The Swiss National Bank (SNB) has recently announced a decrease in the key interest rate by 0.25 percentage points. This marks the third reduction this year.

As a result, Appenzeller Kantonalbank will be making adjustments to its interest rates on individual accounts starting from December 1, 2024. Savings account interest rates will be lowered by 0.20%. However, children, young people, and students will still enjoy an interest rate advantage on balances up to CHF 20,000, but the rate will be reduced from 0.90% to 0.70%.

Furthermore, interest rates on savings 3 accounts and vested benefits accounts will be decreased by 0.10%, and private and current accounts will experience a reduction of 0.05%.