Kontomat Savings Account 12 months

A pure online savings account with a 12-month notice period. Is 0.15% worth the wait?

The Kontomat Savings Account 12 months ranks #9 among Switzerland's 31 savings accounts. It's a fully online savings product with a 12-month notice period, targeting savers who want a hands-off digital experience. The rate is modest, but the structure is clean and simple.

Is the Interest Rate Competitive?

At 0.15% per year, this sits in the lower-mid range. It's 3x what PostFinance or Yuh offer (0%), but well below the top performers at 0.50% and above. On CHF 100,000, you're earning CHF 150 per year. Not exciting, but not zero either.

The rate is straightforward with no tiers. Whether you deposit CHF 1,000 or CHF 2,000,000 (the maximum), the rate stays the same. That simplicity has its own appeal in a market full of tiered structures that drop to 0% above arbitrary thresholds.

What Actually Stands Out

Maximum deposit of CHF 2,000,000. For high-net-worth savers, this is notable. Most savings accounts cap interest-bearing balances at CHF 100,000 to CHF 250,000. Here, you earn 0.15% on the full CHF 2 million. That's CHF 3,000 per year on the max.

Kontomat is a fully online platform. Direct online application, digital management, and up to three accounts per customer. If you want to segment your savings goals across separate accounts, you can.

What Most Reviews Miss

Withdrawal limit of CHF 10,000 per year. That's tight, especially for larger balances. If you deposit CHF 500,000, accessing just 2% of your funds annually is restrictive. The 12-month notice period means you need to plan a full year ahead for any withdrawals.

Not suitable for payment services. No mobile banking app, no debit card. This is a park-and-forget product. Free termination is nice, but given the 12-month notice, leaving isn't quick.

The Bottom Line

The Kontomat 12-month account works best for savers with large sums they genuinely won't need for over a year. The flat rate structure and high deposit cap are its strengths. The tight withdrawal limit is its weakness. See how it compares in our best savings accounts in Switzerland guide.

Verdict: For long-term, high-balance parking. Not for anyone who values liquidity.