CHF short term deposits

Investing / Portfolios
96

„Seit 2010 sind die Zinserträge bis CHF 200 bei allen Kundenguthaben von der Verrechnungssteuer befreit. Von dieser Freigrenze können nur diejenigen Kundenguthaben profitieren, welche einmal pro Kalenderjahr abgeschlossen werden und deren Zins nur einmal vergütet wird. Das bisherige «Sparheftprivileg» wurde aufgehoben.“

Berne cantonal tax administration

The Federal Department of Finance here also confirms that the 200 CHF may be applicable to current accounts as well, provided that there balanced and interest is credited only on a yearly basis. In practice though, most current account aren‘t - and won‘t pay interest anyway.

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97

But IBKR doesnt take it directly… any guess why?

98

Because it is not a Swiss bank?

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99

Yuh did credit me (less than CHF 200 of) interest for 2023 without withholding tax. not that it really matter anyway, considering how easy it is to get that back filing a Swiss tax return.

Of course.

Withholding tax on interest payment is charged based on the country where the bank/payer is located and its laws (which may have different tax rates for residents and non-residents, even differentiating by country of residence - or have no withholding tax at all).

But Swiss Verrechnungssteuer of 35% is only charged by Swiss banks - not by foreign banks.

100

Mini-update to this, I ended up with 2 tranches of these from August and from October 2023, for 1.95% p.a.
I see their current offer is now significantly lower.

Beginn Laufzeit: 2. Mai 2024
Laufzeit: 12 Monate
Verzinsung CHF: durchschnittlich 1,175% (quartalsweise, Monate 1-3: 1,40%, Monate 4-6: 1,20%, Monate 7-9: 1,10%, Monate 10-12: 1,00%)
Verzinsung EUR: durchschnittlich 3,40% (quartalsweise, Monate 1-3: 3,80%, Monate 4-6: 3,50%, Monate 7-9: 3,30%, Monate 10-12: 3,00%)

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101

The interest rate is published daily so you have to inquire via telephone / e-banking. From what I understand you get payed the fixed rate on the day you start the Festgeld for the whole period you commit the money.

102

2 posts were merged into an existing topic: EUR accounts with best interest rates: discussion

103

I called different banks last week to get the interest rates.

  • ZKB: Between 0.27% and 0.32% for 3 months (trend: decreasing).
  • BCV: 0.15% for 6 months.
  • CIC: 0.45% for 3 months (Festgeld Flex promotion)
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104

As expected, interest rates are decreasing.

  • ZKB: 0.02% for 3 months, 0.08% for 8 - 12 months.
  • CIC: 0.05% for 3 months.
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105

If you earn 50 chf per hour, then an hour spent on getting a 0.05% better interest rate would need 100k of deposit for a whole year to breakeven on the effort.

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106

with those rates, might as well keep in regular (non savings) account. At least it’s fully liquid.

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