If you want to bridge a financial bottleneck in the short or long term, you can take out a personal loan. A loan comes in various forms, as lenders have tailored their offers to a wide variety of uses and life situations.

The student loan, for example, reveals its target group in its very name, while a debt rescheduling is attractive to anyone who is not satisfied with their current credit conditions. Meanwhile, those who need money very urgently can take out a so-called lightning loan or express loan. Real estate owners, on the other hand, can take out a mortgage loan by making a corresponding entry in the land register.

Loan costs - what you should watch out for

Various factors play a role in the cost of a loan. If you want to assess whether an offer is attractive or not, you should consider the following aspects:

• APR: It is the most important benchmark and should not be confused with the nominal or debit interest rate. The APR can be used to calculate the total amount that ultimately has to be repaid.
• Processing fee: A fee may already be charged for processing your application.
• Flexible interest rates: Particularly with long-term loans, the interest rates are not always fixed for the entire term. Depending on the interest rate trend, this can be advantageous or disadvantageous.
• Other fees: Even if you deviate from your loan plan, this may incur fees, such as an early repayment penalty for early repayment.

Online credit is often available at particularly favorable terms. Here, customers benefit from the costs that direct banks save by foregoing branches and personal advice.

Lenders: These are your options

The usual point of contact for a personal loan is the bank - not for nothing is it also known as a credit institution. From small loans to larger loans, it lends money in various forms. But the bank is not always the right contact. This may be because the conditions seem unattractive or because it refuses to grant a loan due to a lack of collateral. For example, it does not usually grant a loan without proof of income. Two alternatives are the employer loan and the loan from private sources.

In the case of employer credit, the company steps in as a lender. Of course, not every company is willing or able to do this, but in some industries - such as banking or insurance

• This approach is quite common. It is important here that all modalities are contractually stipulated so that the loan cannot be interpreted as a non-cash benefit. If you are considering an employer loan, you should ask yourself whether you will continue to be employed by your company for the duration of the loan - otherwise the sum could fall due prematurely.

In the case of a private loan, the lender either comes from the borrower's environment or the provider and the interested party are put in touch with each other. For this purpose, there are now corresponding Internet platforms that offer the service for a commission. In this way, for example, a loan can also be arranged for the unemployed or people with a negative Schufa entry, if they convince their lender in person or with their intended use.

Credit without Schufa: The Swiss credit

A special case is the so-called Swiss loan. Named after its origin, it was initially characterized by the fact that it was granted over 3,500 dollar and 40 months term at an interest rate usually in double digits. Meanwhile, the term Swiss loan is often used for all loans granted without SCHUFA query. Another synonym for it is "Bon Kredit" after one of the best known providers.

For people with negative SCHUFA record, Swiss credit is one of the few ways to borrow money temporarily. However, unless the Schufa query is omitted due to appropriate collateral - as in the case of policy loans, for example - the Swiss loan is usually accompanied by very high interest rates or fees. This offsets the risk of the lender. For this reason, it is a good idea to repay such a loan quickly. An advantage of the Swiss loan can be that it is often also granted as a cash loan and thus grants anonymity.

Credit for the unemployed

Since with the salary the otherwise usual security is missing, the places grant credit for the unemployed. Even recipients of a relatively high unemployment benefit I have problems getting a loan, because the benefit period is limited and then the change to unemployment benefit II threatens.

Some providers advertise to give a loan without proof of income or specifically a loan for the unemployed. However, they then usually charge very high fees or demand other forms of collateral.

However, there are alternatives to a genuine loan for the unemployed: If you have valuables, you can not only sell them, but also borrow them at a pawnshop - with the risk that they will be retained if repayment is not made. In addition, a loan for the unemployed is possible if another person vouches for them. Finally, with luck, the unemployed can find a private lender who will grant them a loan. However, those affected should think very carefully about whether they want to take on the additional burden in their situation.