Instant loans

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  • BenutzernameMoneyland User Questions
  • Status Member
  • Registriert seit1/27/17
  • Beiträge2142

Where can I get the fastest instant loans?

 
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  • BenutzernameMoneyguru von moneyland.ch
  • OrtSchweiz
  • Status Expert
  • Registriert seit8/4/15
  • Beiträge4016

That is a good question, and one which man people ask. The fact is that instant loans - like those which are often offered on the Internet - are illegal in Switzerland. More specifically, consumer loans of between 500 and 80,000 Swiss francs or loans with a term of less than 3 months cannot be provided without a waiting period.

Lenders are free to approve loan applications quickly or instantly, meaning they can tell you right away whether or not your loan has been approved. Some people misunderstand the "instant approval" advertisements by lenders to mean "instant loans".

In Switzerland, a lender can only actually pay out the loan after a waiting period. This waiting period is laid down in consumer credit laws and begins at the time that a loan is approved.

Currently, a waiting period of 14 days from the time of loan approval must be observed before the money is paid out to a borrower.

Best regards from Moneyguru.

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