Not only mortgages are more expensive
Now interest rates on personal loans are also rising
After the interest rate turnaround by the Swiss National Bank (SNB), not only mortgages are becoming more expensive. Interest rates are also increasing for consumer loans. According to a study by Moneyland.
Published: 12 minutes ago
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The rise in mortgage interest makes buying a house more expensive.
Interest rates on personal loans are rising. According to the Moneyland comparison service, further increases are likely in the future.
According to Wednesday’s study, development did not begin until mid-2022. In the meantime, however, various loan providers have confirmed that the average cost of new personal loans has increased. The reason is the increasing refinancing costs for credit providers. In addition, it could become more difficult to get new loans in the future. Because the interest costs would affect the calculation of creditworthiness, according to Moneyland.
Interest rate varies by credit rating
The unweighted average of all published minimum interest rates for new personal loans is currently 5.17 percent. A year ago, this interest rate was 4.83 percent. The maximum interest rate is currently 8.66 percent after 8.49 percent in the previous year. The interest rate may vary depending on your creditworthiness.
Meanwhile, the maximum permitted interest rates are also likely to rise – these are set by the Federal Department of Justice and Police (FDJP) for consumer credit at least once a year. With the current Saron, an adjustment to 11 percent or 13 percent for credit cards can be expected. If the Saron continues to rise, even higher maximum interest rates are possible. In recent years, negative interest rates of 10 percent and 12 percent have applied to credit cards. (SDA)