A rent deposit is required to move into most apartments. Their amount may amount to up to three net cold rents. Although the law provides for the possibility of paying in installments for a rental deposit for private apartments, many landlords only sign the rental agreement when the full deposit is handed over. In addition to paying out cash to provide a cash deposit, banks and insurance companies offer surety insurance, which is a special form of surety loan.
In many cases, a loan for the rent deposit is not high
If the landlord adheres to the statutory provisions, he himself grants a loan for the rent deposit without Credit Bureau for three months. However, since many homeowners want to receive the entire deposit before signing the lease, borrowing is often required.
The rent deposit must not exceed three months’ rent, so that in many cases it is a three-digit USD amount. In view of the small amount, the overdraft facility of the checking account can often be used as a loan for the rent deposit without Credit Bureau, especially since the account settlement is possible within a few months.
Use of a credit line that has already been granted takes place without a new Credit Bureau request, and the notification to the credit protection only concerns the approval and not the use of a corresponding credit line. In individual cases, a commercial bank can grant existing customers a loan with a small amount without renewed Credit Bureau request.
The limit for the valuation of the internal creditworthiness usually amounts to one thousand USD and is only exceeded by a few rent deposits. With the exception of renting a family home in a good location, the rent deposit to be deposited is regularly less than 3500 USD, so that borrowing without Credit Bureau is possible through a Swiss bank.
Different ways of borrowing for the rental deposit
Young people often take out a loan for the rent deposit without Credit Bureau from their parents or grandparents. This form of lending is possible in many cases for an apartment deposit due to the low amount of credit required and usually does not cost any interest. If the move is due to a transfer, many employers give their employees a loan for the rent deposit without Credit Bureau and at low interest rates.
The respective employer offsets the credit installments against the future salary payments. Recipients of Social Welfare benefits can get a loan for the rent deposit without Credit Bureau through the job center. The precondition for the loan to be provided by the job center for the provision of an apartment deposit is that the case manager has suggested changing the apartment or at least approved it before the rental agreement was concluded. If the job center pre-finances the rental deposit, it offsets the loan granted against future benefits.