Update as of March 2025: the key4 SARON margin is now 0.94%
Not sure if this is because of the demise of Credit Suisse or other factors (someone mentioned Basel III regulations in another post), but it’s not going in the borrower’s favor.
Comparatively, you can get a 5Y fixed at 1.21%, so not sure that SARON is really interesting anymore. With SNB rate at 0.5%, probably going to 0.25% soon, that would mean that SARON is still 0.94+0.25=1.19%, really close to that 5 year fixed rate!