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Old 30.11.2011, 20:32
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Private loans in Zurich

Hi all,

hope you're doing well. I'm looking for a private credit for an investment and I'd like to ask if someone has gone through it.

My idea:
Amount: CHF 70'000
Duration: 60 months

I checked on comparis.ch and seems the monthly instalment is around CHF 1350 / 1500, which is actually the money I'm able to save every month with (almost) no problem.

Seems Migros bank (only via internet) has the better rates, hasn't it? But the pain in the (*) is that the webpage is available in FR,DE and IT (no english)

But, reading on the "details" page, I found something that looks really strange, one of the clauses says:

Request to employer in case of contract conclusion Yes, possible
Request to employer in case of contract conclusion: Yes, possible
What does it mean?

other questions are:
- Do they ask you about the destination of the loan? (I think so...but it's only just a tick on "destination of the money" form?)
- How does the "online" system works? do you get the money transferred to your account as soon as you're approved?
- Besides the salary receipt, contract, permit (i have a "B" one)
- What thinks should I consider besides these ones? (fine print?)
- Any other bank to recommend?

Notes:
- I've B permit till 2015, living in CH since 2010
- unlimited time contract with a very well recognized company

Thanks a lot for your help.
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Old 30.11.2011, 23:35
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Re: Private loans in Zurich

It probably means they check with your employer to make sure that your income is what you say it is.
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Old 30.11.2011, 23:53
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Re: Private loans in Zurich

before you go any further, are you sure:

1) you want to be in debt? For 5 years ?
2) your investment is going to work - what % return per year will you really get? It has to be at least double the interest you will pay to make it worth it.
3) you can really afford to pay back the credit EVERY month?

Maybe you have considered it at length, but if not...

you can PM me if you want to be discrete....

W
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