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Íslandsbanki cuts interest rates

Íslandsbanki’s interest rates will change effective 11 June 2019, following the policy rate decision by the Central Bank of Iceland’s Monetary Policy Committee.

  • Interest on fixed-rate non-indexed mortgage loans with maturities of 36 and 60 months will decline by 0.50 percentage points.
  • Interest on variable-rate non-indexed mortgage loans will decline by 0.25 percentage points.
  • Interest on variable-rate indexed mortgage loans will decline by 0.10 percentage points.
  • Interest on fixed-rate indexed mortgage loans will decline by 0.10 percentage points.
  • Interest on other variable-rate non-indexed base-rate loans will decline by 0.25 percentage points.
  • Interest on Ergo motor vehicle loans and contracts will decline by 0.50 percentage points.

In most instances, the Bank’s variable deposit rates will decline by 0.20-0.30 percentage points.