4 October 2024
Landsbankinn announce changes to deposit and lending rates effective as of Wednesday 9 October 2024. The main changes are as follows:
Lending rates
- Variable interest rates on non-indexed housing mortgages decrease by 0.25 percentage points (pp), to 10.50%.
- 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 0.10-0.25 pp.
- Interest rates on non-indexed savings accounts decrease by 0.10-0.25 pp.
- Interest rates on foreign currency accounts change to reflect the policy rate and market rates in the respective currency.
These changes follow the interest rate decision of the Central Bank of Iceland from 2 October, when the CBI lowered the policy rate by 0.25 pp. Interest rate changes also have regard for market rates and other financing terms of Landsbankinn.
Changes to lending rates 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 rates on payment accounts governed by the Act on Payment Services enter into effect with two months’ notice in accordance with the terms and conditions of the respective accounts.
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