There are numerous ways to save money in Switzerland. How to choose the right investment product and increase your savings? Thanks to our comparisons and explanations, you will make the right decision.
Savings accounts in Switzerland
Savings accounts are designed to put money aside and grow it over a period of time. Since the main goal is saving, they are not suitable for making payments.
Interest rates on savings accounts are typically slightly higher than interest rates on personal accounts. In both cases, interest rates can change over time.
Most savings accounts do not have annual fees. However, the conditions for withdrawals are stricter than for personal accounts.
Private accounts in Switzerland
Personal accounts (or checking accounts) are the bank accounts used for regular payments. They are not intended for savings as interest rates are usually zero or very low at best.
A debit card is linked to the personal account and there is usually an annual fee. You can freely dispose of your money at any time within the limits of the withdrawal limit.
Medium-term notes in Switzerland
In Switzerland, medium-term notes represent capital with a fixed and specified rate of return over an agreed period of time (typically 1 to 10 years). These securities offer a higher return than savings accounts, but are subject to federal stamp duty and withholding tax.
With medium-term notes, your money is firmly invested and cannot be withdrawn until the end of the term.
To discover which providers offer the best returns, you can benefit from our various comparisons. It is best to start by comparing savings accounts.
