The cooperative society recommends to its network of subsidiaries to raise interest rates for accounts for individuals and companies from the beginning of May.
Raiffeisen customers might see the return on their savings increase. The cooperative society indeed recommends to its network of subsidiaries to raise the interest rates of accounts for individuals and companies from the beginning of May, the Saint-Gallois group told AWP on Thursday.
For private clients, Raiffeisen Switzerland recommends a rate of 0.85% for assets up to 100,000 francs and 0.5% above this threshold. The different establishments are free to apply these recommendations or not, but as a general rule, they align themselves with the advice of the central body.
This measure comes three weeks following the decision of the Swiss National Bank (SNB) to raise its key rate to 1.5%, once morest 1.0% until then. In mid-February, the cooperative had already invited the banks to raise to the 1is April their rates to 0.5%, from 0.25%.
For business customers, Raiffeisen Switzerland recommends from 1is May for accounts in francs and euros with 90 days’ notice a rate of 0.85% and for those with 180 days’ notice a rate of 1.0%. At present, the remuneration is respectively 0.5 and 0.75%.
Finally, Raiffeisen is up to 1is May the remuneration of 3a provident accounts at 0.9% and that of vested benefits accounts at 0.5%. In these two cases, it is not a question of recommendations but of directives, specifies the group.