Our Take on SHKB Savings Account
0.05% from a cantonal bank. And it drops to zero after just CHF 25,000.
The SHKB Savings Account ranks #18 among Switzerland's 31 savings accounts. It's offered by the Cantonal Bank of Schaffhausen, one of Switzerland's 24 cantonal banks. The rate is low, the cap is tight, but the cantonal bank guarantee carries weight for safety-conscious savers.
Is the Interest Rate Competitive?
At 0.05% per year on balances up to CHF 25,000, this is at the very bottom of meaningful interest. Above CHF 25,000, the rate drops to 0%. On CHF 25,000, you earn CHF 12.50 per year. On CHF 100,000, still CHF 12.50 since only the first 25k earns anything.
To put that in perspective, the top-ranked savings account pays 40x more on the same balance. The CHF 25,000 ceiling is the lowest interest-bearing threshold we've seen among Swiss savings accounts.
What Actually Stands Out
Cantonal bank guarantee. SHKB is backed by the Canton of Schaffhausen, meaning your deposits have an implicit government guarantee beyond the standard CHF 100,000 deposit insurance. For extremely safety-conscious savers, this level of backing is meaningful.
The Cantonal Bank of Schaffhausen (SHKB) is a full-service bank with physical branches. Free account termination and no account management fees keep the cost at zero. The 3-month notice period is standard.
What Most Reviews Miss
The CHF 10,000 monthly withdrawal limit means you can access up to CHF 120,000 per year. That's reasonable. But the 3-month notice period applies to amounts above a certain threshold (typically varying by cantonal bank policy).
Age requirement: 25 years or older. That's a common cantonal bank restriction. Not suitable for payment services. If you're purely looking for returns, this account delivers almost nothing. The appeal is entirely about institutional safety.
The Bottom Line
You don't choose the SHKB Savings Account for returns. You choose it for the cantonal bank guarantee and the comfort of banking with a government-backed institution. If safety is your priority over yield, this works. For better rates, explore our best savings accounts in Switzerland comparison.
Verdict: Maximum safety, minimum returns. Only for savers who prioritize cantonal bank backing above all else.
Pros
- No annual fees
- No minimum deposit required
Cons
- Low interest rate
- Withdrawal limit of CHF 10,000 per month
- 3-month notice period for withdrawals
- Age restriction: For individuals from the age of 25.
Account Details
At a Glance
Account Mgmt
No fee
Interest Rate
0.05%
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 0.05%
- Low minimum deposit requirement
Age Requirement
From age 25
Withdrawal Terms
Withdrawal Terms
Withdrawal Limit
CHF 10'000 / month
Notice Period
3 month
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 0.05% 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
- Why does the rate drop to 0% so quickly?
- 0.05% only on the first CHF 25,000; 0% above. Most Swiss tiered savings keep the headline rate to CHF 50,000 to CHF 100,000. SHKB's threshold is exceptionally low. Park more than CHF 25,000 here and the marginal rate is zero.
- Why is the minimum age 25?
- You need to be 25 to open the SHKB Savings. Younger customers route to youth or student variants. Most Swiss savings start at 18, so the age floor is unusually high and worth checking before applying.
- Will the SHKB savings account cover an apartment deposit without notice?
- CHF 10,000 per month without notice; 3 months' notice for higher. Decent monthly headroom, but it rules out lump-sum events like apartment deposits without prior planning. Tax bills and routine renovations usually fit inside the limit.
How We Rated This Account
Wondering why SHKB 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 SHKB Savings Account today and start enjoying its benefits.