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- Forsíða

Landsbankinn lowers interest rates

Landsbankinn has recently established itself as the financial undertaking that offers the most competitive lending rates in Iceland. Since the Central Bank of Iceland embarked on the current rate-cutting programme, Landsbankinn has generally lowered lending rates more than deposit rates.

Variable interest rates on non-indexed housing mortgages decrease by 0.50 percentage points. Fixed rates on non-indexed housing loans decrease by 0.50 pp and rates on inflation-indexed housing loans decrease by 0.30 pp.

Premium rates on non-indexed loans decrease by 0.50 pp and premium rates on inflation-indexed loans decrease by 0.30 pp. Interest on non-indexed vehicle and equipment financing loans decrease by 0.05 pp. Overdraft interest rates decrease by as much as 0.75 pp.

Deposit interest rates decrease by 0.05 - 0.75 pp.

A new interest rate tariff enters into effect on 1 June and will contain more detailed information.

Landsbankinn most recently lowered interest rates on 14 April, mostly to reflect the cut in the bank levy.

Forsíða - 30 June 2020 01:16 PM

Calculation of financial income tax on currency gains withheld at source

It is quite common to invest part of savings in accounts in foreign currencies. When the Icelandic króna (ISK) depreciates, currency gains accrue to these accounts and the Bank is obligated to withhold a 22% financial income tax on such gains.


Weekly bulletin - 29 June 2020 09:56 AM

Icelandic Economic Weekly: Monday 29 June 2020

The CPI based on prices in June increased by 0.44% MoM. Statistics Iceland expects the GDP to decrease by 8.4% in 2020. Unemployment in May was 9.9%, according to Statistics Iceland's labour force survey. The CBI released its quarterly Economic Indicators.


Forsíða - 23 June 2020 12:37 PM

Applications for Landsbankinn's Reykjavík Culture Night fund now open

This year, Reykjavík Culture Night will be celebrated in a different form to avoid overly large gatherings, in accordance with Covid-19 guidelines from the Civil Protection Authorities. The festival will take place over a 10-day period, 13-23 August.