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April 12, 2017

For Easter, don't put all your eggs in one basket

For Easter, don't put all your eggs in one basket

As the popular proverb goes, it is best not to put all your eggs in one basket, risking everything on the outcome of a single opportunity.

While this recommendation applies perfectly to risky financial investments, it can also be extended to making profit from savings accounts. By placing the money you save into different savings accounts, you can potentially increase your returns.

 

 

Savings available for short-term projects


For short-term plans such as holidays, or to deal with an unexpected expense, it is important to keep some money in a classic savings account from which you can withdraw money at any time.

This type of savings account does not pay the most interest, but it has the advantage of giving you access to your cash when you need it.

 

 

Effective saving for medium-term projects


For medium-term projects, such as a large purchase or a real estate project, you can opt for a locked-in savings account over a certain period of time that will provide you with a better return.

There are different types of savings accounts that can be tailored to your needs. Some accounts offer, for example, a higher interest rate for those building up own their funds in order to be able to purchase a home.

Please do not hesitate to compare the conditions of savings accounts to find the one that best fits your plans.

 

 

Effective pension saving for long-term projects


Putting money aside is a way of planning for the longer term, especially retirement.

In this case, a 3rd pillar A savings account will enable you to gradually build up capital for the moment when you stop working, while benefiting from a lower interest rate than a traditional savings account, as well as tax benefits.

Each year, it is possible to deduct the amounts paid into your 3rd pillar A account from your taxable income.1

 

 

 

 

Do you have any questions? Would you like more information about a particular subject?
Please e-mail us your comments on this article to communication@ca-financements.ch



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1 The deductible amount is capped. In 2017, payment into a 3rd pillar A pension plan is limited to CHF 6,768 for employees. Those who are self-employed and without a pension scheme are limited to 20% of their annual revenue (subject to a limit of CHF 33,840).
Images: ©lavju83 and ©Bozena Fulawka | Fotolia
June 2, 2020

Standing together against COVID-19

In these challenging times, we want to support people in tackling the crisis and are committed to the fight against COVID-19, through several initiatives.
June 2, 2020

What type of savings should you choose?

Traditional savings, investment funds, pension plans, or all three at the same time? What are the advantages and disadvantages of each savings option? How can you choose?
March 25, 2020

There for you... even at a distance

In this uncertain and challenging time, we think it is important for you to know that we are still there for you, and that we are doing everything we can to provide you with uninterrupted, high-quality service.

To protect you and our staff from the Coronavirus (COVID-19) pandemic, and to comply with the instructions issued by the Swiss authorities, we must all avoid any unnecessary contact. That is why we have decided to close reception desks in our branches (except the Geneva Cornavin branch) and to encourage remote advice meetings.

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