Swissquote Bank Europe review

The rate is fixed and quoted as 1.5% to 2.47%, a range rather than a single figure. The median headline rate across savings products here is 3.06%, so this range sits below the middle of the market. Terms are short and interest is paid at maturity.

A placement starts at €100,000, which ranks 379 of the 379 brands compared on minimum deposit. That figure sits at the top of the range, so the product is aimed at balances set aside for a term rather than monthly saving habits.

Balances are covered by EU DGS up to EUR 100,000. That is the deposit guarantee ceiling quoted for money held at this bank, so anything placed within it sits inside the EU scheme. Larger balances sit above the quoted limit, which is worth checking against the terms before placing a large sum.

The account fee is €0, so there is no monthly charge for holding it. Cost therefore comes down to the rate earned, quoted at 1.5% to 2.47%, and to how long the placement runs. A fixed product like this suits balances that are not needed before maturity.

Placements run 1 to 12 and interest is paid on maturity rather than monthly. The value date sits a short settlement period after you place the money, so funds are not credited instantly. A saver comfortable leaving the balance alone until maturity is the natural fit.

It suits euro balances large enough to clear a €100,000 minimum and hold them for a fixed term. Investors who already keep cash alongside a trading platform may value a set return and a €0 fee. Savers building a monthly habit from a small balance will find the threshold out of reach.

Support runs through help centre, which means self-service answers rather than a direct line to a person. On a large fixed placement, questions about value dates and maturity payments may need patience. Many savings rivals list a phone channel, at 80.2% of the ranking.

It is a Luxembourg bank authorised and supervised by the Commission de Surveillance du Secteur Financier, under the oversight of the European Central Bank. Deposits made through its money market product are quoted with EU DGS up to EUR 100,000, so the protection sits behind the same supervision.