Compare Fixed Deposits in Switzerland

Live offers

16 live offers compared from 15 providers, from 1% gross. Updated daily.

What is a fixed deposit in Switzerland?

A fixed deposit (Festgeld or Kassenobligation-style term account) locks a sum of money with a bank for a set period — typically months to several years — in return for a guaranteed interest rate higher than an instant-access savings account. You cannot usually withdraw before maturity without penalty. Swiss savers use fixed deposits to earn a predictable return on money they won't need for a defined horizon, with capital security a key attraction.

How the Swiss market works

Cantonal banks (ZKB, BCV and others under the Kantonalbank umbrella), Raiffeisen, Migros Bank, UBS and specialist consumer banks like Cembra offer term deposits and medium-term notes (Kassenobligationen). Rates depend on term length and the Swiss National Bank's policy rate: longer terms and higher policy rates lift returns. Because pricing is set per bank and term, and interest is fixed at outset, comparing offers across banks and durations is worthwhile before committing funds. Longer commitments generally pay more, rewarding savers who can lock money away, while shorter terms preserve flexibility at a lower rate. Some banks issue medium-term notes (Kassenobligationen) as an alternative structure with similar fixed-return characteristics. Because rates track the Swiss National Bank's policy stance, the attractiveness of fixing depends on where rates sit and where they are expected to go. A common tactic is laddering — splitting savings across several deposits maturing at different dates — so a portion becomes available regularly and can be reinvested at prevailing rates rather than everything maturing at once.

Benefits

Guaranteed return — The interest rate is fixed and known when you deposit.

Higher than instant savings — Locking funds usually earns more than an accessible account.

Capital security — Deposits are covered by esisuisse up to CHF 100,000.

Term flexibility — Choose durations to match savings goals.

How to choose

Match the term to when you will need the money, since early withdrawal is penalised or blocked. Compare rates across banks and durations — this market ranges from around 1% to 3.5% depending on term and provider — and check minimum deposit sizes and how interest is paid. Consider laddering several deposits with staggered maturities for partial liquidity, and remember Swiss interest is subject to 35% withholding tax, reclaimable via your tax return.

Leading providers in Switzerland

Cantonal banks and Raiffeisen offer stable, well-secured term deposits with branch backing; Migros Bank, UBS and ZKB provide competitive medium-term notes; and Cembra Money Bank sometimes leads on rate for retail term products. Bank Cler and bunq add further options. The best pick balances the rate against term flexibility and minimum-deposit requirements, since capital protection is broadly equivalent across licensed Swiss banks.

What it costs

Fixed deposits carry no direct fee — you earn interest, typically between about 1% and 3.5% depending on term and provider. The real cost is opportunity: funds are locked, and breaking the term early usually forfeits interest or incurs a penalty. Net return is reduced by the 35% federal withholding tax deducted at source, which Swiss residents reclaim through their tax filing.

Protections and regulation

Banks are supervised by FINMA, and fixed deposits qualify for esisuisse depositor protection up to CHF 100,000 per client per bank. Interest is subject to the 35% federal withholding tax, reclaimable by declaring the deposit. Terms, including the rate and any early-withdrawal conditions, are fixed at the outset and disclosed in the contract, so read the maturity and penalty terms before locking funds.

Common questions

Can I withdraw early? Generally no without penalty — funds are committed until maturity.

Is the return guaranteed? Yes — the rate is fixed when you open the deposit.

Is my money protected? Yes, up to CHF 100,000 per client per bank under esisuisse.

Fixed-Rate Deposits in Switzerland — FAQ