Sort your Swiss banking - and finance your first home
Open the right account without bleeding fees, and understand exactly what a Swiss bank will lend you. We help expats get day-to-day money and mortgages right - independent and in plain English.
- Independent
- Free advice
- Tailored to expats
Can you afford that Swiss home?
Swiss lenders are strict: you need at least 20% equity (10% of it in cash, not just pension money), and your total housing cost must stay under about one third of gross income when calculated at a notional 5% rate. Run your numbers below.
Your numbers
At least 20% of the price, and at least 10% in hard cash (not pension money).
Your affordability
Looks affordable
Costs are 28.9% of gross income and loan-to-value is 75.0% - within standard Swiss rules.
Annual imputed cost
Indicative only, based on standard Swiss lending rules (as of 2025) - not a lending offer. Banks vary.
20% minimum equity
10% in hard cash
Tested at ~5% notional rate
Housing cost < 1/3 income
Choose an account that fits - not one that drains fees
Switzerland has big universal banks, state-backed and cantonal banks, PostFinance, and low-cost neobanks - plus multi-currency apps for anyone earning in CHF but spending elsewhere. The right pick depends on whether you want a mortgage, multi-currency, or just cheap everyday banking.
Indicative overview, as of 2025 - always check current terms with the provider.
Neon
Swiss neobank- Monthly fee
- CHF 0
- Multi-currency / FX
- Low card/FX fees
- Best for
- Low-cost everyday banking
Yuh
Swiss neobank- Monthly fee
- CHF 0
- Multi-currency / FX
- Multi-currency + investing built in
- Best for
- Everyday + light investing
Wise
Multi-currency (non-Swiss)- Monthly fee
- CHF 0 base
- Multi-currency / FX
- Near mid-market FX, many currencies
- Best for
- Cross-border transfers & currencies
PostFinance
State-linked- Monthly fee
- ~CHF 5/mo
- Multi-currency / FX
- Standard
- Best for
- Simple, widely accepted everyday banking
Cantonal bank (e.g. ZKB)
Cantonal- Monthly fee
- Low, often reduced for residents
- Multi-currency / FX
- Full service
- Best for
- Local service + mortgages
UBS
Big universal bank- Monthly fee
- ~CHF 5-15/mo (often waivable)
- Multi-currency / FX
- Full multi-currency + wealth
- Best for
- Full service, mortgage & wealth
Independent. Whole-market. Genuinely free.
We're a Swiss financial intermediary - not tied to any single bank or lender. We compare across the entire market, translate the small print into English, and only recommend what actually fits your life in Switzerland.
Independent
Not owned by a bank. Advice you can trust.
Whole-market
We compare across providers - not a single carrier.
Always free
Partners pay a regulated brokerage - never you.
Expat-focused
In English, cross-border aware, tailored to newcomers.
First steps with money
- Open a Swiss account as soon as you have an address and permit
- Salary, rent and health premiums all run through it
- Set up eBill and standing orders for recurring bills
- Build a Swiss credit footprint before applying for a mortgage
Opening your first Swiss account
To open a resident account you typically need your passport, a residence permit or a registration confirmation (Anmeldebestätigung) from the commune, and a Swiss address. Neobanks like Neon and Yuh let you do this fully in-app; cantonal and big banks usually mix digital onboarding with a short branch visit.
You'll need a Swiss IBAN before your employer can pay your salary and before most landlords will set up rent collection, so this is usually the first job in your first fortnight here.
Buying a home in Switzerland
- At least 20% equity, of which 10% in hard cash
- Lenders test affordability at a notional 5% interest rate
- Total housing costs should stay under about 33% of gross income
- B-permit holders can buy their own home, with lender conditions
From renting to owning
Swiss mortgages require at least 20% equity, and at least half of that (10% of the purchase price) has to be "hard" cash or securities - not pension money. Affordability is tested at a notional interest rate of roughly 5%, and total housing cost must stay under about a third of gross income.
You can use pillar 2 (occupational pension) and pillar 3a (private pension) toward the purchase, either by withdrawing or - usually smarter - by pledging them. See our investments & pensions page for the pension side.
Once approved, you'll choose between a fixed-rate mortgage (rate locked for 2-10 years, predictable) and a SARON mortgage (floating with the Swiss reference rate, typically cheaper on average but variable). We compare offers across banks and insurers so you don't pay a "loyalty premium" to your existing bank.
Banking & mortgages in Switzerland - common expat questions
Which Swiss bank is best for expats?
There is no single best bank. Neobanks like Neon or Yuh are cheap for everyday use; big and cantonal banks are stronger for mortgages, multi-currency and wealth; Wise or Revolut are great for moving money across borders. We match the bank to how you actually live and earn.
Can I open a Swiss bank account before I arrive?
Some banks allow it, but most accounts are activated once you have a residence permit or registration confirmation. Neobanks onboard fastest, often within a day of registering.
What's the cheapest way to send money abroad from Switzerland?
Traditional Swiss banks add an FX margin of roughly 1.5-3% on transfers. Multi-currency providers such as Wise or Revolut price close to the mid-market rate and are usually the cheapest route for recurring transfers home (as of 2025).
How much can I borrow for a Swiss home?
Swiss banks require at least 20% equity (10% in hard cash) and test affordability at a notional rate of about 5%, keeping total housing cost under roughly one third of gross income. Use the affordability check above to see a realistic figure.
Can expats on a B permit get a mortgage?
Yes - B and C permit holders can generally get a mortgage on a primary residence on similar terms to Swiss residents. Lex Koller restricts holiday homes and pure investment property for non-residents, but not your own home.
Is your advice really free?
Yes. The comparison and consultation are free and non-binding. We're an independent Swiss financial intermediary, not tied to any single bank or lender.
Get your banking and mortgage right - for free
Check what you can borrow, or book a 30-minute call. Independent advice, no obligation.