Early loan repayment

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

I hear that in Switzerland you can repay loans early and save a lot of money. Is this accurate?

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


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