Lands­bankinn changes in­terest rates

Landsbankinn changes deposit and lending rates tomorrow, Friday 10 November.

The main changes are as follows:

Deposit rates

• Interest rates on inflation-indexed Landsbók savings accounts increase by 0.40-0.50 percentage points (pp).
• Interest rates on inflation-indexed Framtíðargrunnur, Fasteignagrunnur and Lífeyrisbók savings accounts increase by 0.50 pp.

Lending rates

• Variable interest rates on inflation-indexed housing mortgages increase by 0.35 pp, to 3.50%.
• Fixed rates on new 60-month inflation-indexed housing mortgages increase by 0.50 pp.
• Prime interest rates on inflation-indexed loans increase by 0.50 pp.
• Rates on new, non-indexed housing mortgages with interest rates fixed for 36 and 60 months decrease by 0.20 pp.

The new interest rate tariff enters into effect on Friday, 10 November 2023. 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.

How will this affect my loan?

If a loan (consumer loan or real estate loan to consumers) carries a variable interest rate, the change enters into effect 30 days after the interest rate notification. Interest on loans that carry a fixed rate do not change during the fixed rate period.