CHF accounts with best interest rates: discussion

Banks, Insurances & Third Pillar
347

How easy is it to open their Sparkonto Plus?
From the website seems I need to call them or go in person?

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348

I opened the Sparkonto Plus 2023 (promotion ended this March and I wonder what’s the current rate now).
If you donÂŽt go to a WIR branch, you must send an authenticated copy of your ID (by the post office) along the paperwork. They will send you the documents to fill in if you arrange a phone call from their website.

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350

1.35 % is not that bad. On the other hand, I also have a Cler Sparkonto plus whose interest will drop to 0.8% in June.

352

Does rerouting money from my old WIR sparkonto to a new WIR one through a 3rd party account count as “new money” ? :nerd_face:

354

Same situation, please keep us in touch !

355

I don’t have it, but the DK of this Genossenschaft is open to externals.
https://www.gewona.ch/index.php?ds=540
They say it should be 1% higher than the Sparkonto of BKB so around 1.8%?

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359

Some changes. Cembra now at 1.6% and Radicant at 1.25%.

360

Let’s see how long Alpian will remain at the 1.5% for their account. So far all good and monthly interest payment is a nice feature.

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361

And now we are down on Alpian as well:
Tranches of deposits between CHF 0 and 100,000 → 1.0%
CHF 100,001 and 1,000,000 → 1.25%
CHF 1,000,001 and above → Costume made

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362

Bank Cler offers now a savingsaccount within zak with 1.3%.

10’000 can be pulled without notice.

Notice period is 3 months for >10‘000.

If you want a referalcode, pm me.

363

I found @kart0ffel’s overview quite handy so I took the liberty to re-create one with the latest numbers I could gather. Hope it helps!

Feel free to let me know in case you notice some evolution or mistake, so I can update it

Cheers

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364

Trading212 (https://www.trading212.com/interest-on-cash) currently offers 1.5% interest on CHF, paid out daily. It seems, that the money is invested in Qualified Money Market Funds. So not actually a savings account.

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I have never used them and don’t plan on doing so, but just wanted to throw it out there. Maybe somebody already has experience with them.

365

Thanks for the summary! What do yo mean by “NA” by the way? There is none or the information is not available?

Now if someone can chip in on a concern of mine: I am a little wary of placing my money in these accounts because of how strict the withdrawal can be. As we’ve seen in the past month or so, most banks have lowered the interest rates. What happens if I placed a huge sum at Zak or Cembra for example and then they lower their interest rates even further? That would mean I cannot fully move my money into another place before several years? Is this the risk involved?

366

Clearly not years, but larger sums might need a few months notice (as listed above).

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367

Yes it is.

Caisse d’épargne d Aubonne offer 2% but the withdrawal notice period is 12m.

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368

As you said,
one must be aware of the withdrawal restrictions and plan accordingly.
Hence, one should distribute his savings among several “high” interest accounts to mitigate the liquidity risk (or trade interest for a higher degree of freedom).

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369

Ah this solution might be interesting. Divide into several accounts.

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370

If you are searching for full flexibility (no notice period, no withdrawal limit) and decent offering, there are basically three options:

  • Alpian
  • Radicant
  • WillBe

My two cents:

  • Alpian: has problems to aquire clients and give away huge discounts when transferring assets. For “us”, Alpian is only interesting to store cash or to pay stuff in FX, maximum. The investment solution is not a great deal for us guys. When checking the news, I will stay away from Alpian. Started as “private bank” but I don’t see other private banks advertising or giving sing-on gifts.
  • Radicant: have huge problem in finding clients and they generated a huge loss for BLKB. I am not sure, if Randicant will exist more for couple of years.
  • WillBe: backed by LLB and one of the most serious provider. Nothing to say more about WillBe or LLB.

When storing emergency fund, I need full and anytime access. This is why I am absolutely willing to take a drawback, when comparing with Caisse d’épargne d’Aubonne or another provider. A notice period of 3m or more is absolutely not suitable for me or an emergency fund.

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371

What’s the general strategy for the cash management by people on this group?

  1. Move cash around different banks to maximise interest rates. This would require multiple Bank accounts

  2. Find reasonable providers and stick to them.

  3. Use money market funds (I personally cannot find good combination of low custody fees, low TER and good Yield)

Looking at posts on this thread, I am getting an impression that there is tendency to shop around continuously
.

In addition, I find it a bit confusing. If 100,000 CHF is guaranteed by Esuisse guarantee, they why some providers need to provide much higher interests (like Cembra) to keep deposits in their custody. What is the problem with Cembra that they need to offer higher interests ?

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372

I have 3 Levels for my cash:

33% disponible now
33% disponible in max 3 Months
33% disponible in max 6 Months

Rules:
No more than 100k per Bank
Emergencyfund is separate
No limited promotions → to much hassle for me.

I have Willbe and Cembra on top of PF, IBKR an ZAK which I use anyway.

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