Simple Save

Simple Save is an indexed savings account where a longer lock-in period means higher interest.

Next steps

You can use Íslandsbanki Online Banking to apply for a Simple Save account.

Main benefits

  • No fees or royalties

  • The interest rate rises with a longer lock-in period

  • Interest paid monthly

  • Non-indexed savings account

You choose the lock-in period

We offer three different lock-in periods and the lock-in period dictates the interest rate. A longer lock-in period means higher interest.


Lock-in period

Interest rate

Simple save 36

3 years


Simple save 48

4 years


Simple save 60

5 years


Why choose Simple Save?

The longer the lock-in period, the higher the interest. If you are looking for a savings account where you can adjust the interest, then this is the account for you. The money becomes available one month at a time, every six months, once the lock-in period is complete. Each deposit is locked-in for a period that suits you.

Calculate your savings

Your deposit

Savings period