Kjörbók is a non-indexed account and ideal for persons who wish to deposit small amounts for a short time.
Main advantages of Kjörbók
Foreign currency savings accounts (FX accounts) are intended for customers who wish to receive interest on their funds in foreign currencies. The accounts are suited to customers engaged in FX business transactions and who can tolerate currency risk.
Withdrawals in foreign bills are subject to a 1.75% fee to cover the Bank’s cost of handling foreign bank notes.
The Vaxtareikningur premium rate account is not inflation-indexed, deposit for a shorter or longer period without a long-term commitment.
The interest paid on Vaxtareikningur accounts increases depending upon the balance:
Vaxtareikningur 30 is a non-indexed savings account where the interest rate rises in increments, depending on the account balance.
The entire balance on the account is locked-in with no fixed final date. Withdrawals may be made 31 days after submitting a withdrawal request, i.e. 30 days must elapse between the date the request is made and the date the funds will be available. When requesting a withdrawal the customer states the account to which the funds are to be paid.
Vaxtareikningur 30 is suitable for persons who can wait 30 days for funds to be available after a request for withdrawal is made.
Vaxtareikingur 30 accounts can be opened at any Landsbankinn branch and requests for withdrawals made by phone to Landsbankinn's Customer Service Centre, tel. 410 4000.
Vaxtareikningur 30 savings account bears interest depending on the account balance:
The Varðan 60 seniors' premium rate account is intended for members of Landsbankinn loyalty plan (Varðan), aged 60 years and older. It is not inflation-indexed and pays a high rate of interest.
Customers can have regular savings of a minimum of ISK 500 monthly made to Vaxtareikningur accounts.
A Sparireikningur savings account is non-indexed and always bears good interest. The account is well suited for regular savings, offering two options for savers. Firstly, a regular deposit plan, under which the entire amount deposited into the account is free for withdrawal one month after the term of the deposit has elapsed. Secondly, an individual deposit plan, where each individual deposit is locked in for the term period and free for withdrawal after that.
Withdrawals can be made before the term has elapsed, but a withdrawal charge is then calculated depending upon the interest rate, which is deducted from accrued interest. If the withdrawal charge is higher than the accrued interest the difference is deducted from the amount disbursed.
The Framtíðargrunnur savings account is intended for persons wishing to create a fund for their children when they grow up. The balance accumulated can be withdrawn when a child turns 18 years of age. The interest rate is the highest currently paid on savings accounts, making it an excellent choice for long-term savings.
Accounts can be inflation-indexed or non-indexed. In choosing which option you prefer, bear in mind the following points:
Landsbók savings accounts offer a simple and secure way to earn high interest on your savings with the security of inflation-indexation.
For interest rates, see Landsbankinn's current tariff.
Fastvaxtareikningur is a non-indexed savings account. The account is suited to both individuals and companies prepared to save under a term deposit of up to five years.
Designed to meet the needs of customers wishing to set aside funds to purchase housing.
Fasteignagrunnur savings account is available to customers, 15 to 35 years of age, who subscribe to regular savings. The account is suited to the needs of customers wishing to set aside funds to purchase housing. Fasteignagrunnur is available both as a non-indexed 12 month term deposit and indexed 36 month term deposit savings account.
Landsbankinn hf. Austurstræti 11, 155 Reykjavík, Reg. No. 471008-0280
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