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UBS was one of the last major banks to raise interest rates. Interest rates will rise for savings and retirement accounts from May 1, as the big bank announced on Thursday.
Specifically, UBS now pays 0.6 percent interest on a 3a retirement account called Fiscakonto. Deposits in the savings account earn 0.5% interest up to CHF 50,000 and 0.25% thereafter. New customers of the “UBS Key4 Banking” digital solution – most likely from Credit Suisse – receive an interest bonus of 0.5 percent.
1% interest bonus
For new money in the UBS investment plan, the bank also offers a 1.0 percent interest bonus on the current savings account interest rate. Starting April 6, UBS has also launched a savings account for customers who have just transferred money to the bank. Up to CHF 100,000, these funds will pay 1.0 percent interest. This interest rate is valid until the end of June 2024 and the bank continues.
Last week, many banks increased interest rates. This is because, last Thursday, the Swiss National Bank raised interest rates by 0.5 percentage points to 1.5 percent. At the time, UBS announced that it wanted to examine the effects of interest rate adjustment first. (pbe/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.
