Newcomer credit

For a newcomer to Switzerland, obtaining a personal loan generally follows these steps:

1. Choose the right bank or broker, such as MultiCredit
Large banks (UBS, Credit Suisse, Raiffeisen, Cantonal Banks) offer a wide range of solutions. Smaller institutions or lenders specializing in expatriate loans may be more flexible with new arrivals.
– Compare interest rates, application fees and terms (loan duration, maximum amount, required life or disability insurance…).

2. Compile your application file
For a non-diplomatic resident, the bank will typically require:

• A valid residence permit (B or C)
• A permanent employment contract (or, for a fixed-term contract, proof of possible renewal)
• Your last three payslips and, if available, an employer’s certificate
• Bank statements for the past 3–6 months
• Proof of address (rental contract, rent receipt)
• A financial plan detailing your monthly income and expenses

3. Simulation and interview
– Run an online or in-branch simulation to receive a preliminary offer.
– Then schedule a meeting with a banking advisor: they will review your collateral, assess your repayment capacity (max. about one-third of your income) and refine the offer.

4. Decision and fund disbursement
– After submitting a complete file, the bank’s decision usually takes 2–4 weeks.
– Once approved, the bank prepares the loan agreement; signature and disbursement follow within a few days.

Why diplomats get credit faster

Diplomats (staff of foreign missions, the UN, the EU, etc.) enjoy a special status in Switzerland:

• Diplomatic passport and headquarters agreements grant the bank enhanced legal and financial security.
• State guarantee: their sending country often guarantees repayment, drastically reducing the bank’s risk.
• Accelerated process: without the standard solvency check, the bank can approve a loan in just a few business days.
• Dedicated offers: MultiCredit has extensive experience arranging financing for diplomats.

Key takeaways

• For an ordinary new arrival, prepare a solid file (permit, payslips, bank statements, guarantees if needed) and allow 2–4 weeks for approval.
• For a diplomat, simply presenting the diplomatic card and a letter from the mission often secures a loan within a week—or even faster—under privileged conditions.

Feel free to contact multiple banks to compare offers and, where available, request special expatriate or diplomat packages.

💬 Get started! Reach out today to kick off your personal loan.
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Article by Munur Aslan, Director of MultiCredit