First banks have negative interest rates on savings

Others are also loosening after the National Bank hammer

There are no negative interest rates on this bank

After the National Bank’s interest rate hammer on Thursday, the first banks announced that they would lower negative interest rates for private individuals. A bank stops the penalty interest regime altogether.

Published: 06/17/2022 at 18:06

The turnaround in interest rates is here! The Swiss National Bank (SNB) is unpacking the hammer, announced on Thursday turning away from the record-low key interest rate. “Several banks confirm that they are now reducing negative interest rates,” says Benjamin Manz (41), head of the online comparison service Moneyland, to Blick.

The Zurich-based private bank Vontobel puts an end to annoying penalty interest on savings. “After the SNB decision, we will completely eliminate (negative interest) on Swiss franc deposits from our private customers,” confirms spokesman Urs Fehr finance portal «Inside Paradeplatz». It says that the family bank is going further than all the other financial institutions that spoke out after the SNB interest rate coup.

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