- BenutzernameMoneyland User Questions
- Status Member
- Registriert seit1/27/17
- Beiträge2142
March 27, 2017, 12:34:02 PM
I hear that in Switzerland you can repay loans early and save a lot of money. Is this accurate?
Early loan repayment
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
- BenutzernameMoneyguru von moneyland.ch
- OrtSchweiz
- Status Expert
- Registriert seit8/4/15
- Beiträge4079
March 30, 2017, 3:37:44 PM
Greetings,
Swiss personal loans which fall under consumer credit laws (CHF 500 - CHF 80,000) can be repaid in full at any time and terminated without the lender paying a penalty. You can also make additional repayments at any time to repay your debt ahead of schedule.
Repaying loans as quickly as possible can save you a lot of money because interest is charged based on both the remaining debt and the amount of time over which you carry the debt.
Unfortunately, Swiss lenders do not use a standard formula when calculating your remaining debt because consumer credit laws leave a certain amount of room for individual interpretation.
The moneyland.ch early loan settlement calculator uses the most plausible debt calculation standard.
Best regards from Moneyguru
More on this topic:
Personal loans: Repaying loans ahead of schedule
How to get out of debt fast
Refinancing loans: A basic guide
Request now for free
Cheap bank accounts with card
Request now for free
Online private account
Swiss digital bank
Swiss Bank
Swiss digital bank
Free bank account
Cheap bank accounts with card
UBS key4
50 KeyClub points as a welcome gift
Online private account with debit card
Radicant
High interest on your everyday account
Best exchange rates
Up to 1% of card spending as saveback in the investment portfolio
Bank WIR Bankpaket Top
Free account & card
No exchange fees for foreign payments (interbank exchange rates)
24 ATM withdrawals worldwide per year free of charge
Alpian
CHF 100 welcome bonus
Favorable foreign exchange rates
Multi-currency account with Visa card (CHF, EUR, USD, GBP)
Yuh
No account fees
Banking partner: Swissquote & Postfinance
CHF 20 trading credit with code «YUHMONEYLAND»
Deal of the Day 
Online private account
UBS key4
50 KeyClub points as a welcome gift
