Question 1

Commission and taxes

Accepted Answer

The Bank does not collect any service fees, redemption fees or commission. Capital income tax is deducted from interest payments each time.

Question 2

Deposits and withdrawals

Accepted Answer

The account is always open for deposits and there is no minimum deposit. A withdrawal request must be made through Íslandsbanki's online bank and the transfer will be made 31 days later. The money can be deposited into another account with the same ID number. Withdrawals from the account can only be made by transferring the amount into another Íslandsbanki account owned by the same person. .

Question 3

General Terms and Conditions

Accepted Answer

The account is a non-indexed, stepped interest, variable rate account. The Terms and Conditions of the account are subject to the Bank's decision at any given time. Information on the terms of the account can be found in the Bank's interest table. Otherwise, the general terms and conditions of deposit accounts apply.

Question 4

Interest period

Accepted Answer

When you open the account, you will be asked to choose another account to receive the interest from your Interest Rise 30 account, which becomes available for withdrawal at the beginning of each month. The interest period is from the first day of the month to the last day of each month. Interest is paid into the chosen account at the end of each month.

Question 5

Lock-in period

Accepted Answer

The lock-in period is valid until the first withdrawal request is made and the money will be transferred 31 days later. The lock-in period is therefore a minimum period of 31 days.

Question 6

More info

Accepted Answer

The creation and handling of an account is, in addition to the afore-mentioned Act on Anti-Money Laundering and Anti-Terrorist Financing measures against money laundering, subject to the Legal Competence Act and other provisions of the law that deal with the handling of Legal Entities, as applicable at any given time. Any payment difficulties experienced by commercial banks, savings banks and securities companies are guaranteed by the Depositors' and Investors' Guarantee Fund. Further information on what is covered can be found on the fund's website.

Question 7

Opening an account

Accepted Answer

You can open an account at one of our branches, on our website or through the online bank. Both individuals and legal entities can open an Interest Rise 30 Account and parents/guardians can open an account for those underage.

Interest Rise 30

Next step

Main benefits

Stepped interest

Why choose Interest Rise 30?

How can I withdraw from my account?

Savings calculator for Interest Rise 30

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Further information and Terms

Want to know more about savings?

Have a look at our interest rates

Regular savings

Private Pension Plans