Withdrawing from a loan agreement: deadline and procedure
Understand the written withdrawal right for covered Swiss credit agreements, its starting date, proof of delivery and what happens to money already paid out.
Updated on · Budgetcredit
Covered agreements allow withdrawal in writing within 14 days
Art. 16 of the Consumer Credit Act (KKG) allows the proposal to conclude a contract or the acceptance to be withdrawn in writing within 14 days. The period starts once the contract copy has been received. First establish whether the KKG and relevant withdrawal right apply to your agreement. This period does not automatically apply to every personal loan.
Withdrawal differs from withdrawing a non-binding enquiry or repaying early at a later stage. If you have only discussed general terms, your position may differ from that after signing a contract. Clarify which declaration you have made and which documents have already been sent to you.
Establish the start date from the documents
Note when you received the copy of the agreement concerned. A date on an advertising offer or the first advisory conversation is not automatically decisive. Keep accompanying messages, delivery information and the contract version. These help reconstruct the sequence later.
If several documents exist or receipt is unclear, act early and have the specific deadline checked. Do not wait for an informal response if that loses time. Asking for an explanation is not necessarily already an unambiguous withdrawal notice.
Declare withdrawal clearly and with evidence
Identify yourself and the agreement unmistakably. State explicitly that you withdraw your declaration concerning the specified loan agreement. The date, contract reference and personal details help identify it. Exercising the statutory withdrawal right does not require a detailed justification.
A short starting text could be: “I hereby withdraw my declaration concerning the specified consumer credit agreement. Please confirm receipt of this withdrawal and inform me in writing of the next steps.” Add an unambiguous contract description and your signature. This text does not replace checking whether the right exists in your particular case.
A signed letter with a retained copy and proof of dispatch provides a verifiable route. Do not rely solely on a telephone call or casual chat message. If in doubt, obtain expert clarification on whether a particular electronic transmission meets the statutory form requirements. Asking additionally for confirmation of receipt is useful.
Which delivery preserves the deadline
Under Art. 16, the deadline is met if the withdrawal declaration is handed to the lender or postal service on the final day. Document this handover. Check the correct recipient in the contract; an intermediary is not automatically the right addressee for every legal declaration.
The Act contains special provisions for coordinated loans through a crowdlending intermediary. If your agreement has this structure, do not assume the procedure for a single bank loan applies. The parties and appropriate recipient must be clear from the documents.
What applies if money has already been paid out
Withdrawal does not mean you may keep money already received. For a loan paid out before withdrawal, Art. 16 refers to Art. 15 paras. 2 and 3. Under those provisions, the amount received must be repaid according to the arrangements specified there; interest and costs are not owed. The actual procedure should be clarified in writing.
Do not transfer money without coordination to unknown account details in a message. Have the recipient, reference and payment schedule confirmed through the lender’s verified contact. For financed goods, services or leasing, the Act refers to different provisions; separate assessment is required.
If the withdrawal period has expired
After expiry, other rights may matter, particularly early repayment. This fulfils an existing agreement sooner and is not the same process as timely withdrawal. Obtain a settlement statement and check the reduction of future interest and costs.
If you suspect a legal defect, have the agreement assessed professionally. Do not stop payments solely on the basis of general online information. A contractual dispute and the due dates of ongoing payments require specific assessment. Keep all correspondence.
Before new financing, record the original reason for withdrawing: excessive costs, an unsuitable amount or unclear terms. A loan comparison and complete budget can prevent the same uncertainty recurring with the next offer.
Frequently asked questions
Must I give reasons for withdrawing?
A detailed justification is not required to exercise the statutory right under Art. 16 KKG. The declaration and agreement concerned must be clear.
Is a phone call sufficient?
The Act requires written form. Do not rely solely on a telephone message.
May I keep money already paid out after withdrawal?
No. The loan amount received must be repaid under the applicable statutory arrangements.
Sources and information date
Information as of 13 October 2026. The applicable rules, individual assessment and contract documents are decisive.
Credit must not be granted if it would lead to over-indebtedness. A budget calculation provides a non-binding indication, not a loan offer.
