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Hello,
Can anyone tell me what would happen if I paid off my loan ahead of schedule? What if I paid the full amount I owe in a lump sum? Would I still have to pay anything until the loan term ends?
I have a 50,000 franc loan and want to pay the full loan off within 30 months - long before the loan term ends.
Thanks and greetings to all.
Greetings,
Swiss consumer credit law (Art. 17) gives you the right to pay off your debt early if you so choose. That applies to both personal loans and credit card loans.
However it is possible that additional costs may apply when you amortize your loan ahead of schedule. For example, Cembra Money Bank charges CHF 100 for early terminations. Other lenders, including Cashgate, do not charge a fee.
Best regards from Moneyguru
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