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For example, postfinance will increase interest rates on savings and retirement accounts from May 1. Specifically, savings accounts currently have from 0.7 percent to 50,000 francs. It went from 0.4 percent to 25,000 francs before.
This means that the interest limit for savings accounts will also be increased, as the Swiss Post financial institution announced shortly after the SNB decision. They are also examining further increases should the key interest rate rise again.
Zuger Kantonalbank also reacts instantly and increases interest on savings and retirement accounts from May 2023. Customers will now receive 0.90 percent interest up to CHF 100,000 on the “plus” savings account and the “Sparen 3” retirement account. Previously, it was 0.65 percent and 0.6 percent, respectively.
Bank WIR is even launching a new savings product (“Savings Account Plus”). This offers an interest rate of 1.8 percent, according to a statement. Basler Genossenschaftsbank also gradually increases the interest rate on all other savings and pension products by at least 0.3 percent in total, starting from April.
Interest rates are also rising at the Graubündner Kantonalbank (GKB). According to the announcement made on Thursday, from April 2023, interest rates for long-term savings will now go up to 1 percent, depending on the level of the GKB savings pyramid. (SDA)
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
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