Vehicle loans


Sim­pli­fy your car pur­chase

We fund up to 80% of pur­chase price for up to 8 years and of­fer a 50% dis­count on bor­row­ing charges un­til 10 July. 

Support the energy transition

Electric cars are an important part of the energy transition. They produce less emissions and are more economical to operate. Buyers of electric vehicles enjoy our lowest borrowing charges and better financing terms.

Lending fees


Interest on electric cars

discount in percentages

It's easy to complete your credit assessment online

Log in with your electronic ID to authorise the Bank to collect the data required for the credit assessment. Married and cohabiting couples are assessed together, so both parties must have electronic ID.

Electronic identification
Data collected
Credit assessment prepared
Criteria confirmed
Credit assessment completed

When is a credit assessment necessary?

A credit assessment is only necessary if the loan amount exceeds ISK 2,700,000 for an individual or ISK 5,400,000 for a married or cohabiting couple.


How do I apply for a vehicle loan?

You find the car that's right for you and we'll help you find the right financing. Car dealerships and salespeople can apply electronically once you have selected a car.


How old can the car be?

The older the car, the shorter the maximum loan term. The combined loan term and age of the car may not exceed 12 years. The car may not be more than 9 years old.

Maximum financingMaximum loan termMaximum age of vehicle
The combined age of the car 
and the loan term may not 
exceed 12 years.

The com­bined age of the car
and the loan term may not
ex­ceed 12 years.

80%8 years9 years
Recreational vehicles
The combined age of the 
recreational vehicle and loan term 
may not exceed 10 years.

Re­cre­ation­al vehicles
The com­bined age of the
re­cre­ation­al vehicle and loan term
may not ex­ceed 10 years.

75%8 years9 years
Motorcycles and snowmobiles
Maximum loan term 
of up to 5 years
minus the age of the vehicle.*

Mo­tor­cycles and snow­mobiles
Max­imum loan term
of up to 5 years
minus the age of the vehicle.*

70%5 years5 years

* We do not grant loans secured by off-road or racing vehicles or any vehicles intended for off-road use. Contact us or check your credit limit in the app.


Join our group of satisfied customers

Applying for access to online banking and the app, creating an account and getting a debit card is a matter of minutes.


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