Moreover,
Switzerland: interest rates free fall:
Personal finances –
Interest rates of free fall savings accounts – Switzerland: interest rates free fall
After a brief embellishment, interest rates fell 0.18% on average in Switzerland. In addition, But banks keep attractive offers up to 1%.
The inertia of customers allows banks to impose low rates.
Getty Images
- The remuneration of Swiss savings accounts drops to 0.18% on average.
- Some banks maintain attractive rates up to 1%.
- The inertia of customers allows banks to impose low rates.
- Historically, savings rates regularly exceeded 2% before 1997.
The end of the embellishment for Swiss savers is confirmed. For example, The average remuneration of savings switzerland: interest rates free fall accounts in Switzerland is now only 0.18%, illustrating a gradual return to the almost zero rate which prevailed before 2022, according to data from the comparison of moneyland.ch.
This fall comes after a brief parenthesis of more attractive rate. Nevertheless, directly linked to monetary policy decisions of the Swiss National Bank (BNS). Moreover, The key rate of the BNS had indeed led to a temporary increase in savings yields, with a 0.82% peak observed in the spring of 2024.
Moneyland.ch’s analysis highlights significant disparities in the Swiss banking market. While the general average collapses. some establishments continue to offer significantly higher yields, up to 1% for the best offers – more than double the market average.
The right interest rate
“Many banks know that the Swiss are lazy switzerland: interest rates free fall and rarely change supplier. This is what allows certain banks to offer such low interest rates, ”explains Ralf Beyeler, expert at Moneyland.ch. He stresses that customers can easily improve their performance without necessarily changing their establishment. some banks offering more advantageous specific accounts.
This period of small yields for savings represents an anomaly in Swiss economic history. BNS historical data reveal that before 1997. savers had benefited for more than a century and a half of rates systematically greater than 2%. The historic standard was even between 3% and 4%, with 5% points in the 1970s and in the early 90s.
“To maximize their interests in this unfavorable context, recommends Moneyland.ch. savers are invited to carefully compare offers, while remaining vigilant on the conditions associated with the most advantageous rates, which often involve restrictions on access to funds.”
“Latest news”
Do you want to stay at the top of the info? “24 hours” offers you two meetings a day. not to miss anything of what is happening in your canton, in Switzerland or in the world.
Other newsletters
Did you find an error? Please report it to us.
Further reading: An invincible armada on the Swiss – RTS.CH route – “It’s crazy!” Will Smith has things to say about Switzerland – Decrease in the number of vacancies in the 2nd quarter – Public holidays: France wants to remove two, and Switzerland? – A Swiss study reveals the secrets of the destructive power of torrential lavas – RTS.CH.