Kassenobligationen / obligations de caisse / medium-term notes

Moneyland comparison and background information:

Some more background:

And here I am going to add a link on the summary of current rates for fixed term deposits of various kinds that I found in old posts:

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That is not that bad actually 1% for 5 years, wondering what is the risk…

What exactly?


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I meant the risk for the cembra bonds

These are not bonds, but a product specifically for retail customers.

Your deposit is protected by the state protection program up to 100k CHF per bank-customer relationship. So if you stay below this threshold, no essential risks.



Yes, as well as no value fluctuation and a state guarantee on deposited amount up to 100k per issuing bank. So it basically gives a AAA security to a bond with a BBB yield.

They are 2 years minimum, shorter once are called Festgeld I think.

Oh yes.

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I am trying to familiarize with these products too (Kassenobligationen, Festgeld) How would you typically purchase them? through a normal broker?

I have seen Postfinance has web pages on them, would be quite convenient to just move funds from there, but it’s quite confusing as they say the products are unavailable at the moment ?

While for Festgeld, apparently you have to phone to arrange?

No. You open an account with the issuing bank directly.

Kassenobligationen were long time neglected, so many banks just stopped posting any rates. Or maybe they are preparing for the next rate hike by SNB.

Yes. Same story, and I think at Postfinance it is 100k minimum.