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Íslandsbanki lowers interest rates on housing and car loans

Íslandsbanki’s interest rates will change effective 1 July 2019, following this morning’s policy rate decision by the Central Bank of Iceland’s Monetary Policy Committee.

  • Interest on variable-rate non-indexed mortgage loans will decline by 0.25 percentage points.
  • Interest on Ergo motor vehicle loans and contracts will decline by 0.25 percentage points.

In most instances, the Bank’s variable deposit rates will decline by 0.10-0.25 percentage points, and the base lending rate will decline by 0.10 percentage points. No changes will be made to indexed mortgage lending rates.