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A reduction in key rates means that the remuneration of savings accounts is also falling. And with future monetary easing expected by the Swiss National Bank (SNB), interest rates for savers should fall even further.
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November 12, 2024 – 08:01
(Keystone-ATS) On average, a standard savings account in francs for adults currently earns 0.5%, compared to 0.8% at the end of 2023, according to data collected on Tuesday by the comparison portal Moneyland.ch. With inflation capping at 0.6% over one year in October, the saver therefore loses money on his investment.
The differences between establishments are however significant with rates of 1.5% offered by the most generous or 0% for the most miserly. High remuneration rates may, however, be linked to special conditions, such as a deposit ceiling, warns the online comparator.
With most economists counting on further cuts in the key rate by the SNB in December and March, savings account rates should also continue to fall. “But since rates are also a marketing instrument to attract new customers, there will always be banks that offer rates significantly above average,” emphasized the Moneyland.ch experts.
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