Refinancing loan in Switzerland
More favorable interest rates
Repayment of a loan may be offered at a lower interest rate than the original loan. This can help lower the overall cost of the loan and simplify the monthly payment schedule.
Refinancing loans offer flexible repayment options tailored to your individual financial needs. For example, you can choose a longer term to reduce monthly payments or a shorter term to pay off the loan faster.
Consolidating your debt through a refinancing loan can help simplify your finances. Instead of having multiple debts with different creditors, you’ll only have one monthly payment and one creditor.
Talk to our experienced loan experts today about smart loan replacement with KRED!
Frequently asked questions
To refinance your personal loan, you must take out a new loan with a different bank and thus pay off the old loan. You then only pay off the installments for the new loan.
Yes, with Swiss providers you can cancel your personal loan early at any time without having to pay future installments. This is free of charge, as stipulated by the Consumer Credit Act. However, new lenders usually require a final statement from the last provider when you redeem, which may come with a cost at some banks.
To redeem a loan, you must be a resident of Switzerland and at least 18 years old, have a minimum monthly income of CHF 2,700 and have no other outstanding debts.