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I noticed the Baloise Bank is not included. At first glance that bank seems to offer good conditions for its savings accounts. How do Baloise savings accounts hold up to closer scrutiny?
The Baloise Bank SoBa offers three separate savings accounts: Comfort; Profit; Bonus.
All three savings accounts do not have annual fees (this is generally the rule in Switzerland).
Basic feautures (as per February 2017):
Comfort savings account: 0.01% interest, CHF 15,000 monthly withdrawal limit (3 month notice required for larger amounts).
Profit savings account: 0.5% interest on the first CHF 100,000, 0.1% interest for amounts in excess of CHF 100,000. 0.01% interest for assets in excess of CHF 500,000. 12 months notice ahead of withdrawal.
Bonus savings account: 0.5% interest for new deposits during the first year. After the first year, interest on assets matches the Comfort model.
Verdict:
Comfort delivers below-average interest. Profit delivers slightly below-average interest on amounts less than CHF 100,000 and slightly above-average interest on the portion of savings between CHF 100,000 and CHF 500,000. Bonus delivers an above-average interest rate, but only during the first year after deposits are made.
Best regards from Moneyguru
More information:
Savings account comparison
