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Big bank Credit Suisse is doing the same, raising interest rates on savings accounts. From May 1, loan balances up to the CHF 50,000 limit on CS savings accounts will incur 0.75 percent interest.
Customers will receive 0.25% interest up to CHF 500,000 loan balance from next month, AWP news agency announced on Tuesday. On the other hand, you can’t get anything out of 500,000.
In addition, the interest on vested interests and 3a accounts will be increased to 0.2 percent and 0.6 percent, respectively. The bank said that market developments are still being observed and short-term adjustments in interest rates are also possible.
Less than four weeks ago, the Swiss National Bank (SNB) raised the basic interest rate by 0.50 percentage points to 1.50 percent. It was the fourth consecutive rate hike after the central bank heralded a return in interest rates last summer.
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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