Looking for savings account options with interest rates higher than 0.8%

[uberweston]

I'm currently using PostFinance for my savings, which offers a 0.8% interest rate. I'm exploring other options that might offer higher interest rates. I've heard about Bank Cler, but it seems the higher rates are only beneficial in the first year only. I'm specifically looking to open a new account for my emergency fund only, which is now on PostFinance. Any recommendations for savings accounts with interest rates exceeding 0.8% would be greatly appreciated, what are you guys using? Thanks for your help! Take care.

EDIT : thanks to every comment, I choose the wiLLBe option with a 1.55% interest rate!

 

[monna]

@uberweston

• 1.5% with Radikant (Basler Kantonal Bank's neobank) up to 250k, it's a current account.
• 1-1.5% with Alpian: (1% on CHF deposits up to CHF 50,000. Deposits between CHF 50,001 and CHF 1,000,000 earn a 1.5% interest rate). It's also a current account

 

[uberweston]

@monna Even up to 250k for the 1.5% interest rate ! Nice option with wiLLBe

 

[felicitypenny]

@uberweston You shouldn't store more than 100K with any given bank.

It's just unnecesary risk that you may not get your money back - although that's probably impossible, especially if a cantonal bank backs it up.

 

[toothfairy65]

@uberweston Neon offers .9%, Yuh 1% s commented above.

 

[uberweston]

For the moment, the best options are :
- wiLLBe
- Radicant
Thanks to all of you !

 

[qbanmom7070]

@uberweston Yuh has 1%, and they have no limit, and it doesn't even need to be in a saving account. It's 1% across all your accounts. What's weird is that Yuh is made by... PostFinance (and Swissquote).

Cler is currently advertising 1.8% but it's a scam (it's only for the first year, then it's 0.8%, and if you try to take your money out you have to pay them back).

 

[tinyhomebiglife]

@qbanmom7070 The offer from CLER is not a scam, they offer what they write on the first page when reading it.. you can take it out after one year and put it somewhere else if the 0.8 % after is not good enough, without any cost. Just make sure you read the details in any investment before putting money there

 

[qbanmom7070]

@tinyhomebiglife

you can take it out after one year and put it somewhere else if the 0.8 % after is not good enough, without any cost

No you can't, which is precisely why I called it a scam. You will have to wait 6 extra months before you can cash out. Isn't it ironic that you didn't "read the details" and missed this?

So they advertise 1.8%, but in reality there is no way you can really get 1.8% and then immediately cash out. The best you can have is 1.8% for 1 year, and then 0.8% for 6 months, which brings down the APY to 1.46%.

So people might choose Cler over wiLLBe for instance, thinking "oh 1.8% is more than 1.55%".

To me that's false advertising if you have to go to their website, find the PDF download of their conditions and read the fine prints at the very bottom until you realize that actually it's not worth it compared to the competition.

 

[tinyhomebiglife]

@qbanmom7070 It says you can take out everything up to 20k per year without that penalty, for more money you are right. Still it is written there. Sure, they could make it more obvious, but that is still not a scam to me. As I said you should always read and understand what you want to invest in (I am not planning on doing this so I did not take much time to read it all in detail), i find pilar 3a insurances to be much worse usually and still I would not call it a scam

 

[uberweston]

@qbanmom7070 I forgot Yuh, thanks for the feed-back ! Cler is definitely not a good option... Maybe I'll try Yuh even if I don't like smartphone interfaces. I'm an IT guy aha!

 

[qbanmom7070]

@uberweston I'm also an IT guy, also hate smartphone apps, but I'm happy that I switched a few weeks ago. I would warn though that Yuh makes it very convenient to invest through their app, but their fees for investing is terrible. So Yuh is good if you want to just have cash sitting around, but if you want to invest the money in ETFs for instance, definitely don't use Yuh for this.

 

[uberweston]

@qbanmom7070 Thanks for the advice, I really appreciate. I'm happy with IBKR for investments! The fees are so low

 

[fisher79]

@uberweston Willbe offers 1.55% up to 50k i think

 

[uberweston]

@fisher79 Wow, what an historic bank and Aa2 deposit rating !

 

[uberweston]

@fisher79 That's definitely the best option in the comments ! Have you try this already ? Is it protected up to 100'000 CHF ?

 

[fisher79]

@uberweston Not yet but if I would want a savings account I would do it with them. Willbe is from llb, the fund there are protected by the government, same as swiss cantonal banks

 

[jimbigheart]

@uberweston 1.10% for Raiffeisen members. In Zurich.

 

[katie_hannah]

@uberweston WIR Bank 1.8% with Sparkonto Plus until 28.02.2025

 

[uberweston]

@katie_hannah And after that ?