September 26, 2022

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Danske Bank raises mortgage rate - E24

Danske Bank raises mortgage rate – E24

Danske Bank sets the interest rate on mortgages and deposits at up to 0.50 percentage points. But the bank still does not know which products will receive an increased interest rate on deposits

In the wake of the recent rate hike by Norges Bank, Danske Bank is now adjusting interest rates on mortgages and deposits.
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Major Danske Bank raised its mortgage rate by as much as 0.5 percentage point, Danske Bank wrote in a press release.

The new lending rate list is effective August 24th. Existing customers will be notified of the change over the next few days and will be effective from October 9th.

There is potential for interest rate changes for certain groups of customers, according to the bank.

With today’s adjustment, we are adjusting to the change in the key rate and market condition, but we must continue to be competitive, says Steinar Nielsen, Head of Personal Markets at Danske Bank Norge in the letter.

Director of Communications Austin Schmidt stated that the bank is raising interest rates on a number of deposit products. For example:

  • The savings account for children and youth increased by 0.25 percentage points to 1.80 percent.
  • Overnight savings increased 0.15 percentage points to 0.75 percent.
  • Turbospar increased 0.30 percentage point to 1.50 percent.
  • BSU up to age 34 increases by 0.35 percentage points to 4 percent. BSU for those over 34 increases by 0.35 percentage point to 1.35 percent.

Nordea first

On the same day after Norges raised the interest rate to 1.75 per cent, Nordea decided to raise its lending rates. Thus, the big bank was the first to pay attention to the double interest rate jump of the central bank.

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On the deposit side, Nordea is raising the interest rate by 0.5 percentage points for customers with an “extra savings account” of up to NOK 100,000. The bank also raised the interest rate by 0.5 percentage point for all BSU customers under the age of 34.

  • The new interest on the Extra Savings Account up to NOK 100,000 will be 1.50 per cent.
  • The new interest rate on BSU will be 4.05 percent.

Only for those who have 0.5 million on their books

DNB is increasing the interest rate on deposits by up to 0.5 percentage points for BSU customers and those who save in an “plus savings account” between NOK 500,000 and NOK 2 million in the account, E24 was told.

Young people with a BSU account get an interest rate of 4.05 percent, communications director Vibeki Hansen Lewin tells E24.

Read on E24 +

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