Savings account comparison Switzerland

How do I find the best savings account?

To find the best savings account, it is advisable to use a comprehensive comparison. A good way to do this is to use Checkall's savings account comparison, which takes into account a wide range of savings accounts in Switzerland.

Most savings accounts in Switzerland are free of charge, so the main focus should be on interest rates. Choose an account with the best interest rate, but be aware that some providers offer special interest rates for new money only. Some savings accounts are also only available in conjunction with a private account or a bank package. If you are looking for a savings account for larger amounts (over CHF 100,000), you should consider spreading the money across several banks.

What does the savings account comparison offer?

The Checkall comparison is one of the most comprehensive in Switzerland. It includes over 300 different savings accounts and calculates the interest benefits, taking into account compound interest and different interest rates by year and amount. You can specify the starting amount and annual deposits on the input page. On the results page, the final amount including compound interest is displayed after the desired investment period.

The comparison only takes into account savings accounts that meet your requirements in terms of age, level of education, canton and place of residence.

What is a savings account?

A savings account is used to save money and is not intended for everyday payments. Compared to private accounts, savings accounts generally offer higher interest rates, but have more restrictive conditions for accessing money.

How often do savings interest rates change?

Unlike fixed-term deposits, the interest rates on savings accounts are variable and can be adjusted at any time, depending on the general interest rate trend. Some banks adjust their interest rates more frequently than others. These adjustments are usually made at the beginning of the month.

Despite occasional changes, the savings accounts with the best interest rates often remain at the top of the comparisons over a longer period of time.

How often are the interest rates in the comparison updated?

Checkall checks the interest rates at least once a month, usually at the beginning of the month.

How have interest rates developed historically?

There are tools that allow you to view historical interest rates on savings accounts and compare them with the return on shares. In the long term, shares offer higher returns, but savings accounts have a lower risk, especially in the short term.

Can I open a savings account without a private account?

Yes, at some banks it is possible to open a savings account without a private account. However, some banks require you to open a private account or a banking package.

Savings account with or without bank package?

Bank packages often include savings accounts with special interest rates. The disadvantage: bank packages are usually subject to a fee and you have to take out the entire package.

Costs of a savings account

There are usually no annual fees for savings accounts, but there are exceptions. Some banks charge annual fees, and withdrawals in excess of the specified amount may also be subject to charges. Transfers to third-party accounts and account closure may also incur fees.

What fees are charged when closing an account?

Closing a savings account is free of charge at many banks, but some charge fees of between CHF 10 and CHF 50 for closing the account or transferring it to another bank account.

Comparison of savings account types

The comparison includes various types of savings accounts, including standard, youth, student, retirement and investment savings accounts.

Are there special savings accounts for senior citizens?

Some banks still offer special savings accounts for senior citizens, which are also listed in the Checkall comparison.

Withdrawal conditions

Savings accounts have more restrictive terms than personal accounts, for example limits on monthly or annual withdrawals. Larger amounts often have to be cancelled, and more restrictive withdrawal terms usually lead to better interest rates.

Notice periods

Depending on the savings account, notice periods of three to twelve months may apply if you wish to withdraw larger amounts. If these deadlines are not met, a penalty fee will be charged, often amounting to 2% of the amount withdrawn.

Savings accounts in different currencies

Savings accounts are not only available in Swiss francs, but also in euros and US dollars.

Which banks are compared?

Checkall's savings account comparison covers the most important Swiss banks, including cantonal banks, Raiffeisen, Credit Suisse, UBS, PostFinance and many others.

Can I open a savings account if I live abroad?

For people living abroad, additional fees may apply, especially for private accounts. In some cases, however, you can open a savings account without a private account and without additional fees.

How do I switch my savings account?

Switching a savings account is usually straightforward. However, please note the withdrawal conditions and cancellation periods. As most savings accounts have no fees, you can also open several savings accounts at different banks.