Right of withdrawal
You can withdraw from a consumer credit contract within 14 days, in writing. The 14 days start when you receive your copy of the contract. You are on time if you hand your withdrawal to the lender or to the post office on the last day (KKG, Art. 16). The Act asks for no reason.
If the money was already paid out, you pay back what you received, in equal monthly instalments by the end of the agreed term. You owe no interest and no costs (KKG, Art. 15 and 16). No contract can take this right away (KKG, Art. 37).
What it means for your loan
At Swizeo we send the money only after the withdrawal period. If you withdraw in time, nothing has been paid out, so there is nothing to pay back.
Explained in full
The right to withdraw from a loan in Switzerland
In Switzerland you have 14 days to withdraw from a consumer credit contract, in writing. When the days start, how to withdraw and what you pay back.
Sources
- Bundesgesetz über den Konsumkredit (KKG), SR 221.214.1, as in force on 1 September 2023, Art. 1, 2, 7, 8, 9, 11, 12, 15, 16, 17 and 37Swiss Confederation, Fedlex, read on