Top interest rates with Credit Suisse - yet only for a short time
03 May 2012 - Money
Generally, savings interests are facing lean times. Credit Suisse is a pleasant exception in this matter. Like last year, the bank provides an attractive offer called «PremiumInterest Savings Account»: If you newly open a savings account between April 1 and Juni 30 and deposit a minimum of CHF 500, you will earn an interest rate of 1.75% until the end of the year. After December 31, 2012, Credits Suisses's regular interest rates will reapply. The interest benefit is only applicable to those amounts that were paid onto the account during the promotion period, meaning the end of June. Deposits made after June 30 are subject to the regular rates. Existing customers only profit from the high interest rates with the «PremiumInterest Savings account» when they deposit new money. Transferring money from an existing CS account does not lead to a better interest rate.
Compared to other banks, the «PremiumInterest» is very high. Most of the other banks provide saving interest rates that are significantly below 1 per cent. Only Bank Coop pays a relatively high interest of 1.325 per cent with the «Sparkonto Plus». However, the latter only applies during the first year, then it drops below 1 per cent. The favourable interests with both CS as well as Bank Coop are thus only temporary.