7 February 2025
Landsbankinn changes deposit and lending rates and the new interest rate tariff enters into effect on 13 February 2025.
Lending rates
- Variable interest rates on non-indexed housing mortgages decrease by 0.50 percentage points (pp).
- Prime interest rates on non-indexed loans decrease by 0.50 pp.
- Overdraft rates decrease by 0.50 pp.
- Three-year fixed interest rates on new non-indexed housing mortgages decrease by 0.10 pp.
- Five-year fixed interest rates on new non-indexed housing mortgages decrease by 0.20 pp.
Deposit rates
- Variable interest rates on non-indexed current accounts decrease by 0.50 pp.
- Variable interest rates on non-indexed savings accounts decrease by 0.50 pp.
- Interest rates on foreign currency accounts change for the most part in accordance with changes to policy rates and market rates for the relevant currency.
These changes follow the decision of the Central Bank of Iceland on 5 February, when the CBI lowered its key interest rate by 0.50 pp. The interest rate changes also have regard for market rates and other financing terms of Landsbankinn.
Changes to interest rates 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.
Changes to interest on payment accounts governed by the Act on Payment Services enter into effect with two months’ notice in accordance with the terms and conditions for such accounts.
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