Our Take on Bank CIC Savings Account
0.20% interest sounds decent. Then you see the CHF 100 annual fee.
The Bank CIC Savings Account ranks #19 among Switzerland's 31 savings accounts. It's one of the few Swiss savings accounts that charges an account management fee, which significantly changes the value equation. The headline rate of 0.20% needs context.
Are the Fees Worth It?
Here's the math. At 0.20% per year, CHF 50,000 in savings earns you CHF 100 in interest. But the customer relationship fee is CHF 25 per quarter (CHF 100 per year). So on CHF 50,000, your net return is exactly CHF 0. You need over CHF 50,000 just to break even.
On CHF 100,000, you earn CHF 200 minus CHF 100 in fees, leaving CHF 100 net. That's an effective rate of 0.10%. Several free accounts offer 0.10% without any fees. The math doesn't work in your favor here.
What Actually Stands Out
No notice period specified for withdrawals, which is a genuine advantage. Most Swiss savings accounts require 3 to 12 months notice. If you value instant access to your savings (up to CHF 25,000 per year), that flexibility has real value.
Two payment orders per year are free, which is unusual for a savings account. Bank CIC is a Basel-based universal bank with physical branches. Swiss residents only, and your deposits are covered by Swiss deposit insurance up to CHF 100,000.
What Most Reviews Miss
The CHF 100 annual fee makes this one of the most expensive savings accounts in Switzerland. Most competitors charge zero. The break-even point of CHF 50,000 means this only makes financial sense for relatively large balances.
The withdrawal limit is CHF 25,000 per year. Only two payment orders per year are free, which suggests additional orders carry charges. Termination details aren't specified, so clarify exit costs before committing. Only for Swiss residents.
The Bottom Line
Unless you specifically need no-notice-period savings access and already bank with CIC, the fee structure makes this unattractive. Free alternatives offer comparable or better effective returns. Compare fee-free options in our best savings accounts in Switzerland ranking.
Verdict: The annual fee kills the value for most savers. Only consider with balances well above CHF 50,000.
Pros
- No minimum deposit required
Cons
- Annual management fee (CHF 100)
- Low interest rate
- Withdrawal limit of CHF 25,000 per year
- Age restriction: There are no limitations.
Account Details
At a Glance
Account Mgmt
CHF 100/year
Interest Rate
0.20%
Debit Card Fee
—
Currency
CHF
Minimum Deposit
CHF 0
Fees & Costs
Fees & Costs
Account Opening Fee
No fee
Account Mgmt
CHF 100/year
Debit Card Fee
—
Banking Features
Banking Features
Mobile Banking
Not available
Online Banking
Not available
Key Features
- No annual fee for debit card
- High interest rate of 0.20%
- Low minimum deposit requirement
Age Requirement
No age restrictions
Withdrawal Terms
Withdrawal Terms
Withdrawal Limit
CHF 25'000 / year
Account Closure
Contact bank for details
Additional Information
Additional Information
- Not suitable for payment services
- Only for Swiss residents
- Customer relationship fee of CHF 25 per quarter
Calculate Your Interest Earnings
See how much your deposit could earn with this account's 0.20% interest rate.
After 1 year
+CHF 100
Total Value: CHF 50'100
After 3 years
+CHF 301
Total Value: CHF 50'301
After 5 years
+CHF 502
Total Value: CHF 50'502
Rating by Category
Compare to Similar Accounts
Frequently Asked Questions
- Why is there a CHF 25/quarter customer relationship fee?
- CHF 25 per quarter, CHF 100 per year, charged just for holding the account. Almost no other Swiss savings products bill anything; the segment average is CHF 6.45/yr. On a CHF 50,000 balance at 0.2%, the fee eats the entire interest.
- Can non-Swiss residents open this account?
- No, only customers resident in Switzerland. Cross-border savers and recently relocated employees don't qualify. The residency clause is unusual: many Swiss savings accept EU residents, especially online-only products.
- How many free payment orders do I get?
- Two payment orders per year free; everything else priced separately. Light use only; this isn't a payment account. If you'd run more than two outgoing transfers per year, the standalone CIC private account is a better home for that activity.
How We Rated This Account
Wondering why Bank CIC Savings Account got its score? We rate Savings Accounts accounts using a weighted formula. Here's what counts.
Same formula for every account in this category. No exceptions.
Ready to Open?
Open the Bank CIC Savings Account today and start enjoying its benefits.