We compared the fund savings plans of Swiss banks. Our finding? Banks are expensive. We knew that, but when we found out about the fees of the fund savings plans in detail, we were somewhat surprised. The banks seem to want to outbid each other with their fees.
To be fair, it has to be said that sometimes only small amounts are paid into fund savings plans and these only accumulate to larger sums over time. Because the banks provide personalised advice and have correspondingly high personnel costs, it is quite understandable why they (have to) charge so much for the savings plans. We will show you exactly how much in this article.
Contents
Fund savings plan comparison: fees at a glance
In the table below you will find the fees for fund savings plans from 50 banks. The table is interactive so that you can view the providers with the highest or lowest costs.
| Provider | Fund name | Depot | TER of the fund | Transaction costs | Total costs per year |
|---|---|---|---|---|---|
| Aargauische Kantonalbank | AKB Wachstum CHF ESG Fokus | 0.30% | 1.41% | 0.00% | 1.71% |
| AEK BANK 1826 Genossenschaft | Swisscanto Portfolio Fund Responsible Ambition AT (CHF) | 0.25% | 1.55% | 0.20% | 2.00% |
| Alpha RHEINTAL Bank AG | Swisscanto (CH) Index Equity Fund Large Caps Switzerland FA CHF | 1.20% | 0.14% | 0.00% | 1.34% |
| Alternative Bank Schweiz AG | ABS Living Values - Balanced Fund R | 0.30% | 1.50% | 0.00% | 1.80% |
| Appenzeller Kantonalbank | Swisscanto (CH) Index Equity Fund World ex CH FA CHF | 0.50% | 0.25% | 0.00% | 0.75% |
| Baloise Bank AG | BFI Dynamic (CHF) R | 0.55% | 0.65% | 0.00% | 1.20% |
| Banca dello Stato del Cantone Ticino | BancaStato ESG Vita 60 | 0.40% | 1.20% | 0.00% | 1.60% |
| Banca Popolare di Sondrio (Suisse) SA | Popso (Suisse) Investment Fund SICAV - US Value Equity (UCITS) | 1.00% | 2.20% | 0.05% | 3.25% |
| Bank EKI Genossenschaft | Swisscanto (LU) Portfolio Fund Responsible Ambition (CHF) AT | 0.45% | 1.55% | 0.00% | 2.00% |
| Bank Oberaargau AG | Clientis Fonds (CH) - Growth | 0.35% | 1.63% | 0.15% | 2.13% |
| Bank Thalwil Genossenschaft | Swisscanto (LU) Portfolio Fund Balanced B | 0.00% | 1.40% | 0.20% | 1.60% |
| Banque Cantonale de Fribourg | BCF/FKB (CH) Active Dynamic | 0.25% | 1.38% | 0.00% | 1.63% |
| Banque Cantonale de Genève | Synchrony (LU) World Equity (EUR) A | 0.00% | 2.67% | 0.00% | 2.67% |
| Banque Cantonale Vaudoise | BCV Stratégie Revenu | 0.19% | 1.27% | 0.00% | 1.46% |
| Basellandschaftliche Kantonalbank | BLKB Next Generation Fund Growth B | 0.10% | 1.44% | 0.00% | 1.54% |
| BBO Bank Brienz Oberhasli AG | Swisscanto (CH) Index Equity Fund World (ex CH) Responsible FA CHF | 0.50% | 0.25% | 0.05% | 0.80% |
| Berner Kantonalbank AG | BEKB-Strategiefonds Wachstum B | 0.20% | 1.35% | 0.10% | 1.65% |
| Bezirks-Sparkasse Dielsdorf Genossenschaft | CS (Lux) Portfolio Fund Balanced USD B | 0.30% | 1.92% | 0.00% | 2.22% |
| BS Bank Schaffhausen AG | Clientis Fonds (CH) - Growth | 0.20% | 1.63% | 0.13% | 1.96% |
| Burgergemeinde Bern, DC Bank Deposito-Cassa der Stadt Bern | Pictet CH - LPP 40 - P dy CHF | 0.35% | 0.93% | 0.10% | 1.38% |
| Caisse d'Epargne Courtelary SA | Clientis Fonds (CH) - Growth | 0.25% | 1.63% | 0.08% | 1.96% |
| Clientis Bank Aareland AG | Clientis Fonds (CH) - Growth | 0.20% | 1.63% | 0.10% | 1.93% |
| Clientis Bank im Thal AG | Clientis Fonds (CH) - Growth | 0.25% | 1.63% | 0.15% | 2.03% |
| Clientis Bank Oberuzwil AG | Clientis Fonds (CH) - Growth | 0.50% | 1.63% | 0.15% | 2.28% |
| Clientis Bank Thur Genossenschaft | Clientis Fonds (CH) - Growth | 0.25% | 1.63% | 0.18% | 2.06% |
| Clientis Bank Toggenburg AG | Clientis Fonds (CH) - Growth | 0.35% | 1.63% | 0.15% | 2.13% |
| Clientis Entlebucher Bank AG | Clientis Fonds (CH) - Growth | 0.25% | 1.63% | 0.10% | 1.98% |
| Clientis Sparkasse Oftringen Genossenschaft | Clientis Fonds (CH) - Growth | 0.25% | 1.63% | 0.13% | 2.01% |
| Ersparniskasse Affoltern i.E. AG | Clientis Fonds (CH) - Growth | 0.15% | 1.63% | 0.11% | 1.89% |
| Glarner Kantonalbank | GLKB ESG Wachstum Vorsorge | 0.00% | 1.20% | 0.00% | 1.20% |
| Graubündner Kantonalbank | GKB (CH) Strategiefonds Wachstum ESG W | 1.10% | 0.64% | 0.00% | 1.74% |
| Hypothekarbank Lenzburg AG | Multi Asset – Wachstum (Tracker Zertifikat) | 0.00% | 1.30% | 0.00% | 1.30% |
| Luzerner Kantonalbank AG | LUKB Expert-Wachstum | 0.17% | 1.35% | 0.05% | 1.57% |
| Migros Bank AG | Migros Bank (CH) Fonds 65 | 0.12% | 1.05% | 0.00% | 1.17% |
| Obwaldner Kantonalbank | SWISSCANTO (LU) PORTFOLIO FUND FCP - RESPONSIBLE AMBITION (CHF) | 0.15% | 1.55% | 0.00% | 1.70% |
| PostFinance AG | PF - ESG Growth Strategy Fund | 0.15% | 1.23% | 0.00% | 1.38% |
| Raiffeisen Schweiz Genossenschaft | Raiffeisen Futura II - Systematic Invest Growth B | 0.25% | 0.74% | 0.15% | 1.14% |
| Schaffhauser Kantonalbank | SWC (CH) Equity Fund Sustainable | 0.70% | 1.90% | 0.00% | 2.60% |
| Schwyzer Kantonalbank | SZKB Strategiefonds Wachstum A | 0.20% | 1.29% | 0.00% | 1.49% |
| Spar- und Leihkasse Thayngen AG | Clientis Fonds (CH) - Growth | 0.25% | 1.63% | 0.10% | 1.98% |
| Sparcassa 1816 Genossenschaft | Clientis Fonds (CH) - Growth | 0.20% | 1.63% | 0.10% | 1.93% |
| Sparkasse Schwyz AG | Fronalpstock Fonds - Wachstum (CHF) - A | 0.00% | 1.26% | 0.00% | 1.26% |
| Sparkasse Sense | Clientis Fonds (CH) - Growth | 0.00% | 1.63% | 0.15% | 1.78% |
| St. Galler Kantonalbank AG | SGKB (CH) Fund - Strategie Wachstum | 0.20% | 1.54% | 0.00% | 1.74% |
| Thurgauer Kantonalbank | TKB Strategiefonds Wachstum ESG (CHF) | 0.25% | 1.39% | 0.20% | 1.84% |
| UBS Switzerland AG | UBS (Lux) Strategy Fund - Growth Sustainable (CHF) P-acc | 0.00% | 1.91% | 0.00% | 1.91% |
| Urner Kantonalbank | Swisscanto (LU) Portfolio Fund Responsible Ambition (CHF) | 0.65% | 1.00% | 0.15% | 1.80% |
| VP Bank (Schweiz) AG | VP Bank Strategy Fund Balanced (CHF) B | 0.35% | 1.87% | 0.00% | 2.22% |
| Zuger Kantonalbank | SWISSCANTO (LU) PORTFOLIO FUND FCP - RESPONSIBLE AMBITION (CHF) | 0.22% | 1.55% | 0.15% | 1.92% |
| Zürcher Kantonalbank | Swisscanto (CH) Portfolio Fund Responsible Ambition AA CHF | 0.00% | 1.55% | 0.15% | 1.70% |
Calculation of fees for fund savings plans
In order to be able to compare the fund savings plans with each other, we have calculated the annual costs of the fund savings plans as follows:
- Custody account fees: The custody account fees are recurring annual fees. Some providers also work with an all-in fee. However, this term is misleading. All-in fee only means that no additional transaction fees are charged. This does not mean that there are no additional costs. The fund costs are not included in the all-in fee.
- + TER costs of the funds: We have chosen a fund with a medium to high proportion of equities. These funds often have the term “growth” in their name. We also made sure that the global equity market is represented as well as possible, not just Switzerland. The costs of the fund in question are also incurred annually.
- + Transaction costs: We have assumed an average holding period of ten years for the transaction costs. Accordingly, we have divided brokerage fees or issue and redemption commissions by ten.
Important: We do not claim that this comparison is exhaustive. The banks’ offers and costs are not transparent and comprehensible enough for this. But we think it is already an added value for you if you can see that, in addition to the custody account fees or a supposed all-in fee, there are additional costs, especially for the funds used.
Other costs that may be incurred with fund savings plans
- Minimum fees: Some banks also charge a minimum deposit fee for fund savings plans. If you only pay in a very small amount, you should make sure that you choose a provider that does not charge a minimum fee.
- Fees on foreign currency exchange: If you subscribe to a fund that is not in Swiss francs, the bank will first have to convert your money into the foreign currency before it can make the investment for you. Please note that the banks charge a premium on the exchange rate and not all the money will end up in the fund.
- Costs for the tax directory: Banks often charge additional fees for e-tax statements, for example. The e-tax statement makes your life much easier. It fills in the securities register automatically by uploading it to the tax return software.
- Closure fee: Fees may also be charged for the closure of fund savings accounts, known as balancing.
Finally, there are other costs that can hardly be avoided when investing money (federal sales tax/stamp duty, stock exchange fees, etc.), but which the provider itself does not pocket.
Alternatives to the fund savings plan at the bank
The high costs of fund savings plans are a major burden on your savings. They have to be earned by the bank before you as a customer can make a profit. It is easier if the offer is more favourable. Robo-advisors and digital asset managers are a good one per cent cheaper per year in comparison.
It’s true that you can’t expect personalised investment advice from a digital provider like you would from a bank. But let’s be honest. These consultations really aren’t that complex. In fact, the bank advisor primarily helps you to fill out a questionnaire, which is actually required by law (see Art. 17 of the Financial Services Ordinance (FinSO)).
This questionnaire is used to determine your financial situation and investment horizon on the one hand, and your risk appetite on the other. The investment horizon refers to the duration for which you can pursue a savings plan or generally make an investment (short = a few years; medium = approx. 5 years; long = 10 years or more). The result is a risk profile.
The risk profile serves as a guideline for your bank advisor when it comes to choosing an investment strategy. When choosing an investment strategy, it is important to select the right proportion of equities. A higher proportion of equities means that the value of the investments will fluctuate more. A higher proportion of equities requires you to be more able and willing to bear the corresponding risks. You must therefore have a “higher” risk profile.
A digital provider does the same. They first ask you the necessary questions to determine your risk capacity and then suggest an investment strategy.
Investment solution from finpension
finpension has been offering a digital investment solution since mid-May 2024. You can invest money with finpension from as little as one franc. Thanks to finpension’s ETF savings plan, all you have to do is transfer money regularly. We take care of the investing.
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