Consumer credit: for whom and for what purpose?

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What is a consumer credit?

A consumer credit is a loan granted by banks to individuals. This type of credit is used by households that wish to finance goods or services. In general it gives the possibilty to cover heavy expenses like house furnitures or cars. Mortgage and professional credits as well as debts to particulars (friends, family,…) are not considered consumer credits. These loans usually allow to finance the following types of goods:

  • Vehicle credit: to purchase cars, motorcycles or scooters.
  • Home furniture credit: for decoration and home improvements, furnitures, domestic appliances, television, swimming pool,…
  • Leisure activity financing: sport equipment for example.
  • Daily expenses and bills: a consumer credit can also be used to cover daily costs related to health, education, children needs, or any other bill.

Population particularly prone to a consumer credit

On a socio-demographic level, consumers that are less than 50 years old, families with children, foreigners and renters are more prone to a consumer credit. In the French-speaking part of Switzerland, more than one in four people uses a credit while one in six in the German-speaking part.

Consumer credit for all

Even if statistics show that some ranges of population are more prone to request consumer credits, such loans are used by many people who simply wish to get some financial help in order to achieve personal projects. In Switzerland, this type of credit adapts to any situation!

  • Credit for employees: fixed or temporary salaried employees.
  • Credit for AVS/AI pensioners: it is possible to request a personal loan as a AVS or AI pensioner.
  • For Swiss and foreigners: Swiss citizens and foreigners working in Switzerland with any establishment permit or legitimation card.

Get some information!

Do you want to get a consumer credit any time soon? We suggest you to get some accurate information before making any commitment. Every request is registered into a credit central, therefore it is better to avoid any useless request. An experienced and specialised credit agency like Multicredit could offer you a free and confidential analyse to help you estimate your loan possibilities.

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