Updated on 26 November 2020
Established in 2015 in Bergen, BRABank is a new fully digital bank that is passionate about providing customers with the best experiences. BRABank redefines banking for individuals through simple and user-friendly services, and by working purposefully with innovation and development. BRABank offers current and savings account, consumer loans to private individuals in Norway, Sweden, Finland, Germany, Spain, Austria and France.
Spain: This product is offered to Spanish residents only. When clicking on the product link you will be redirected to the product page in Spanish.
Time deposits accounts are interest-bearing deposit accounts offering higher interest rates than savings accounts. However the money deposited to such account cannot be withdrawn for a specified period of time (term).
The table above shows essential details of selected time deposit products offered to retail customers by the banks in Norway: currency, interest rate per annum and deposit term. The time deposit accounts terms vary from 12 month to 1 years (12 months). The interest rates are within the range 0.25 - 0.25 %. 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. Time deposit 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 time deposit accounts is not taxed in Norway for both residents and non-residents.