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Old 21.01.2008, 00:09
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Pillar 3 account with Mortgage bank

I recently took out a mortgage with the Kantonalbank. Part of the repayment vehicle is through a Pillar 3 account.

To what extent do I need to have that account with the Kantonalbank versus proving I'm making the appropriate provision/investments elsewhere.

ZKB pays 2% whereas others go to 2.5 or even 3.

Thanks in advance.
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Old 22.02.2008, 02:02
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Re: Pillar 3 account with Mortgage bank

hi magyir,
1st: doing your repayment with a 3rd pillar (I guess we are talking about the 2nd mortgage) is the best way of saving taxes
2nd: if there is nothing else written in your mortgage contracte you can switch to another bank... but probably one year later the old bank pays more interests...
3rd: THE BIG QUESTION IS (AS WELL TO THE BANK): WHY THE HELL A THREE PILLAR ACCOUNT? COULD YOU PAY IT IF YOU WOULD BE DISABLED? WHICH SECURITY HAS YOUR WIFE (OR FAMILY) IN CASE OF DISABILITY OR DEATH? WHY THE HELL DID THE BANK SELL YOU THIS ACCOUNT?
4th: Did you know that you will get more security (for your bank and your family) and after all much more % with a life insurance in your case? Did anybody inform you about that?
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