Personal loan comparisons in 2016
- Author: Iohan Colarusso
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Since the beginning of 2016, a new stakeholder has appeared on the personal loan market and several financial institutions have modified their rates, repayment periods and/or minimum loan amounts.
These changes occur in the aftermath of the entry into effect of the federal law which will limit rates to a maximum of 10% for personal loans and 12% for credit cards starting on the 1st of July 2016, with a certain number of banks already beginning to apply these changes.
Here are the major changes observed at the following credit institutions:
Bob money
Bob money, part of the Basel retail trade group Valora, known for its kiosks, entered the consumer credit market in 2016.
Cashgate
Cashgate has made 2 key changes to its offers:
- Cashgate displays a fixed rate of 7.9%, whereas before it varied from 7.9 to 11.9%
- The minimum loan amount has passed from 1,000.00 to 10,000.00 CHF
Bank-now
Bank-now has changed its minimum rate and repayment period:
- The minimum rate was 9.90 and has now dropped to 7.9%, however remains variable with a maximum of 13.9%
- The maximum repayment period has changed from 72 to 84 months
Cembra money bank
The repayment period for loans taken out with Cembra money bank was 72 months and has now been reduced to 60 months.
BCGE (Banque Cantonale de Genève)
The fixed rate of the Banque Cantonale de Genève has risen from 6.9% to 7.9%.
Eny Finance
Eny Finance previously applied a fixed rate of 8.9%. Its rate has lowered and has become variable, ranging from 6.9% to 8.9%.
CC Crédits Conseils SA, the No. 1 brokerage firm in Switzerland
Thanks to our independence and our excellent knowledge of the internal criteria (scoring) applied by each credit institution, we will direct you towards the bank that best suits your profile, thus increasing your chances of obtaining a positive response to your loan application. CC Crédits Conseils SA boasts an above norm application acceptance rate compared to those of its competitors.
Moreover, thanks to the large volume of cases that makes us the No. 1 brokerage firm in Switzerland, and thanks to our privileged contacts with the main consumer credit stakeholders, we are in the most qualified position to negotiate the lowest available rates on the market !
Please contact us for free customised advice on +41 (0)848.10.2000 or to directly file a no-strings loan application.
- Categories: Banking institutions