Loan for people under 20 years old?

Here you will find the right answers

About Moneyland Forum

The moneyland.ch forum lets you exchange knowledge on numerous topics related to money and get answers to your questions at any time. Join forum users and experts in discussions relating to banking, investment, insurance, retirement, telecom and everyday money topics.

Show categories

Please login in or sign up to participate in the forum.
 
avatar
  • BenutzernameMoneyland User Questions
  • Status Member
  • Registriert seit1/27/17
  • Beiträge2142

Hello you all,

I'm 18 years old (not quite 20 yet) and I asked a couple of Swiss banks over the phone if they would give me a loan, but they all say that they don't lend money to people under 20! Where can I get a loan as an 18 year old in Switzerland? Thanks for your help. You're real pals.

 
avatar
  • BenutzernameMoneyguru von moneyland.ch
  • OrtSchweiz
  • Status Expert
  • Registriert seit8/4/15
  • Beiträge4017

Hi there,

There are many lenders in Switzerland which provide personal loans to borrowers as young as 18 years old. Other banks (like Bank-now) only give loans to people who are 20 years old or older.

Besides age requirements, many other criteria have to be met in order to be approved for loans. The loan comparison on moneyland.ch makes finding relevant loans easy because it only includes loans which you should be eligible for based on your age, salary and other factors.

Unfortunately, debt is becoming quite common among young people in Switzerland. Try to avoid getting loans if possible. Saving up and paying in cash is always cheaper than getting a loan.

Best regards from Moneyguru.

More on this topic:
Interactive personal loan comparison
Personal loans: Common mistakes
Online loans compared
Personal loans: the costs explained