How can I improve my stability when applying for credit?

Improving your stability when applying for a private loan in Switzerland means highlighting the factors that demonstrate your ability to maintain a steady personal and professional situation. Lenders value files in which stability is clearly evidenced, as it indicates your reliability in repaying the loan. Here are some suggestions to strengthen this criterion:

1. Strengthen Your Professional Situation

• Job Tenure
  Aim for long-term employment with the same company. Significant tenure—especially under an open-ended employment contract—reassures lenders about the consistency of your future income.
• Career Development and Training
  Invest in courses or certifications to enhance your employability and show your commitment to professional growth. A stable career path with positive progression builds trust with financial institutions.
• Document Your Income
  Keep and present pay slips, employment certificates, and contracts. These documents substantiate your application and prove that your income is steady and reliable.

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2. Ensure Residential Stability

• Long-term Residence at the Same Address
  Lenders appreciate housing stability. Living for several years at the same address demonstrates your social roots and commitment to your community—often viewed as a sign of financial responsibility.
• Proof of Address
  Provide recent utility bills, rental agreements, or official residency certificates to underscore this stability. This helps reassure lenders of your integration into the local community.

3. Improve Your Personal Situation

• Stable Civil Status
  While not the only factor, a stable civil status (for example, being married or in a committed partnership) can strengthen your file. Banks often associate a steady family situation with better financial management.
• Commitments and Responsibilities
  Show that you take your responsibilities seriously—whether through community involvement or long-term investments (such as life insurance or regular savings plans). These commitments demonstrate your long-term orientation.

4. Prepare a Transparent Supplementary File

• Banking History and Previous Loans
  If you have taken out loans in the past and have repaid them regularly, this is a strong indicator of stability. Make sure your banking history reflects consistent payments.
• References and Recommendations
  Some applications can be bolstered by letters of recommendation from your employer or current bank, attesting to your reliability and financial stability.

Key Points to Emphasize Before Applying for a Loan in Switzerland
Focus on three main areas to improve your stability:

1. Professional Stability
   Solidify your job tenure and present a positive career trajectory.
2. Residential Stability
   Live long-term at the same address and provide solid proof.
3. Balanced Personal Situation
   Highlight a stable civil status and long-term commitments.

By strengthening these aspects and submitting a complete, transparent file, you demonstrate to lenders that you are a trustworthy borrower with the resources and stability needed to meet your financial obligations. This will improve your “stability score” and, consequently, help you secure more favorable loan terms and interest rates—paving the way for smoother financing of your projects.

An article by Munur Aslan, Director of MultiCr