Refinancing Loan

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Refinancing loan in Switzerland

Flexible debt restructuring with KRED

If you have taken out a personal loan in Switzerland and are now dissatisfied with the conditions or the interest rate, a refinancing loan may be a sensible option. With a refinancing loan, you can pay off your old personal loan and benefit from lower interest rates and more flexible repayment terms. At KRED, we work with various banks in Switzerland to find the best financing option for our customers.

Reasons for refinancing

Perhaps your financial situation or priorities have changed and you need to adjust your repayment terms. Perhaps the interest rates at your current bank are too high, or you simply want to benefit from the advantages of a refinancing loan, such as lower interest rates and flexible repayment options.

How does the refinancing of a loan work?

If you opt for a refinancing loan, you will replace the old personal loan with the new loan at another bank. You will then only pay off the installments for the new loan and can benefit from the better conditions. Our experienced staff is available to help you find the best refinancing option.

The advantages of refinancing

By refinancing a loan, you can benefit from lower interest rates, which can lead to significant savings in the long term. In addition, you can adjust the repayment terms to your individual needs, for example by using longer terms or lower monthly installments. In this way, you can reduce your financial burden and create more room for other expenses.

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.

Flexible repayment

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.

Simplified finances

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.