The most comprehensive unbiased interest rate comparison of fixed deposits, medium-term notes and time deposits in Switzerland.
The comparison accounts for different currencies (Swiss francs, euro, U.S. dollar), possible bonuses and total costs. You can easily sort all offers based on returns and your preferred investment term.
Costs like custodial fees or contractual fees may apply to some offers. These are automatically accounted for and are clearly shown in the comparison.
Medium-term notes, fixed deposits and time deposits all deliver interest at a fixed rate across the agreed investment term. Once invested, capital cannot be accessed until the end of the investment term. Savings account provide a more flexible alternative, but have variable interest rates that can change at any time, which makes planning ahead difficult.
Medium-term note comparison
Medium-term notes are fixed deposits from Swiss banks which are issued as notes. Although they are securities, they cannot be traded on stock exchanges and are their values are not subject to rate fluctuations.
Swiss medium-term notes are issued with fixed terms as low as 1 year and (typically) as high as 10 years. The general rule applicable to medium-term notes is: the longer the fixed term, the higher the fixed interest rate.
Medium-term notes are often issued in 1000-Swiss-franc denominations. This means that a minimum investment capital of 1000 francs is normally required, and investment capital must be divisible by 1000. However, there are some banks which issue medium-term notes in 500- or 5000-franc denominations.
Fixed deposit and time deposit comparison
Unlike medium-term notes, fixed deposits and time deposits are bank accounts and not securities. But like medium-term notes, they have fixed interest rates and fixed investment terms. In Switzerland, the term fixed deposits is normally used in reference to fixed deposits with terms shorter than 1 year. However, the comparison also includes fixed deposits with terms longer than 1 year.
Medium-term notes are not segregated assets, and are liquidated along with other bank assets in the event of bank bankruptcy. However, Swiss medium-term notes are covered by the Swiss bank depositor protection guarantee up to a limit of 100,000 francs per customer and bank, just like savings accounts.
New service providers like Savedo offer fixed deposits which are hosted by foreign banks. When these offers appear in comparison results, the name and location of the host bank is clearly shown. Bank deposits in EU member countries are guaranteed against bankruptcy up to a 100,000-euro limit.
Interest earned on medium-term notes are fully subject to withholding tax (Swiss federal withholding tax: 35%). For interest earned on fixed deposits, withholding tax only applies to annual interest in excess of 200 francs. Fixed deposits at foreign host banks are not subject to Swiss withholding tax.
Medium-term notes: selection of banks
Aargauische Kantonalbank (AKB), Acrevis Bank, AEK Bank 1826, Alpha RHEINTAL Bank, Alternative Bank Schweiz, Appenzeller Kantonalbank (APPKB), Baloise Bank SoBa, Banca Popolare di Sondrio, BancaStato, Bank BSU Genossenschaft, Bank Cler, Bank EKI, Bank Linth LLB, Bank Sparhafen Zürich, Bank Thalwil, Cash Zweiplus, Banque CIC, Basellandschaftliche Kantonalbank (BLKB), Basler Kantonalbank (BKB), BBO Bank Brienz Oberhasli, Berner Kantonalbank (BEKB), Caisse d'Epargne de Cossonay (CEDC), Caisse d'Epargne Riviera société coopérative, Clientis Bank Leerau, Clientis Bank Toggenburg, Clientis Biene Bank im Rheintal, Clientis BS Bank Schaffhausen, Clientis Sparcassa 1816, Clientis Sparkasse Sense, Clientis Zürcher Regionalbank, Crédit Agricole next bank, Credit Suisse, Freiburger Kantonalbank, Cembra Money Bank, Genfer Kantonalbank (BCGE), Glarner Kantonalbank, Graubündner Kantonalbank (GKB), GRB Glarner Regionalbank, Hypothekarbank Lenzburg, Jurassische Kantonalbank (BCJ), LGT Bank (Schweiz), Luzerner Kantonalbank (LUKB), Migros Bank, Neue Aargauer Bank, Neuenburger Kantonalbank (BCN), Nidwaldner Kantonalbank (NKB), Obwaldner Kantonalbank (OKB), PostFinance, Raiffeisen, Regiobank Solothurn, Savedo, Schaffhauser Kantonalbank (SHKB), Schwyzer Kantonalbank (SZKB), Spar + Leihkasse Münsingen, Spar + Leihkasse Riggisberg (SLR), Spar- und Leihkasse Frutigen, Sparkasse Schwyz, St. Galler Kantonalbank (SGKB), Thurgauer Kantonalbank (TKB), UBS, Urner Kantonalbank (URKB), VP Bank (Schweiz), Waadtländische Kantonalbank (BCV), Walliser Kantonalbank (BCVS), WIR Bank, Zuger Kantonalbank, Zürcher Kantonalbank.