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More flexibility: For a period of 24 months you can withdraw cash quickly and easily from a branch of GE Money Bank – exactly when you need it. |
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More security: Financial independence thanks to a cash reserve that is tailored to your needs. |
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More predictability: The repayments stay the same for the whole term of the loan – based on your monthly budget. |
Cash Credit Plus is an innovative two-phase financing solution: The term of the loan consists of one flexible period and one fixed period:
During the flexible period you can withdraw cash within the agreed credit limit quickly and easily over 24 months. This means that you have constant access to a secure cash reserve.
The fixed period begins at the end of the initial 24 months. From this point on it is no longer possible to withdraw cash from the account. This second period lasts from 12 to 60 months.
The repayment, which is based on your monthly budget, remains unchanged throughout the term of the loan. The only thing that can change – depending on how much you withdraw during the flexible period – is the length of the repayment term.
Sample Calculation:
Credit limit: CHF 20'000.-. Assuming that you withdraw the maximum amount of CHF 20'000.- at the start of the flexible period and then make additional withdrawals up to the credit limit after 12 and 16 months, the costs will be as follows (rounded to CHF 10.-):
| Interest rate | 9.95%* | 14.5%* |
| Initial payout (CHF) | 20'000.00 | 20'000.00 |
| Additional withdrawal after 12 months (CHF) | 7’640.00 | 7’390.00 |
| Additional withdrawal after 16 months (CHF) | 3’110.00 | 3’010.00 |
| Total amount paid out (CHF) | 30'750.00 | 30'420.00 |
| Total costs (CHF - interest and charges*) | 3’884.00 | 5'580.00 |
| Contractually agreed repayment (CHF - calculation base 24 months) |
920.65 | 959.85 |
| Total no. of repayments (actual term of the loan) | 38 | 38 |
*Interest rate bandwidth: We can only calculate the exact interest rate and hence the total costs on the basis of the information supplied in your loan application.
Plan for the Future
Take out repayment insurance** along with your loan agreement. The insurance takes over the repayments if you become unable to work as a result of illness or accident or lose your job through no fault of your own. This means that you remain solvent, whatever happens.
Credit approval cannot be granted if it leads to the consumer becoming over-indebted (as per Art. 3 of the Swiss Federal Law against Unfair Competition).
**A service of GENWORTH FINANCIAL. GENWORTH FINANCIAL is the marketing name of the Zurich branch of Financial Insurance Company Ltd., London.
Copyright GE Money Bank 2010.
