The SNB has recently announced a decrease in the key interest rate by 0.25 percentage points, which is the third reduction this year.

As a result, Appenzeller Kantonalbank will be adjusting its interest rates on various accounts starting from December 1, 2024.

Savings account interest rates will be lowered by 0.20 percent, while children, young people, and students will still receive an interest rate advantage on balances up to CHF 20,000, but it will be reduced to 0.70 percent from the previous 0.90 percent.

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

Customers can find more information on the bank's official website.