Private credit is a simple and quick answer
To buy a new vehicle, go on a trip, pay off debts or face an unforeseen event, private credit is a simple and quick answer to all the needs of individuals. Also called personal loan, this type of financing is offered by a large number of financial institutions and banks in Switzerland. Despite significant competition between the various institutions, it is not uncommon to obtain rate proposals oscillating from one to two for the same loan application.
Faced with this problem, how can one be certain of obtaining a private credit at the best rate? What are the tips to apply to put all the chances on his side? Answers.
Tip # 1: Carefully prepare your private credit application
To realize your projects, you plan to subscribe a private credit? It is important to remember that the first impression of your interlocutor during your request will largely determine the quality of your financial proposal. This first impression is strongly linked to the care taken in the preparation of his loan application. Before presenting the latter, it is thus necessary to gather all the supporting documents necessary for the granting of a personal loan. Demonstrating organizational capacity is always something that is positively analyzed by a financial advisor.
Good to know: this careful preparation will not only allow the future borrower to obtain the best financial conditions, but also to save time and obtain his private credit more quickly.
Tip # 2: Highlight the strengths of your record
An objective and realistic look at his request: Am I in a position to repay the credit? Is my income sufficient? Is my debt in the norm? The answers to these questions are a first indication of whether or not it is easy to obtain funding for the project. If the financing file has negative points, credit institutions will tend to increase the interest rate applied. Through the analysis, the applicant will be able to present and highlight the strengths of his private credit application.
Tip # 3: Solicit multiple private credit proposals
While good preparation of its private credit application is important, it is still necessary to solicit several financial organizations to ensure the best rate. Indeed, it is common to note significant differences between two proposals for an identical file. For this, it is possible to apply for funding from several traditional banks. However, this solution has a disadvantage: the time to devote is important. Indeed, it is then necessary to go to several appointments and to multiply the contacts. To avoid this inconvenience, another solution exists: specialized financial organizations negotiate the financial conditions for the borrower. The latter then has only one interlocutor and easily gets the best rate for his private credit.
Good to know: if the interest rate strongly influences the cost of a private credit, whatever the solution chosen, it remains important to pay attention to the other variables of a personal loan (amount of the loan granted, solicited guarantees, insurance for the borrower, etc.).