"I took out a loan three years ago - should I pay it off now?"
Honestly? In most cases: Yes!
Many Swiss households pay significantly more per monththan they should - simply because they are letting an old loan with high interest rates continue to run. A loan cancellation (also known as debt rescheduling) can help you with this, Save interest, shorten the running time or reduce the monthly instalment.
What does loan amortisation actually mean?
When you redeem a loan, you replace an existing loan with a new one. new, more favourable loan off. The old debt is repaid in full - from now on you only pay back the new loan with the better interest rate.
That works online, fast & without great effort - especially with our support for credxperts.ch.
Example calculation: Loan repayment from 10.9 % to 7.9 % - your savings in detail
| Credit parameters | Old credit (10.9 %) | New loan (7.9 %) |
|---|---|---|
| Loan amount | 20,000 CHF | 20,000 CHF |
| Runtime | 48 months | 48 months |
| Monthly instalment | approx. 515 CHF | approx. 488 CHF |
| Total costs (incl. interest) | approx. 24,720 CHF | approx. 23,424 CHF |
| Savings over 4 years | 1,296 CHF |
"I was surprised - the debt rescheduling saved me almost CHF 1,300, without any effort at all."
This saving results solely from the Interest rate difference of 3 percentage points. And the higher the old interest rate or the larger the loan amount, the your savings potential becomes greater.
Advantages of a loan repayment with credxperts.ch
- Secure lower interest rates
- Flexibly adjust the term
- More liquidity per month
- Digital, simple process
- No hidden costs
"But is a replacement really worth it for me?" - Typical scenarios
Scenario 1: "My loan is already half paid off..."
Even then, a redemption can make sense. The interest savings on the remaining debt can amount to several hundred francs - with simultaneous better contractual conditions.
Scenario 2: "I have several small loans running at the same time."
Perfect case! By Loan bundling you pay only one instalmenthave a better overview - and in 80 % of cases more favourable conditions.
Scenario 3: "I'm not sure I can do this on my own."
That's exactly what we're here for: credxperts.ch accompanies you from the examination to the successful replacement.
Decision-making aid: When is a replacement particularly worthwhile?
| Situation | Does replacement make sense? | Reason |
|---|---|---|
| Loan older than 12 months | Yes | Mostly worse old interest rates |
| Several loans in parallel | Yes | Overview & reduce costs |
| Salary improved | Yes | Better creditworthiness = better offers |
| Falling interest rates on the market | Yes | Secure interest rate advantage |
| Interest rates increased | Perhaps | Testing by us makes sense |
Requirements for a loan repayment
- Proof of current income
- Residence in Switzerland
- Copy of the contract of the old loan
- No outstanding debt collection and a good payment history with the existing loan
ATTENTIONIf you have a negative ZEK entry for the existing loan, it is not possible to redeem the loan.
If you want to know what information is available in the ZEK, order an extract from the ZEK here: https://www.zek.ch/de-ch/kredit-leasingnehmer/eintrage-zu-meiner-person
Internal links
- Credit comparison Switzerland
- Loan for homeowners
- Credit despite debt enforcement
- Start credit counselling
FAQ: Everything you need to know about loan repayment
Can I redeem my loan at any time?
Yes, a loan can be repaid at any time.
What will the replacement cost me?
As a rule: nothing. This is also regulated in the KKG.
Can I increase the new loan amount?
Yes, if you have sufficient creditworthiness, the redemption can be Extension combined (e.g. for renovations).
How quickly can the loan be repaid?
In many cases within 1-2 working days. Payment is then made after the statutory waiting period of 14 days. Loan amounts over CHF 80,000 can also be paid out immediately.
Our conclusion: Have it checked now and benefit!
"I would never have thought that I could save over CHF 1,000 with a simple debt rescheduling - thanks credxperts!" - Karin from Basel
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Personal advice on loan repayment