BKB Savings 3 Account

A state-guaranteed cantonal bank at 0.30%. But there's a CHF 20 closure fee to know about.

BKB Savings 3 Account ranks #25 among 93 3a savings accounts in Switzerland. Basler Kantonalbank (BKB) is one of Switzerland's larger cantonal banks, backed by the canton of Basel-Stadt's state guarantee. Their 3a account offers institutional stability and a competitive rate, but the CHF 20 closure fee is worth noting.

Is the Interest Rate Competitive?

At 0.30%, BKB's rate is at the Swiss average for 3a savings. No management fee, which is expected. But here's the detail: there's a CHF 20 closure fee when you eventually withdraw or transfer your account. That's not unusual among cantonal banks, but many competitors charge nothing.

The closure fee is a one-time cost, so on a CHF 50,000 balance at withdrawal, it represents just 0.04%. Annoying in principle, negligible in practice. But it's the kind of thing you should know upfront.

What Actually Stands Out

The cantonal state guarantee is BKB's defining advantage. Unlike private banks or cooperatives, BKB is backed by the canton of Basel-Stadt. If the bank ever faced financial difficulty, the canton would intervene. This goes beyond standard esisuisse deposit insurance and provides an extra layer of security.

BKB has a strong presence in Basel with numerous branches, ATMs, and advisory services. If you're based in Basel-Stadt or Basel-Landschaft, the convenience of having your 3a with the dominant local bank is real.

What Most Reviews Miss

The CHF 20 closure fee matters more if you're opening multiple 3a accounts for staggered withdrawals. With five accounts, that's CHF 100 in total closure fees. Most smaller banks and digital providers charge nothing. Over a 30-year saving period, CHF 100 is trivial, but it's still an unnecessary cost when fee-free alternatives exist.

BKB's 3a rate used to be higher. Like many cantonal banks, they've adjusted downward. If you opened years ago at a better rate, you're now earning the same as the market average. Inertia isn't a great reason to stay if better rates are available with equal or greater safety.

The Bottom Line

BKB's Savings 3 Account makes sense for Basel residents who want the safety of a state-guaranteed cantonal bank. The rate is average and the closure fee is minor, but fee-free alternatives with higher rates exist. Compare all options in our best 3a savings accounts in Switzerland ranking.

Verdict: A safe, state-guaranteed 3a savings account for Basel-based savers. The CHF 20 closure fee is the only blemish on an otherwise solid product.