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.