SHKB Provision Account 3a

Schaffhausen's cantonal bank pays 0.10% on 3a savings. Even government backing doesn't make that exciting.

SHKB Provision Account 3a ranks #82 among 93 3a savings accounts in Switzerland. The Cantonal Bank of Schaffhausen (SHKB) is a state-owned institution with a solid local reputation. At 0.10% with no management fee and 5 withdrawal options, it's a bare-bones product that relies on cantonal bank trust rather than competitive pricing.

Is the Interest Rate Competitive?

0.10% from a cantonal bank is underwhelming. SHKB has the balance sheet and government backing to offer more, but chooses not to. On CHF 7,056, you earn CHF 7.06 per year. The top 3a savings accounts would give you CHF 50+ on the same deposit.

The no-management-fee structure is standard for cantonal banks. But the rate places SHKB in the bottom 15% of all 3a products, which is a poor showing for a government-backed institution.

What Actually Stands Out

Cantonal guarantee from the Canton of Schaffhausen. Your deposits benefit from both esisuisse protection and the implicit government backing that comes with cantonal bank status. For absolute capital safety, cantonal banks remain the gold standard.

SHKB has a strong branch presence across the Canton of Schaffhausen, and their digital banking is competent for a regional cantonal bank. Five withdrawal options provide full flexibility for all legally permitted early access scenarios.

What Most Reviews Miss

Schaffhausen is one of Switzerland's smaller cantons, and SHKB's deposit base is relatively modest. The bank's low 3a rate may reflect its funding needs: if deposit growth isn't a strategic priority, there's no incentive to offer competitive rates.

The opportunity cost of 0.10% is significant over time. A 40-year-old saving until 65 at maximum contributions would earn roughly CHF 2,200 in total interest at SHKB. At a top-ranked provider, that figure would be approximately CHF 12,000. The cantonal guarantee isn't worth CHF 10,000.

The Bottom Line

SHKB's 3a account is safe and simple, but the 0.10% rate is too low for active recommendation. Schaffhausen residents who value the cantonal relationship may accept it. Everyone else should compare options with our Pillar 3a comparison tool.

Verdict: Government-backed safety at a government-level pace of returns. Fine for cantonal bank loyalists, but the rate doesn't respect your savings.