Kjörbók - Premium savings account

Easy access savings with higher interest rates in stages

The Kjörbók premium savings account is not inflation indexed and is suitable for persons desiring flexibility in their savings. It is especially well suited for savings kept on deposit for less than one year, or for persons who wish to have their salary deposited into a savings account.

• A Kjörbók account is a flexible, easy access and secure savings option, which encourages savings by offering higher interest rates depending upon how long the balance is left untouched.
• Kjörbók deposits can be withdrawn at any time.
• Kjörbók accounts earn a high, variable rate of interest which is added to the principal twice a year.
• Each deposit earns interest equal to that of regular savings accounts for the first 60 days after deposit.
  After 60 days the interest rate increases and then increases again by 0.6% twelve months after deposit.
• The interest rate bonus is completely retroactive, i.e. it is calculated on the balance right from the date of deposit. Withdrawals from Kjörbók accounts are always debited from the most recent deposit first.

Encouraging savings

Landsbanki's customers can avail themselves of a savings service through which the bank looks after making regular deposits to Kjörbók accounts. This could, for instance, take the form of transfers from a debit card account, deposit of social insurance benefits, pensions or payments on debts in collection.

Vaxtareikningur - Premium Rate Account

High interest on short fixed-term deposits

The Vaxtareikningur premium rate account is not inflation-indexed, and is particularly suitable for amounts of over ISK 200.000, deposited for a shorter or longer period without a long-term commitment.

• The Vaxtareikingur account returns a high rate of risk-free interest and is only restricted for a short term.
• Each deposit is only restricted for 7 days, and can be withdrawn at any time after that.
• A Vaxtareikningur account can be opened and deposits and withdrawals made using Landsbanki's Personal Internet Bank, Einkabanki, or at any Landsbanki outlet.
• The minimum deposit is ISK 200.000.
• Customers can decide whether they wish to have interest paid monthly or annually.

The interest paid on Vaxtareikningur accounts increases depending upon the balance:

Varðan 60 - Seniors' Premium Rate Account

High interest and easy access

The Varðan 60 Seniors' Premium Rate Account is intended for Landsbanki loyalty plan (Varðan) customers aged 60 years and older. It is not inflation indexed and pays a high rate of interest.

• Easy access, no fixed term for deposits of Varðan customers
• No minimum deposit
• The interest rate paid increases in stages, with the maximum paid on a balance of ISK 60 million or more
• Customers can decide whether they wish to have interest paid monthly or annually

Customers can have regular savings deposits made to Vaxtareikningur accounts for a minimum of ISK 500 monthly.

Sparireikningur - Savings Account

Simple, secure savings

The Sparireikningur is a non-indexed fixed-term deposit account with a minimum term of one year.

• The Sparireikningur always pays a high rate of interest.
• Deposits are made for a fixed term of at least one year.
• Well suited for regular savings.
• Minimum deposits for a regular savings plan of ISK 500 monthly

Framtíðargrunnur - Savings Account

Earning good interest to prepare for the future

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:

Inflation-indexed Framtíðargrunnur account

• Highly suitable as a savings option for children and youngsters up to 15 years of age.
• Balance can be withdrawn when a child reaches 18 years of age.
• A simple regular savings plan requires only a minimum of ISK 500 deposited each month.
• No service charges, redemption charges or other commissions.

Non-indexed Framtíðargrunnur account

• Highly suitable as a savings option for youngsters from 15-18 years of age.
• Balance can be withdrawn when a child reaches 18 years of age.
• A simple regular savings plan requires only a minimum of ISK 500 deposited each month.
• No service charges, redemption charges or other commissions.

Landsbók - Fixed-term Deposit Account

Secure, longer-term savings

Landsbók savings accounts offer a simple and secure way to earn high interest on your savings with the security of inflation indexation.

• Save for a fixed term of 3 or 5 years
• Once the agreed term has elapsed, each deposit is accessible for one month, after which it is restricted once more for five months.
• Minimum deposits for a regular savings plan of ISK 500 monthly

For interest rates, see Landsbanki's current tariff.

Fastvaxtareikningur

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.

Non-indexed account with fixed rates

• Term of deposit 3, 6, 12, 24, 36 or 60 months.
• Minimum deposit of ISK 500,000.
• Account is terminated at the end of the term.
• Withdrawals against a withdrawal fee are possible, see Landsbankinn's tariff.
• Interest is added to the balance at the end of each year and when an account is closed.

Fasteignagrunnur -Savings account

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.

Complementary contribution against regular savings

• Housewarming gift upon purchase of real estate.
• One withdrawal only is possible, as of the account holder reaching 18 years of age.
• Withdrawal becomes possible when the account holder reaching 18 years of age.