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What can we expect interest rates on personal loans to look like in 2018? Are interest rates more likely to get lower or higher?
Good day,
There are 3 main factors which influence interest charged for Swiss personal loans:
1. Interest landscape. A radical change in the current interest landscape in 2018 is unlikely. However, there is no way to accurately predict developments in the international and national interest landscapes.
2. Lenders (marketing and competition). Competition between lenders has increased in recent years, with new online lenders challenging the status quo. It is likely that more lenders will enter the market, driving up competition and helping to drive interest rates down.
3. Legal limitations. The effective annual interest rates of personal loans in Switzerland are limited by law to a maximum of 10% per annum for cash loans and 12% per annum for credit card loans. These limitations may change if the interest landscape changes.
Verdict: The second factor - competition between lenders - will most likely have the biggest impact on interest rates in 2018. Borrowers with good creditworthiness may see lenders offering lower interest rates in the coming year.
You can get an overview of current interest rates anytime using the moneyland.ch personal loan comparison.
Best regards from Moneyguru
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