Credit calculator Switzerland

Before you start one of our loan calculators: On this page we have some useful information for you on calculating loans, Small loans and interest and Credit counselling compiled for you. You will also find information on how banks calculate interest rates and monthly instalments for your loan. We also show you which criteria the banks use when calculating a loan.

Online loan calculator

In this overview you will find all our free online loan calculators - whether for calculating a loan, calculating your credit line or calculating a loan repayment.

You pay the nominal interest rate - also known as the borrowing rate - for a loan over a certain term. This nominal interest rate corresponds to the amount of money you owe the bank for your loan. The bank speaks of an effective interest rate if the nominal interest rate also includes the bank's processing fees, the term of your loan and the repayment instalments: The longer the loan term, the higher the interest costs, provided you utilise the loan over the entire term. Early repayment of the loan in turn reduces the total interest costs.

Repay your loan early. Here's how to do it!

How high an interest rate is also depends on these conditions:

Supply and demand: As is the case with all goods on the market, the
price depends on the relationship between supply and demand. In the case of loans, the interest rate forms the price for the borrowed money. The more loans are in demand on the market, the more likely interest rates are to rise. If the demand for loans falls, the interest rates on loans also fall.

Creditworthiness and risk assessment: When calculating an interest rate
Your credit rating (= solvency/creditworthiness) also plays a central role. In addition to your income, this also includes your payment behaviour: If you pay bills late or have outstanding debts, you will be rated as
categorised as higher risk. The interest rate is correspondingly higher if
You a Apply for a loan. In Switzerland, it is customary for such
creditworthiness information is collected about you. You can read more about this on the page "Credit rating adjustment Switzerland".

Loan type and loan purpose: The interest rate for earmarked loans is lower than for unrestricted loans: So if you take out a car loan or apply for a loan for a property, the bank has the car or property as collateral. It is therefore better protected in the event of a loan default. If a loan is not earmarked for a specific purpose, this security is missing. This is why the interest rate can be higher with an unrestricted loan. However, this is not the case with all loan providers. It is therefore worth comparing interest rates. You can find out more about the interest rate comparison here.

How is interest calculated at the bank?

A bank's lending rate is closely linked to the risk of loss that the bank assumes when granting a loan. This means that the bank wants to protect itself with the loan interest rate in the event that you as the borrower are no longer able to repay the loan. This is why the bank carefully weighs up the default risk by taking various factors into account when calculating the interest rate:

• Your age: For banks, very young people or people in the
  retirement age, this leads to greater risks. Lending is therefore subject to higher
  hurdles and thus linked to higher interest rates. Find out more in our article: Up to what age can I still get a loan in Switzerland?
• Your incomeThe more you earn, the more creditworthy you are. This means that you benefit from a lower interest rate on a loan.
• Your length of residence in the same place: The longer you live in the same place, the lower the interest rate for a loan.
• Your employment with the same employer: Anyone who constantly changes employers is considered a higher risk in the eyes of credit institutions. This ultimately also influences the interest calculation.
• Your marital status: Are you single, married, divorced or widowed? Your marital status also has an influence on the interest rate.
• Your living situation: Do you own residential property? Then this is additional security for the bank. Your interest conditions are correspondingly better than if you were renting.
• Your residence permit: Even if you have been resident in Switzerland for some time, you will receive Better interest conditions than someone who has only recently moved to Switzerland.
• Your experience with previous loans or leases: Have you always repaid previous loans or leases on time and satisfactorily? Then you have a good chance that the bank will charge you low interest rates.

Conclusion: Basically, it can be said: The more stable your life situation is, the more secure the bank will be. This in turn leads to a lower interest rate. And because interest rates vary greatly from bank to bank, it is definitely worth comparing interest rates.

How do I calculate interest per day?

Interest is calculated by days, weeks or months, for example, for
short terms or residual terms of a loan. To calculate the interest per day
you have to multiply the loan amount with the interest rate and the number of days
multiply. Then divide the result by 100 ⋅ 360. For a loan of 10,000 francs (variable K), an interest rate of 4.7 % (variable p) and a remaining term of 85 days (variable t), the basic formula for the interest due (variable Z) is as follows:
K ⋅ p ⋅ t
Z = ---------
100 ⋅ 360
If you now enter the individual variables in the formula according to the example above, you will get the interest that is still due:

10,000 francs (K) ⋅ 4.7 (p) ⋅ 85 (t) 3,995,000
Interest accrued (Z) = --------------------------
-- = ---------- 100 ⋅ 360 36'000

Accrued interest (Z) = CHF 110.97 for the remaining 85 days

What percentage interest do you pay on a loan?

In Switzerland, you currently pay interest on loans of between 3.5 and 9.95 per cent. How much interest you actually pay for a loan depends on several criteria:

Supply and demand: Are there many people who need a loan
interest rates are rising.
Income, length of stay, residence and employment, age: The better
your income is, the less per cent interest you pay for a
Credit. This also applies to your length of stay, residence and employment: the
The longer you live in the same place or have been employed in Switzerland and with the same employer, the lower the interest rate you will pay. Younger people and people of retirement age are considered greater risks for banks and therefore pay higher interest rates.
Marital status, home ownership and creditworthiness: The percentage of interest you pay also depends on whether you are single, married, divorced or widowed. Home ownership also plays a role: if you own a house or a condominium, you generally pay less interest on a loan. And last but not least: Those who always pay their bills on time and therefore have a good credit rating (= ability to pay/creditworthiness) also pay less per cent interest on a loan. To make sure you get a loan that suits you, it's worth comparing interest rates. Make an interest rate comparison so that you know how much interest you have to pay.

If you need credit counselling, please do not hesitate to call or write to us: +41 44 244 34 00, info(@)credxperts.ch.

Is it worth taking a longer Runtime to choose for a loan?

You determine the term together with the bank before the start of the contract. However, this should be understood as the maximum term. This is because you can repay a loan at any time. In the event of early repayment - also known as amortisation or redemption - the remaining interest costs are waived. It is therefore well worth choosing a longer term. This keeps the monthly loan instalment low and gives you more flexibility when it comes to repayment. This is because you can voluntarily repay more at any time. However, the loan instalments can only be reduced by adjusting the contract. This in turn requires a new
Credit check. How early loan repayment (loan amortisation) is regulated in Switzerland, can be found in the Consumer Credit Act (KKG).

This procedure will help you avoid future payment difficulties and the associated negative code in the Central Credit Information Centre (ZEK).