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.

  • Higher interest rate with longer lock-in period.

  • Interest paid monthly.

  • 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


Interest subject to current interest table*

Why choose Simple Save?

The longer the lock-in period, the higher the interest. Each deposit is locked in for a chosen period and can be withdrawn for a period of one month after the lock-in period is over. The money becomes locked-in once again after the one month open withdrawal period and can then be withdrawn with three months’ notice.

Further information and Terms

Calculate your savings

Your deposit

Savings period