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Open a savings account with attractive interest rates? Many Swiss people have to go to bank branches to do this, where they have to wait, fill in forms and thankfully reject other products. Not so with the Zak savings account!
No waiting at the counter, no cumbersome forms. This is exactly what Zak Sparen offers with the new Zak savings account: A simple, fast and effective way to earn even better interest on your money.
In this article, you'll find all the information you need about the new Zak Savings and even get a comparison with traditional savings accounts.
You can clearly see the difference in the following interest rate comparison with some well-known traditional banks.
| Provider | Interest rate | Withdrawal limit |
|---|---|---|
| Zak Save | 1,3% | CHF 10'000 |
| Raiffeisen Zurich | 0,75% | CHF 30'000 |
| UBS savings account | 0,38% | CHF 50,000 |
| ZKB | 0,34% | CHF 10'000 |
| Migros Bank | 0,28% | CHF 50,000 |
Interest rates as at May 2024, no guarantee of up-to-dateness.
It is also clear that interest rates change regularly and are sometimes used for marketing purposes. However, digital banks always tend to offer better conditions than traditional banks due to their lower fixed costs. Other Swiss online banks pay attractive, albeit currently not quite as high, interest rates.
You can therefore assume that Zak Sparen will continue to offer attractive conditions in the future.
Your key to success! Discover our top recommendations from real testimonials.
| Function | Zak Save | Traditional bank |
|---|---|---|
| Digital account opening | Yes | No |
| Interest rate | 1.3% up to CHF 100,000 | approx. 0.2% - 0.6% |
| Account management fees | Free of charge | Often subject to a fee |
| Deposit protection | Up to CHF 100,000 | Up to CHF 100,000 |
Savings accounts usually have a withdrawal limit. This is because the bank invests your money in the savings account in low-risk investments with a fixed term in the background.
This commitment also means that the bank cannot withdraw from these investments prematurely without risk or cost. A withdrawal limit is therefore absolutely logical and not a bad thing for you.
Tip on the withdrawal limit: Plan your payments into your savings account based on your goals. What money can and should be paid into the savings account and for how long?
If you plan your savings consciously, you won't have a problem with the term.
The Zak savings account has a withdrawal limit of CHF 10,000, which means you can withdraw this amount each year.
You can withdraw larger amounts for a fee of 2.0%. Strictly speaking, the fees are even lower, as your money still earns interest during the year.
"Intelligent people learn from the mistakes of others".
We have compiled our top selection for you from all our tests and experience reports:
With the new Zak savings account, you can save money within your Zak app with just a few clicks. Even better interest rates receive. The opening is digital, free of charge and very convenient.
It is important that you observe the withdrawal limit when depositing money into your Zak savings account. However, as this is quite high, this should not be a problem. Early withdrawal is possible with a small fee.
All in all, Zak Saving is an exciting solution that is very interesting for both existing and new Zak users and should definitely be used!
If you don't have a Zak account yet, you can open one free of charge and with CHF 50 starting credit using the following code.
Transparency note: This article was created in collaboration with Zak from Bank Cler. The content and presentation have nevertheless been freely and independently created by Schwiizerfranke.
The information on Zak is intended exclusively for persons domiciled in Switzerland. A Zak account can only be opened with domicile in Switzerland.