Shorter fixed term and high­er in­terest on in­fla­tion-in­dexed sav­ings

Fjölskylda í sumarbústað
1 June 2023

Landsbók is an inflation-indexed account suited to customers looking for the best method of maintaining the value of their savings.

We now offer a shorter fixed term on deposits to inflation-indexed account Landsbók, or 11 months instead of three years previously, and pay out deposits 31 days after withdrawal orders. Following the 11-month fixed term, deposits are always free for withdrawal with 31 days’ notice.

Inflation has been 9.5% in the past 12 months. By depositing your savings to an inflation-indexed account, you receive indexation that corresponds with inflation. In addition to inflation indexation, Landsbók currently carries 0.55% interest, making it the most favourable among comparable accounts with other institutions.

We are also shortening the waiting period for withdrawals from other inflation-indexed savings accounts, from three months to 31 days.

These changes are connected to amendments to rules that enter into effect on 1 June 2023 and provide that deposits to inflation-indexed savings accounts must no longer be restricted for a minimum of three years.

Landsbók is available to both individuals and businesses.

It’s easy to open a Landsbók account in the app and online banking.

More about Landsbók (Icelandic)

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