INSTABANK ASA

Business Summary

Services
retail banking
Clients
natural persons
Products
current accounts
payment cards
savings accounts (0.20 - 0.20 %)
time deposit accounts
consumer loans
car loans
Area Served
NONorway
DEGermany

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.

Account Opening

Account Opening Procedure
completely online
performed within a few minutes

Opening an account with INSTABANK ASA can be done by performing the following steps: completely online. It usually requires about a few minutes.

Required Documents
passport
proof of address
application form

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.

Identity Verification
passport
any one of the documents above
Address Confirmation
proof of address
any one of the documents above
Current Occupation
Income Source
Forms
application form
all the forms from above

INSTABANK ASA may require additional documentation or information depending on the case.

Ways to Bank

Business Channels
online banking online banking
mobile app mobile app

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.

Products

Savings Accounts

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

Tagesgeld
Sales Region
DEGermany
Investment Amount
100 - 90,000 EUR
Interest Rate (p.a.)
0.20 %
Deposit Term
1 - 99 months
Savings Account Details
Product Name
Tagesgeld
Account Currency
EUR
Min. Interest Rate (p.a.)
0.20 %
Max. Interest Rate (p.a.)
0.20 %
Min. Deposit Term
1 month
Max. Deposit Term
99 months
Min. Investment Amount
100 EUR
Max. Investment Amount
90,000 EUR
Interest Frequency
1 times a year

DEGermany: 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.

See Also

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