News

Lands­bank­inn changes in­t­erest rates

24 November 2021

Variable interest rates on non-indexed housing mortgages increase by 0.35 percentage points (pp). Fixed rates on non-indexed 36-month housing mortgages increase by 0.30 pp and fixed rates on non-indexed 60-month housing mortgages by 0.25 pp. Interest rates on inflation-indexed housing mortgages, both variable and fixed, are unchanged.

Variable interest on non-indexed housing mortgages remain unchanged at 4.20%. Lowest fixed rates on non-indexed housing mortgages will be 4.65%.

Prime rates on non-indexed lending increase by 0.35 pp while prime rates on inflation-indexed lending are unchanged. Variable rates on non-indexed vehicle and equipment financing loans increase by 0.35 pp. Overdraft rates increase by 0.50 pp.

Interest on non-indexed savings accounts increase by up to 0.50 pp, interest on fixed rate accounts increase by 0.50 pp and interest on general current accounts increase by 0.05 pp.

This interest rate decision of Landsbankinn follows the rate hike of the Central Bank of Iceland on 17 November, when the CBI raised rates by 0.50 pp. Interest rate changes also have regard for market rates and other financing terms of the Bank.

Landsbankinn's new interest rate tariff enters into effect on Thursday, 25 November 2021. Changes to interest on loans governed by the Act on Consumer Loans or the Act on Mortgage Lending to Consumers enter into effect in accordance with notifications sent to customers in online banking.

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