Updated on 20 October 2020
Instabank is a new digital bank offering savings and loans with flexible repayment individually adjusted for its customers. Instabank offers fast, intuitive and secure sales financing and payment solutions, which make sales easier, both for businesses and their customers. Instabank also provides insurance products.
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.
Savings accounts are interest-bearing deposits accounts which allow to withdraw money at any time. While offering more flexibility, savings accounts usually provide lower interest rates than term deposit accounts.
The table above shows essential details of selected savings accounts products offered to retail customers by the banks in Norway: currency, interest rate per annum and deposit term. The savings accounts terms vary from 1 month to 1 years (12 months). The interest rates are within the range 0.20 - 0.20 %. The interest rates provided in the table do not take into account withholding tax levied on interest income in Norway.
Country Deposit Rating. Norway's Moodys country ceiling (the highest rating that can be assigned) for deposits in local currency is set to Aaa (prime).
Deposit Guarantee. Savings accounts made with credit institutions in Norway are covered by deposit guarantee scheme 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.
