SARON Mortgage
Flexible interest rates with savings potential
Die gehört heute zu den wichtigsten in der Schweiz. Im Gegensatz zur profitieren Sie bei der SARON-Hypothek direkt von den aktuellen Marktzinssätzen – mit Chancen auf tiefere Kosten. Sollten die steigen, zahlen Sie aber sofort auch höhere Hypothekarzinsen.
SARON Hypothek
Eine Saron-Hypothek ist eine geldmarktbasierte Hypothek mit variablem Zinssatz. Sie eignet sich vor allem für Kreditnehmer, die Zinsschwankungen tragen können und von transparenten, kurzfristigen Marktzinsen profitieren möchten. Mehr dazu auch hier: Festhypothek oder Saron-Hypothek?Saron-Hypothek abschliessen und später in Festhypothek wechseln?
Ein Hypothekarmodell beschreibt die Art der Zinsgestaltung und Laufzeit einer Hypothek, etwa Festhypothek,SARON-Hypothek oder variable Hypothek. Transparente Modelle erleichtern den Vergleich und helfen, Zinsrisiko und Planungssicherheit bewusst zu steuern. Hier gibt's mehr Informationen zu Hypotheken mit langen Laufzeiten: Festhypothek mit 10 Jahren Laufzeiten
A fixed-rate mortgage is a mortgage with a fixed interest rate over an agreed term. This means that mortgage interest rates remain unchanged throughout the entire term, providing planning security regarding financing costs. Fixed-rate mortgages are among the most popular types of mortgages in Switzerland. Learn more here: Fixed-rate mortgages in Switzerland
Definition
SARON Mortgage
A SARON mortgage is based on the (Swiss Average Rate Overnight).
This means:
- The interest rate continuously adjusts to the market
- The SNB key interest rate is the main determining factor
- There is no long-term fixed interest rate
- Interest costs on SARON mortgages typically fluctuate significantly
In short: Flexible, market-driven, and often cheaper—but less predictable and therefore riskier than a fixed-rate mortgage.
SARON ist ein Schweizer Referenzzinssatz, der auf Transaktionen am Geldmarkt basiert. Er dient als Grundlage für SARON-Hypotheken und macht die Zinsberechnung transparenter als ältere Referenzzinssysteme.
Calculation
Effective interest rate
The effective Mortgage interest consists of two components:
- dem durchschnittlichen SARON-Zinssatz über eine Periode
- einer fixen Marge des Kreditgebers (im Vertrag vereinbart)
Important to know
- The margin remains constant throughout the term of the contract
- The reference interest rate changes continuously
- The actual interest costs are only known in retrospect
In practice, interest is usually calculated and charged quarterly based on a backward-looking average . This clearly distinguishes the SARON mortgage from a fixed-rate mortgage, where the costs are determined in advance.
You can find more information about SARON here
SARON calculator from SIX | Information from SIX about SARON
Der Compounded SARON ist ein Referenzzinssatz für SARON-Hypotheken in der Schweiz. Er basiert auf dem durchschnittlich aufgerechneten SARON-Zinssatz über eine bestimmte Zinsperiode und bildet die Grundlage für die Berechnung der aktuellen Hypothekarzinsen in der Schweiz bei SARON-Hypotheken.
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Informationen zu den besten Hypothekarzinsen von HYPOTHEKE.ch
Die Zinsen auf unserer Hypothekenplattform werden von unseren Finanzierungspartnern stündlich aktualisiert. Die hier angezeigten «ab Zinsen» / Top-Zinsen werden von mindestens einem Anbieter auf HYPOTHEKE.ch angeboten. Es handelt sich um den aktuell bestmöglichen Hypotheken-Zinssatz. Die individuellen und abschlussfertigen Zinsen hängen von verschiedenen Parametern wie Belehnung, Tragbarkeit, Immobilienwert, Region und anderen Faktoren ab und können von den hier angezeigten Zinsen abweichen.
Visualization
How the calculation works
You won’t know the actual interest rate on a SARON Mortgage until the end of the interest rate period. This is because the SARON is recalculated daily and changes constantly.
That is why interest rates are not determined in advance but calculated retroactively.
Note
The calculation of SARON interest rates may vary slightly depending on the provider. Differences primarily arise in the time frame considered for the interest period. The effective interest rates are always determined retrospectively, as the SARON fluctuates daily. Therefore, this chart may differ from your specific contract.
Pros and cons
What you need to know
Benefits of a SARON Mortgage
Disadvantages of the SARON Mortgage
Facts or gut feeling?
People who take out a SARON Mortgage often do so based on gut instinct—because reliable information and facts are rarely publicly available. With this video, we want to change that so that you can make your decision not just based on gut instinct, but on a solid foundation of data and facts.
YouTube channel: @HYPOTHEKE
Florian Schubiger
Founder of HYPOTHEKE.ch
An Overlooked Detail
Framework Agreement for SARON Mortgages
SARON mortgages are usually taken out with a lasting 2 to 5 years. The is fixed for the term; switching providers is virtually impossible, and in the event of early termination—just like with a Fixed-rate mortgage—a . This means that even a SARON Mortgage is not entirely flexible.
Die Marge bei SARON-Hypotheken ist der feste Zuschlag, den Banken oder andere Kreditgeber auf den SARON-Referenzzinssatz verrechnen. Die effektiven Hypothekarzinsen setzen sich aus dem Compounded SARON und dieser individuellen Marge zusammen. Die Höhe der Marge hängt unter anderem von Bonität, Belehnung und Anbieter, sowie der Verhandlungsstärke des Kreditnehmers ab. Die Saron-Marge ist beim Entscheid Saron-hypothek oder Festhypothek ein wichtiges Kriterium.
Eine Vorfälligkeitsentschädigung fällt an, wenn eine Hypothek mit fester Laufzeit vorzeitig aufgelöst wird. Die Kosten können hoch sein und hängen meist von Restlaufzeit, aktuellem Zinsniveau, vereinbartem Zinssatz und Gebühren des Anbieters ab. Es gibt auch Festhypotheken, die man kostenlos vorzeitig auflösen kann.
Good question
Switch to a Fixed-rate mortgage?
While many providers do allow you to switch to a Fixed-rate mortgage within the term, this sounds attractive but comes with a catch: You generally have to stay with the same provider, which rules out genuine competition and usually results in significantly worse terms than if you were to switch providers entirely.
Switching is possible—but rarely ideal and usually expensive.
Basic guidelines for making a decision
SARON or Fixed-rate mortgage?
SARON Mortgage
If you’re flexible and can handle significant interest rate fluctuations, then a SARON Mortgage might be a good option for you.
Fixed-rate mortgage
If you want security and predictable costs, you should opt for a fixed-rate mortgage.
Key point
If a short-term fixed-rate mortgage is cheaper than a SARON mortgage, the fixed-rate mortgage is often the better choice.
SARON or fixed-rate mortgage?
The basics you need to make your decision, all on one page.
Entscheiden Sie sich: Festhypothek oder SARON-Hypothek?
Target audience
Who is the SARON Mortgage suitable for?
The SARON mortgage is ideal for risk-conscious homeowners with a financial cushion, for buyers with a short-term planning horizon, and for anyone who expects key interest rates to fall in the short to medium term. Most importantly, you should be able to handle interest rate fluctuations without any financial or emotional strain.
It pays to compare providers
Die Unterschiede zwischen den Anbietern sind erheblich – sie betreffen die Margen, die Vertragsbedingungen und die jeweiligen Modelle bei der Zinsberechnung. Hier geht's direkt zum Hypotheken-Zinsvergleich.
Conclusion
Flexible, but not without risk
The SARON Mortgage offers the advantages of often lower long-term interest rates, close market alignment, and flexibility due to shorter contract terms. However, this comes with significantly higher interest rate risks, less planning certainty, and limited options for switching providers. The right choice depends on your risk tolerance and your financial situation.
Frequently Asked Questions
Answers about the SARON Mortgage
Over longer periods, SARON mortgages are often slightly cheaper than fixed-rate mortgages, as short-term interest rates are usually lower than long-term rates. However, this depends heavily on when—or during which interest rate cycle—you take out the SARON mortgage. It is therefore impossible to say definitively which mortgage loan model is cheaper overall.
Mehr dazu hier: Fest- oder SARON-Hypothek, was ist besser?
The SARON is calculated daily. For mortgages, however, an average over an interest period (for example, 1 or 3 months) is usually used, since interest is typically billed on a quarterly basis.
Interest is generally paid in arrears—that is, at the end of an interest period, often quarterly. The SARON interest rate plus the margin agreed upon with the mortgage lender is charged.
The biggest risk is a rise in mortgage rates. If the SARON rises, your mortgage rates will also increase, and with them your costs. Experience shows that this can happen very quickly. A typical period of rising interest rates usually lasts about three years. Interest rate hikes generally do not last longer than five years.
A SARON mortgage is suitable for people:
- with financial reserves
- with a higher risk tolerance
- who want to take full advantage of the improved interest rate environment amid generally falling rates
A framework agreement specifies the term (usually 2–5 years) and the margin. During this period, switching providers is not restricted. There are also SARON mortgages without a fixed term.
Yes, many providers allow you to switch. In some cases, switching involves costs. However, you usually have to stay with the same provider, which limits competition and can significantly increase interest rates depending on the provider (weak bargaining position).
In practice, the SARON is often capped at 0%. This means you pay at least the bank’s margin and do not benefit from negative interest rates. When interest rates are negative, this is a major disadvantage of the SARON Mortgage.
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