ZKB SARON Mortgage CH ZKB Mortgage CH
1.55% initial
- Interest Rate: 1.55% SARON (reference rate)
- Loan to Value: 80% LTV
- Initial Period: Variable (SARON-linked)
- Key Feature: ZKB — cantonal bank; state guarantee; competitive SARON
Compare Mortgages in Switzerland
Compare the total cost over the initial fixed period including all fees, not just the headline rate — a lower rate with high arrangement fees often costs more over two years.
Compare the top 20 Swiss mortgages providers, with rates from 1.55% initial. Data current as of 23 October 2026 and updated daily from the Giraffy database.
Live offers
20 live offers compared from 20 providers, from 1.55% initial. Updated daily.
Raiffeisen SARON Mortgage CH Raiffeisen Mortgage CH
1.60% initial
- Interest Rate: 1.60% SARON (reference rate)
- Loan to Value: 80% LTV
- Initial Period: Variable (SARON-linked)
- Key Feature: Raiffeisen — cooperative; lowest SARON often; member advantage
Swiss Life Hypothek CH Swiss Life CH
1.60% initial
- Interest Rate: 1.60% (Saron + 0.75% variable)
- Loan to Value: 66% LTV
- Initial Period: Variable (Saron-linked)
- Key Feature: Swiss Life — pension-linked mortgage; Saron-M floating; life insurance combo
PostFinance Hypothek CH PostFinance CH
1.65% initial
- Interest Rate: 1.65% (5-yr fixed — competitive)
- Loan to Value: 66% LTV
- Initial Period: 5-yr fixed
- Key Feature: PostFinance — postal bank; often best rate; no-frills online mortgage; Swiss Post
Raiffeisen Switzerland Hypothek CH Raiffeisen CH
1.68% initial
- Interest Rate: 1.68% (5-yr fixed)
- Loan to Value: 66% LTV
- Initial Period: 5-yr fixed
- Key Feature: Raiffeisen — cooperative; 3m+ members; eco-mortgage (eco-solar 0.1% discount)
Migros Bank Hypothek CH Migros Bank CH
1.70% initial
- Interest Rate: 1.70% (5-yr fixed)
- Loan to Value: 66% LTV
- Initial Period: 5-yr fixed
- Key Feature: Migros Bank — retailer bank; member loyalty discount; Migros-Pensionskasse link
ZKB Hypothek CH ZKB CH
1.72% initial
- Interest Rate: 1.72% (5-yr fixed)
- Loan to Value: 66% LTV
- Initial Period: 5-yr fixed
- Key Feature: Zürcher Kantonalbank — Zurich state guarantee; ZKB Plus rate for pensioners
Hypothekarbank Lenzburg Mortgage CH Hypothekarbank Lenzburg Mortgage CH
1.72% initial
- Interest Rate: 1.72% (5-yr fixed — often lowest)
- Loan to Value: 80% LTV
- Initial Period: 5-yr fixed
- Key Feature: Hypi — often lowest fixed rate CH; Aargau specialist; online
UBS Festhypothek CH UBS CH
1.75% initial
- Interest Rate: 1.75% (5-yr fixed)
- Loan to Value: 66% LTV
- Initial Period: 5-yr fixed
- Key Feature: UBS — Switzerland's largest bank; Festhypothek + Saron options; online application
Swissquote Mortgage CH Swissquote CH
1.78% initial
- Interest Rate: 1.78% fixed
- Loan to Value: Up to 80% LTV
- Initial Period: 10 years
- Key Feature: Digital bank; competitive rates
PostFinance Fixed Mortgage CH PostFinance Mortgage CH
1.78% initial
- Interest Rate: 1.78% (5-yr fixed)
- Loan to Value: 80% LTV
- Initial Period: 5-yr fixed
- Key Feature: PostFinance — digital mortgage; Swiss Post; competitive 5yr
HBL Mortgage CH Hypothekarbank Lenzburg CH
1.80% initial
- Interest Rate: 1.80% fixed
- Loan to Value: Up to 80% LTV
- Initial Period: 10 years
- Key Feature: Open banking pioneer Aargau
Migros Bank Fixed Mortgage CH Migros Bank Mortgage CH
1.82% initial
- Interest Rate: 1.82% (5-yr fixed)
- Loan to Value: 80% LTV
- Initial Period: 5-yr fixed
- Key Feature: Migros Bank — retail group; Cumulus bonus; wide branches
UBS Fixed Mortgage CH UBS Mortgage CH
1.85% initial
- Interest Rate: 1.85% (5-yr fixed)
- Loan to Value: 80% LTV
- Initial Period: 5-yr fixed
- Key Feature: UBS — largest bank CH; online mortgage calculator; green build bonus
Mobiliar Mortgage CH Die Mobiliar CH
1.85% initial
- Interest Rate: 1.85% fixed
- Loan to Value: Up to 80% LTV
- Initial Period: 10 years
- Key Feature: Swiss cooperative mortgage
Bank Cler Mortgage CH Bank Cler CH
1.85% initial
- Interest Rate: 1.85% fixed
- Loan to Value: Up to 80% LTV
- Initial Period: 10 years
- Key Feature: Digital-first Swiss bank
BCV Fixed Mortgage CH BCV Mortgage CH
1.90% initial
- Interest Rate: 1.90% (5-yr fixed)
- Loan to Value: 80% LTV
- Initial Period: 5-yr fixed
- Key Feature: BCV — Vaud cantonal bank; Romandy specialist
Baloise Mortgage CH Baloise CH
1.90% initial
- Interest Rate: 1.90% fixed
- Loan to Value: Up to 80% LTV
- Initial Period: 10 years
- Key Feature: Insurer-bank mortgage
Bank Cler Fixed Mortgage CH Bank Cler Mortgage CH
1.95% initial
- Interest Rate: 1.95% (5-yr fixed)
- Loan to Value: 80% LTV
- Initial Period: 5-yr fixed
- Key Feature: Bank Cler — digital-first BKB; Basel focused; Zak app
Helvetia Mortgage CH Helvetia Mortgage CH
2% initial
- Interest Rate: 2.00% (10-yr fixed)
- Loan to Value: 80% LTV
- Initial Period: 10-yr fixed
- Key Feature: Helvetia — insurer; long-term 10yr certainty; insurance combo
What is a mortgage in Switzerland?
A Swiss mortgage (Hypothek) finances the purchase of a home, typically covering up to about 80% of the property value, with the buyer providing at least 20% equity — of which a portion must be genuine savings rather than pension money. A defining Swiss feature is that mortgages are often not fully repaid: many borrowers only amortise down to two-thirds of value and keep the rest outstanding long-term, partly for tax reasons.
How the Swiss market works
Cantonal banks, Raiffeisen, UBS, Migros Bank and insurers like Helvetia compete on rates and terms, and pension funds also lend. Borrowers choose between fixed-rate mortgages (locking a rate for a set term), and SARON-based mortgages that track the Swiss reference rate. Affordability is tested on a theoretical imputed rate (commonly around 5%) so the loan remains sustainable if rates rise. The second-tier mortgage above two-thirds value must be amortised over time. Amortisation can be direct, reducing the loan itself, or indirect, paid into a Pillar 3a account pledged to the lender so the mortgage interest deduction and 3a tax benefit are both preserved. Buyers must also supply at least a fifth of the price as equity, and a defined portion of that must be genuine savings rather than withdrawn Pillar 2 pension assets. Fixed-rate deals lock certainty for a chosen number of years, while SARON mortgages track the reference rate and move with the market. Many borrowers split the loan into tranches with staggered maturities to balance rate certainty against flexibility and to avoid refinancing everything at once.
Benefits
Home ownership — Access property with a fraction of the price upfront.
Rate certainty — Fixed-rate deals lock your interest cost for years.
Tax efficiency — Mortgage interest is tax-deductible, encouraging partial repayment.
Product choice — Mix fixed tranches and SARON to balance certainty and flexibility.
How to choose
Weigh fixed versus SARON based on your rate outlook and risk appetite. Compare interest rates — currently broadly around 1.55% to 2% for many terms — plus the margin over SARON, term length and amortisation requirements. Check affordability against the theoretical rate, whether you can split the loan into tranches, and portability if you move. Also factor pension-fund (Pillar 2/3a) use for equity and the long-term tax treatment.
Leading providers in Switzerland
Cantonal banks like ZKB and BCV, cooperative Raiffeisen, UBS and Migros Bank are core mortgage lenders, with Hypothekarbank Lenzburg active online and insurer Helvetia offering competitive fixed rates. Pension funds and brokers add options. Rates and conditions vary, so comparing several lenders — and negotiating the margin — can save meaningfully over a multi-year term, especially on larger loans.
What it costs
The main cost is interest, currently in the region of 1.55% to 2% for popular fixed and reference-rate products, applied to the outstanding balance. SARON mortgages add a lender margin to the reference rate. Consider arrangement and property-valuation fees, plus notary and land-registry costs on purchase. Because loans are large and long, small rate differences and the choice of amortisation strongly affect lifetime cost.
Protections and regulation
Mortgage lenders are supervised by FINMA and follow self-regulatory affordability and equity guidelines requiring at least 20% down and amortisation of the second tranche. The theoretical-rate affordability test guards against over-borrowing. Consumer-protection and contract law govern terms, and early-repayment of a fixed mortgage typically incurs a break cost. Cantonal rules affect property taxes and transfer costs.
Common questions
How much deposit do I need? At least 20% equity, with a minimum share from genuine savings, not only pension assets.
Fixed or SARON? Fixed gives certainty; SARON can be cheaper but varies with the reference rate.
Must I repay it fully? Only down to two-thirds of value; the rest can remain outstanding long-term.
Mortgages in Switzerland — FAQ
What mortgage rate can I get in Switzerland right now?
Giraffy tracks 20 mortgage products across 20 lenders in Switzerland. Use the sort and filter controls to compare fixed versus variable rates and initial deal lengths.
What is the difference between a fixed-rate and a variable-rate mortgage?
A fixed-rate mortgage locks your interest rate for a set period — typically 2, 5, or 10 years — giving payment certainty. A variable rate moves with the central bank benchmark rate set by FINMA (Swiss Financial Market Supervisory Authority). Fixed rates suit those who want stability; variable suits those who expect rates to fall.
How much can I borrow with a mortgage?
Most lenders apply an income multiple — typically 4–5× your gross annual income for a conventional mortgage. Affordability assessments also factor in outgoings, existing debts, and the property's loan-to-value (LTV) ratio. A mortgage adviser or broker can run a full affordability assessment for free.
What is LTV (loan-to-value) and why does it matter?
Loan-to-Value (LTV) is the mortgage amount as a percentage of the property's value. A 90% LTV means you're borrowing 90% and putting down 10% as a deposit. Lower LTV means less risk for the lender — you'll typically be offered a lower interest rate with a deposit of 20–25% or more.
How long does mortgage approval take?
An indicative approval can usually be obtained the same day online. Full mortgage approval — after property valuation and underwriting — typically takes 2–6 weeks. Having all your documents ready (pay stubs, bank statements, ID) speeds up the process significantly.
Are there Islamic home-finance products available in Switzerland?
Sharia-compliant home-finance products structure the transaction without interest, typically through Murabaha (cost-plus financing) or Ijara (lease-to-own) arrangements. Check with individual lenders for availability in your market.
What fees are charged to set up a mortgage?
Lenders often charge arrangement, origination, or application fees to set up a mortgage — amounts vary by lender and market. You can usually add them to the loan, but you'll pay interest on them for the full term. For large loans, a higher-fee/lower-rate deal may be cheaper overall — compare total cost over the initial fixed period.