Compounded SARON Rates: 1M, 3M, 6M & 12M
Daily compounded SARON over 1, 3, 6 and 12 month interest periods, calculated in arrears from official SARON fixings.
| Date | SARON | 1 Month SARON | 3 Month SARON | 6 Month SARON | 12 Month SARON |
|---|---|---|---|---|---|
| 15 Jul 2026 | -0.04382% | -0.03853% | -0.04150% | -0.04531% | -0.04455% |
| 14 Jul 2026 | -0.04272% | -0.03832% | -0.04151% | -0.04540% | -0.04457% |
| 13 Jul 2026 | -0.03842% | -0.03831% | -0.04157% | -0.04555% | -0.04457% |
| 10 Jul 2026 | -0.03830% | -0.03828% | -0.04180% | -0.04630% | -0.04461% |
| 09 Jul 2026 | -0.03801% | -0.03824% | -0.04187% | -0.04634% | -0.04463% |
| 08 Jul 2026 | -0.03846% | -0.03821% | -0.04195% | -0.04658% | -0.04464% |
| 07 Jul 2026 | -0.03823% | -0.03812% | -0.04200% | -0.04682% | -0.04465% |
| 06 Jul 2026 | -0.03826% | -0.03812% | -0.04200% | -0.04699% | -0.04461% |
| 03 Jul 2026 | -0.03818% | -0.03821% | -0.04213% | -0.04802% | -0.04466% |
| 02 Jul 2026 | -0.03796% | -0.03831% | -0.04217% | -0.04807% | -0.04467% |
As of , compounded SARON (in arrears) is -0.03853% over one month, -0.04150% over three months, -0.04531% over six months and -0.04455% over twelve months.
Compounded in arrears with no lookback, Actual/360 day count and unshifted accrual calendar, consistent with Swiss market conventions.
Compounded SARON Chart
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“I do debt service forecasting for any of the facilities where we have floating rate exposure… I like this option to just pull the forward curve monthly or quarterly going out.”
That's what the last period cost. See where it's heading.
Compounded SARON tells you what an interest period has already cost. Forward rates imply the path of future fixings: what your next period is likely to cost, straight from today's market pricing.
See the SARON forward curveCompounded SARON in Excel & API
If you're rebuilding this table in a spreadsheet every month-end, you don't need a rate, you need a feed. One function, official fixings, straight into your accrual model.
// Excel: any day's 3M compounded SARON in a cell =BlueGamma.FIXING("3M COMPOUNDED SARON", accrual_date) # API: the same rate, one GET away GET api.bluegamma.io/v1/fixing ?index=3M COMPOUNDED SARON&valuation_date=YYYY-MM-DD x-api-key: your_api_key
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FAQs
A backward-looking interest rate calculated by compounding the daily Swiss Average Rate Overnight (SARON) in arrears over an interest period such as 1, 3, 6 or 12 months. It represents the realised cost of that period and is the standard reference for CHF floating-rate loans and derivatives in Switzerland since the end of CHF LIBOR.
Daily SARON fixings are compounded in arrears over the interest period with a 0-day lookback, so compounding starts on the actual start date of the accrual period. The day count is Actual/360, the standard for the Swiss Franc money market, and if the period starts on a weekend or holiday the preceding business day’s fixing applies for those stub days.
Checking compounded interest between two exact dates? Use our free Risk Free Rate Calculator.
CHF LIBOR was a forward-looking term rate — an estimate of future borrowing costs, known at the start of the period. Compounded SARON is backward-looking, based on realised overnight activity, and the final rate is known only at the end of the period. SARON replaced CHF LIBOR as the Swiss reference rate at the end of 2021.
No. Unlike the US market, which has a forward-looking Term SOFR derived from futures, the Swiss market relies on compounded SARON for longer-term contracts. Published “SARON Compound Rates” for specific tenors are backward-looking averages, not forward-looking forecasts.
For the market-implied path of SARON, see the SARON forward curve.
More on SARON
SARON Forward Curve
The market-implied path for SARON: live forward curve, charted and downloadable.
Risk Free Rate Calculator
Compound SARON over the exact start and end dates of your interest period.
CHF Swap Rates
Live and historical SARON swap rates across all liquid tenors.
Swiss Government Bond Yields
The Eidgenossen yield curve: live Swiss government bond yields across maturities.