Interest rates on savings accounts in Switzerland have fallen significantly. The brief high in savings interest rates is over, according to a study by online comparison service Moneyland. +Get the most important news from Switzerland in your inbox On average, savers currently receive an interest rate of 0.18% on their savings account balances, Moneyland said on Tuesday. The conditions of around 150 savings accounts from Swiss banks were included in the analysis. This means that the short, almost three-year phase of slightly higher interest rates is over, it said. The average interest rate on savings accounts last peaked in spring 2024 at 0.82%, after falling to 0.05% in autumn 2022. At that time, one received only CHF0.50 ($0.60) interest per year for a balance of CHF1,000. With rising inflation and the corresponding increase in key interest rates by the Swiss National Bank (SNB), interest rates subsequently rose again. + Swiss bank customers praise security but criticise interest ...
