{
}
Savings account interest rates in Switzerland are declining, with the average rate for Swiss franc accounts dropping to 0.35% in January from 0.5% at the end of 2024. Notably, Caisse d'Epargne d'Aubonne offers 1% on its 'Compte épargne plus', while Spar- und Leihkasse Frutigen provides 0.9% on its 12-month account. Euro and US dollar accounts yield slightly higher rates, averaging 0.7% and 1.25%, respectively.
The Swiss National Bank (SNB) has lowered its key interest rate by 0.5 percentage points, prompting several banks to anticipate significant cuts in savings rates. While Raiffeisen and Bank Cler have temporarily maintained their rates, others like Zuger Kantonalbank and Yuh are set to reduce theirs starting January 1, 2025. The outlook for savers remains grim, with many banks already tightening rates since October, and only a few institutions, such as the Cantonal Banks of Geneva and Thurgau, still offering higher rates.
Savers are facing further reductions in interest rates as the Swiss National Bank (SNB) has lowered its key interest rate by 0.5 percentage points to 0.5 percent. This decision, made by new President Martin Schlegel, is expected to prompt banks like Yuh and Zuger Kantonalbank to cut their savings interest rates significantly. Experts predict that savers will receive even less on their account assets in the near future.
Savings interest rates in Switzerland have dropped to an average of 0.52%, down from 0.8% at the end of 2023, as banks respond to falling prime rates. With a further cut expected in December, banks are quickly lowering rates, taking advantage of customer inertia. Despite low averages, some accounts still offer competitive rates, highlighting the importance of comparing options.
Interest rates for fixed deposit accounts and cash bonds currently exceed those of standard savings accounts, with average rates at 0.73% for one-year terms and 0.84% for ten-year terms. However, significant discrepancies exist among banks, with one-year rates ranging from 0.25% to 0.9%. Short-term investments of one to two years are particularly appealing alternatives to savings accounts, despite potential account management fees that could affect returns.
Benjamin Manz
People
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
savings account interest rates decline with few banks offering higher returns
Swiss Franc
United States Dollar
Euro
Swissquote Group Holding Ltd
Caisse d'Epargne d'Aubonne SC
Banque WIR SC
Spar- und Leihkasse Frutigen
CHE
Benjamin Manz
Show more
12:55 22.01.2025
Swiss Banks Prepare for Significant Cuts in Savings Rates Following SNB Decision
Swiss Franc
Bank Cler AG
Zuger Kantonalbank
Raiffeisen-Osteuropa-Rent
Credit Suisse High Yield Bond Fund, Inc.
Yuh Shan
CHE
Martin Schlegel
Benjamin Manz
Pius Koller
Show more
16:01 15.12.2024
Swiss National Bank Cuts Key Interest Rate Impacting Savings Interest Rates
19:27 13.12.2024
savings interest rates decline as banks respond to falling prime rates
Swiss Franc
Bank EKI Genossenschaft
Caisse d'Epargne d'Aubonne SC
Crédit Agricole next bank (Suisse) SA
Bank WIR
CHE
Adriel Jost
Benjamin Manz
Show more
18:14 12.11.2024
discrepancies in fixed deposit rates offer higher returns than savings accounts
07:25 17.10.2024
Trending
Subcategory
Corporate News
Stock Market Updates
Industry Trends
Banking Regulations
Global Financial Events
Finance Mergers & Acquisitions
Retail and Consumer Goods
Industry Mergers & Acquisitions
CEO Changes
Central Bank Actions
Global Trade Developments
Market Analysis and Predictions
Financial Scams and Security
Workplace Trends
GDP Growth & Recession Forecasts
Inflation and Monetary Impact
Government Policies
Government Economic Policies
Startups & Entrepreneurship
Supply Chain Management
Countries:
Companies:
The Goldman Sachs Group, Inc.
JPMorgan Chase & Co.
Tesla, Inc.
Barclays PLC
Apple Inc.
Deutsche Bank Money Market PP
Bank of America Corporation
Wells Fargo & Company
Citigroup Inc.
Credit Suisse Lux Digital Healt
Banco Santander, S.A.
Morgan Stanley
BNP Paribas SA
UniCredit S.p.A.
Lloyds Banking Group plc
Huawei Technologies CO. Ltd.
Commerzbank AG
UBS Group AG
Amazon.com, Inc.
HSBC Holdings plc
Currencies:
United States Dollar
Euro
Chinese Yuan
British Pound Sterling
Swiss Franc
Japanese Yen
Indian Rupee
Australian Dollar
Russian Ruble
Canadian Dollar
Danish Krone
Offshore Chinese Yuan
United Arab Emirates Dirham
Indonesian Rupiah
Saudi Riyal
South Korean Won
Turkish Lira
Hong Kong Dollar
Mexican Peso
Malaysian Ringgit
People: