With this trick you can get the cheapest loan

The end of the year is approaching: time to look back and take stock. Also from a financial point of view: What is still in your wallet? How much are you in the red with the credit card company, where else are credit debts? If you get an overview of your current loans and look into the interest rates of other providers, you will notice: The differences are sometimes massive, with the replacement of expensive loans with cheaper offers such as at LEND can save a lot of money. The same applies if you bundle several loans with a cheaper provider.

The Swiss crowdlending company LEND is currently even promising: Either the interest you are currently paying will be undercut – or you will receive 100 francs in hand. Instead of googling through dozens of interest rate offers, it is enough to request a refinancing directly on lend.ch.

LEND’s promise is bold, but the company relies on the certainty of being able to assert itself against banks and the many other online providers. An example: LEND was able to undercut 80 percent of all qualified refinancing applications with a lower interest rate. On average, this enabled borrowers to save more than CHF 800, depending on the loan amount and term even significantly more. Overall, crowdlending is seen as a safe, fast and uncomplicated alternative to traditional personal loans.

And the loan repayment is very easy: here Submit a loan application, upload the necessary documents and attach the old loan agreement including the proof of payment provided. After the LEND check, the team will get back to you with a lower interest rate offer. The rescheduling is now only a matter of form: the old loan is paid off and a new one is taken out. Thanks to the regulations in the Consumer Credit Act, early repayment of the old loan is possible at any time – and free of charge. Only a few providers charge a small processing fee.

It is simply important that you have a good credit rating, i.e. that you have always paid your previous loan installments on time. Because a good creditworthiness is decisive for the framework conditions of the new contract, among other things, it has an impact on the amount of the interest. A total of three conditions must be met: You have an ongoing consumer loan with a Swiss bank, the last 12 loan installments are always paid on time and your life situation has not changed since you took out the loan.

Good to know: Even if you don’t have a loan, you can benefit from low interest rates from 3.5 percent at LEND. An overview of the most important types of credit can be found here. With just a few clicks, you can submit a loan application for the desired amount – regardless of whether you are planning a new car, training, remodeling the kitchen or simply an extensive round of Christmas shopping.