional situation

Both full-time and part-time workers can get a personal loan. Possible jobs included are: Employee at company or employer, employee of your own company, self-employed or part-time worker.

The financial situation

In order to apply for a personal loan, you must present an ongoing employment contract and documents showing a minimum monthly income of USD 2,800 according to taxes.

If you are already a debtor, you must have a relative who is solvent or has less than USD 20,000 in debt.

Finally, married persons or couples with a registered partnership must also send the documents of the spouse or partner in order to receive a personal loan.

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