Migros Bank Savings Account
Migros Bank
Overall Rating
Account Mgmt
No fee
Interest Rate
0.05%
Currency
CHF
Our Take on Migros Bank Savings Account
0.05% interest with a 1-month notice period. Migros Bank keeps it simple and short.
The Migros Bank Savings Account ranks #22 among Switzerland's 31 savings accounts. It's the standard savings product from one of Switzerland's most popular retail banks. The rate is low, but the practical features and short notice period give it some everyday utility.
Is the Interest Rate Competitive?
At 0.05% per year on balances up to CHF 100,000 (0% above), this is in the bottom tier. On CHF 100,000, you earn CHF 50 annually. That's essentially a rounding error. Most Swiss major banks offer similar rates, so this is the market standard for big-name savings.
If you want more, Migros Bank's own Investment Savings Account doubles the rate to 0.10% (plus a 0.10% bonus). But the standard account's simplicity has its own appeal for those who just want somewhere to park cash.
What Actually Stands Out
The 1-month notice period is the shortest among Swiss savings accounts. Most require 3 to 12 months. If you value quick access to your savings, this is as close as it gets to an on-demand account while still technically being a savings product.
12 free cash withdrawals or purchases per year, and you can link the account to your existing Migros debit card. That means ATM access directly from savings. Migros Bank is owned by the Migros cooperative, so there's no pressure to maximize shareholder profits.
What Most Reviews Miss
The CHF 50,000 monthly withdrawal limit means you can access up to CHF 600,000 per year. That's the most generous withdrawal structure in our savings account review. Combined with the 1-month notice, this is nearly as liquid as a checking account.
Age restriction: 25 to 60 years old. Retirees and younger savers are excluded. Not suitable for payment services despite the debit card linkage. The card lets you withdraw cash but not make direct payments from the savings account.
The Bottom Line
Choose this for accessibility, not returns. The 1-month notice period and debit card linkage make it the most liquid savings account in Switzerland. The rate is forgettable, but the convenience is real. See all options in our best savings accounts in Switzerland comparison.
Verdict: Switzerland's most accessible savings account. Just don't expect meaningful interest.
Pros
- No annual fees
- No minimum deposit required
Cons
- Low interest rate
- Withdrawal limit of CHF 50,000 per month
- 1-month notice period for withdrawals
- Age restriction: Age 25 to 60
Account Details
At a Glance
Account Mgmt
No fee
Interest Rate
0.05%
Debit Card Fee
—
Currency
CHF
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 0.05%
- Low minimum deposit requirement
Age Requirement
Age 25 to 60
Withdrawal Terms
Withdrawal Terms
Withdrawal Limit
CHF 50'000 / month
Notice Period
1 month
Account Closure
Free of charge
Additional Information
Additional Information
- Not suitable for payment services
- Can be linked to your debit card
- 12 free withdrawals per year
Calculate Your Interest Earnings
See how much your deposit could earn with this account's 0.05% interest rate.
After 1 year
+CHF 25
Total Value: CHF 50'025
After 3 years
+CHF 75
Total Value: CHF 50'075
After 5 years
+CHF 125
Total Value: CHF 50'125
Rating by Category
Compare to Similar Accounts
Frequently Asked Questions
- How does this differ from Migros Bank's other savings products?
- Standard Savings: CHF 50,000/month withdrawals, 1-month notice, 0.05% rate. Bonus: 0.2% but year-1 only and 3-month notice. Investment Savings: 0.1% with no-withdrawal bonus. Standard wins on flexibility, Bonus on first-year rate, Investment on long-term parking.
- Why are the eligibility ages 25 to 60?
- Open only to individuals aged 25 to 60. Younger customers go to Migros Bank youth or student variants; older customers to retirement products. Tighter bracket than most Swiss savings; check both ends if you're near a boundary.
- How many free withdrawals do I get?
- Twelve free cash withdrawals or purchases per year via the linked debit card. Beyond that, fees apply per Migros Bank's price sheet. Useful for monthly access; restrictive if you're tapping the account weekly.
How We Rated This Account
Wondering why Migros Bank 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 Migros Bank Savings Account today and start enjoying its benefits.