UBS Increases Interest Rates on Savings Accounts Following Swiss National Bank Decision
Published: Wednesday, Jun 28th 2023, 10:34
Updated At: Friday, Oct 13th 2023, 14:12
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Following the Swiss National Bank's (SNB) interest rate increase last week, UBS customers will also see an increase in interest rates. Starting from the beginning of July, customers with savings accounts up to 50,000 Swiss Francs will receive an interest rate of 0.75% (previously 0.50%) and 0.30% (previously 0.25%) for amounts over 50,000 Swiss Francs. Additionally, customers transferring new funds to UBS will receive an interest rate of 1.5% up to a sum of 250,000 Swiss Francs, compared to the previous rate of 1% up to 100,000 Swiss Francs. The interest rate for UBS's 3a Fiscakonto will increase to 0.80% (previously 0.60%) and the Freizügigkeitskonto will increase to 0.30% (previously 0.20%). UBS follows the announcements of numerous banks last week, including the Zurich Cantonal Bank and other cantonal banks, Valiant, and various regional banks, who all announced higher savings rates starting from the beginning of July or August. Raiffeisen will also increase its account rates from the beginning of August.
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