Our Take on 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.
Pros
- No annual fees
- No minimum deposit required
Cons
- Low interest rate
- Withdrawal limit of CHF 10,000 per year
- Age restriction: For individuals from the age of 18.
Account Details
At a Glance
Account Mgmt
No fee
Interest Rate
0.15%
Debit Card Fee
—
Currency
CHF
Minimum Deposit
CHF 0
Fees & Costs
Fees & Costs
Account Opening Fee
No fee
Account Mgmt
No fee
Debit Card Fee
—
Banking Features
Banking Features
Mobile Banking
Not available
Online Banking
Not available
Key Features
- Free account management
- No annual fee for debit card
- High interest rate of 0.15%
- Low minimum deposit requirement
Age Requirement
From age 18
Withdrawal Terms
Withdrawal Terms
Withdrawal Limit
CHF 10'000 / year
Account Closure
Free of charge
Additional Information
Additional Information
- Not suitable for payment services
Calculate Your Interest Earnings
See how much your deposit could earn with this account's 0.15% interest rate.
After 1 year
+CHF 75
Total Value: CHF 50'075
After 3 years
+CHF 225
Total Value: CHF 50'225
After 5 years
+CHF 376
Total Value: CHF 50'376
Rating by Category
Compare to Similar Accounts
Frequently Asked Questions
- What does '12 months' actually constrain?
- Withdraw more than CHF 10,000 in a calendar year and you wait 12 months for the rest. The 0.15% rate compensates for the lockup. If your savings horizon is shorter than a year, this account doesn't fit.
- Is there a deposit cap I should know about?
- Maximum CHF 2,000,000 in the account. Generous for most savers, hard ceiling for high-net-worth households. Spread larger amounts across multiple Kontomat accounts (max 3) or other banks if you exceed it.
- How many Kontomat accounts can I open?
- Up to 3 accounts per customer. Useful if you're separating renovation savings, emergency funds, and a longer-term goal under the same brand. Combined with the CHF 2M cap per account, you can park up to CHF 6M across the relationship.
How We Rated This Account
Wondering why Kontomat Savings Account 12 months 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 Kontomat Savings Account 12 months today and start enjoying its benefits.