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.