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Changes to Íslandsbanki’s interest rates 

Changes come into effect on the 22nd of October

Íslandsbanki has changed its interest rates following the Central Bank of Iceland’s announcement on the 6th of October, raising the Bank's interest rates by 0.25 percentage points (pp). 

Fixed rates on non-indexed mortgages remain unchanged.  

Changes to the Bank’s interest rates: 

  • Variable interest rates on non-indexed mortgages increased by 0.15 pp 
  • Non-indexed prime lending rates increased by 0.20 pp 
  • Overdraft rates (personal & business) increased by 0.25 pp 
  • Ergo’s variable non-indexed interest rate increased by 0.25 pp 
  • Variable non-indexed interest rate on deposits increased by anything up to 0.25 pp or remain unchanged 

Changes to loans as per the Act on Consumer Loans or the Act on Mortgage Lending to Consumers come into effect as per their Terms and Conditions and notifications to that effect