INSTABANK ASA provides services in the area of retail banking. INSTABANK ASA offers a range of products including current accounts, payment cards, savings accounts (0.20 - 0.20 %), time deposit accounts, consumer loans, car loans. INSTABANK ASA makes its solutions available to natural persons.
Opening an account with INSTABANK ASA can be done by performing the following steps: completely online. It usually requires about a few minutes.
INSTABANK ASA requires the following documents to open a personal bank account: passport; proof of address; application form.
While opening a bank account INSTABANK ASA has to perform KYC procedure and comply with AML requirements. KYC procedure usually includes obtaining the information about customer identity, residential address, current occupation and source of income. KYC checks performed by INSTABANK ASA and the documents used are outlined below.
INSTABANK ASA may require additional documentation or information depending on the case.
INSTABANK ASA operates as a direct bank without a branch network. Products and services offered by INSTABANK ASA are available via online banking, mobile application.
Savings accounts are interest-bearing deposits accounts which allow to withdraw money at any time. While providing more flexibility, savings accounts usually offer lower interest rates and shorter deposit terms than time deposit accounts.
INSTABANK ASA offers the following savings accounts.
Updated on 29 October 2020
Germany: This product is offered to German residents only. When clicking on the product link you will be redirected to the product page in German.
Deposit Guarantee. Savings accounts made with INSTABANK ASA are covered by deposit guarantee scheme of Norway up to 2,000,000 NOK per depositor.
Withholding Tax. Interest income gained on savings accounts is not taxed in Norway for both residents and non-residents.