Iceland Interest Rates

The Icelandic economy, with a population of 325 thousand (est. 2014), ranks 142 in the world with a GDP PPP of $13.2 Billion and GDP PPP per capita of $41,000 vs. $53,101 (United States) according to the IMF in 2013. Its national currency is the Icelandic króna (ISK) that is issued by Central Bank of Iceland ( The local banks of Iceland like international banks provide products for savings including savings account and deposit accounts in local Krona currency as well as foreign currency accounts and as Index-linked deposit accounts. Inflation estimates in the country by the website indicates its inflation rate was 3.9% in 2013 and 5.2% in 2012.

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Iceland Banks

Showing rates for 5 Bank deposit providers in Iceland.
Bank Branch Founded Ownership
Landsbankinn Landsbankinn 34 2008 Local
Arion Bank Arion Bank 20 2008 Local
Islandsbanki Islandsbanki 18 1875 Local
MP Bank MP Bank 1 1999 Local
Spar Iceland Spar Iceland N/A

Iceland Discussion Activity

  • Landsbankinn
    Q: I am a spanish citizen and would like to know if I am applicable to open a deposit account and if so, the proceedings to follow. Thanks.

    Antoni from Spain
  • Landsbankinn - Deposits
    Q: Can a non-resident/non-citizen have a fixed rate deposit account? Can it be held in US dollars? Is it federally insured?

    Barbara from Olympia, United States
  • Deposits
    Q: Can a non resident open a deposit account? Are benefits taxed? how would we apply?

    trevor from Knaresborough, United Kingdom