Payday loans for foreigners: Which residence permit enables a loan?

In Switzerland, the market for consumer credit is strictly regulated, both by the banks and by the KKG (consumer credit law). For foreigners living in Switzerland, lending terms are usually more restrictive than for Swiss citizens. What exactly is it about? We have explanations for you. has details

Limited availability of consumer credit

Limited availability of consumer credit

The restrictions for foreigners are primarily imposed by the banks , especially because of the increased risk . A person who has only been living in Switzerland for a few months and who may leave the country quickly poses an increased risk to banks. As a result, banks set a minimum period of employment in Switzerland for foreigners without which it is not possible to do so Get payday loan.

The essential element: the length of employment with the same employer

Although the banks can consider the length of stay in Switzerland, it is primarily the time spent with the current employer that is decisive for the acceptance or rejection of the loan request. The minimum time required depends on the residence permit:

  • Permit C: At least 3 months with the same employer (conditions are the same as for Swiss citizens)
  • Identification cards: At least 3 months with the same employer
  • Permit B: At least 6 months with the same employer
  • Permit G: At least 3 to 4 years with the same employer
  • Approval L: Automatic rejection without exception
  • Other permits: automatic rejection

Are there any other restrictions?


In principle, banks do not impose any other restrictions on foreigners other than those of the same employer. However, other elements can play a role, for example the individual situation. For each credit request, the bank creates a risk profile, which determines whether the request is accepted or not and what interest rate is set upon acceptance. This profile is created for both Swiss and foreign applicants. It cannot be excluded that certain banks classify certain residence permits as more risky than others and reduce scoring accordingly.

Increase the chances of getting a loan

Increase the chances of getting a loan

When making a loan request, it is doubly important to present your dossier as well as possible. On the one hand to increase the chances of a dossier being accepted and on the other hand to get a more advantageous interest rate. It is interesting for Swiss as well as foreigners with a permit to contact a private credit agency, which can help defend the dossier at the bank and take on certain administrative work.

Categories: Payday Loans