How do I register for regular card savings?

To start saving with a payment card, go to "Credit Card" in online banking and then select “Card Savings”. Then select your savings plan: Each transaction is rounded up to the next ISK 100, 500 or 1,000, and the difference is credited to your savings account. Each transaction is increased by a fixed amount - ISK 100, 250, 500 or 1,000 - which is then credited to your savings account. You shop as usual. We calculate the savings and deposit the amount into your selected savings account. Simple and convenient. Note that it is not possible to save using a card with an overdraft.

Savings

Let’s grow your savings

Savings are always good to have. Setting saving goals can be part of planning for the future, milestones, repairs or housing purchase.

Online banking

Book a consultation

Welcome to your savings consultation!

Together we’ll find the savings plan that’s best for you. You can book a consultation for whenever is best for you.

Book a consultation

Asset diversification reduces risk

Saving in funds allows you to spread your risk and increases your chances of good returns on your savings.

Returns based on sustainability

With sustainable savings, you can make an impact by allocating your savings to projects and investments that support sustainability.

What’s the best account for you?

We offer a selection of accounts tailored to different needs. Creating an account in online banking only takes a couple of minutes.

It’s simple to start saving

With regular savings in online banking, you don’t have to remember to put funds aside. The amount doesn’t need to be large - small contributions grow quickly.

Saving in the app is easy and convenient

It’s easy to start saving in the app. Set a goal, decide on an amount and time limit, and the app calculates how much you need to set aside each month to reach your target. You can save up by yourself or towards a joint goal with family or friends.

Save in app

Automatic transfers

You decide on an amount, when to make transfers and select a savings account. The transfer is made automatically each month.

Save with regular transfers

Monthly fund subscription

With a monthly subscription to a fund, no purchase fee is charged and you get a discount on the transaction fee. The minimum amount for monthly subscription is ISK 5,000.

Save with a fund subscription

Card savings

How about paying into your savings every time you use your debit or credit card? You can round up each transaction by a set amount, or to the nearest hundred or thousand.

Card savings

A shared view on finances

In the app, you can choose to let others view your finances or authorise them to perform basic transactions on your behalf, depending on what works best for you and those closest to you. It’s just as easy to cancel these access authorisations.

Access authorisation

Calculate savings

Calculate the amount you need to set aside each month, for how long, or how much your savings will amount to at the end of a period. The calculations are based on monthly interest payments.

Initial amount

ISK

Estimated return in %

Monthly amount

ISK

Time

mon.

Savings at end of period

24,703 kr.

Savings consultation

Unsure which savings plan to choose? We are always here to help and go over the savings plans we offer. You can book a consultation for whenever is best for you.

Key information about pension savings

In Iceland, all wage earners aged 16 to 70 are obligated to pay a percentage of their wages toward mandatory pension savings.

Moving to Iceland and need a bank account?

Creating a bank account is not complicated, even if you’re new to Iceland. To become a customer of an Icelandic bank, you first need an Icelandic identification number - kennitala. If you do not have an Id.No., your first step is to apply for one with Registers Iceland. The website of Registers Iceland, skra.is, has all information about how to apply.

Points to consider before withdrawing private pension savings

The authorities have granted temporary dispensation to withdraw private pension savings (also referred to as supplementary pension savings) as a measure to assist individuals who suffer loss of income due to the Covid-19 pandemic.

FAQ

To start saving with a payment card, go to "Credit Card" in online banking and then select “Card Savings”.

Then select your savings plan:

Each transaction is rounded up to the next ISK 100, 500 or 1,000, and the difference is credited to your savings account.
Each transaction is increased by a fixed amount - ISK 100, 250, 500 or 1,000 - which is then credited to your savings account.

You shop as usual. We calculate the savings and deposit the amount into your selected savings account. Simple and convenient.

Note that it is not possible to save using a card with an overdraft.

For ages 9-12

It’s never too early to start saving

Mandatory pension savings

Increased private pension savings and more flexibility

Supplementary pension savings

Supplementary pension savings are a salary increase

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.

Become a customer

Savings

Let’s grow your sav­ings

Welcome to your savings consultation!

It’s simple to start saving

Saving in the app is easy and convenient

Automatic transfers

Monthly fund subscription

Card savings

A shared view on finances

Calculate savings

Savings consultation

FAQ