20 March 2025
Landsbankinn changes deposit and lending rates and the new interest rate tariff enters into effect on 27 March 2025. The main changes are as follows:
Lending rates
- Variable interest rates on non-indexed housing mortgages decrease by 0.25 percentage points (pp).
- Prime interest rates on non-indexed loans decrease by 0.25 pp.
- Overdraft rates decrease by 0.25 pp.
Deposit rates
- Interest rates on non-indexed current accounts decrease by 0.25 pp.
- Interest rates on non-indexed savings accounts decrease by 0.25 pp.
- Interest rates on fixed-rate accounts decrease by up to 0.25 pp.
These changes follow the decision of the Central Bank of Iceland on 19 March, when the CBI lowered its key interest rate by 0.25 pp.
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.
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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