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 (http://www.sedlabanki.is). 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 CIA.gov 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
  • Deposits
    Q: I am a 62yo American getting a lump sum settlement from disability I am looking to invest where I can live off interest some of the interest. I would be willing to become an expat to accomplish this. I doubt any interest disbursements would prove to be a major taxable development under US tax laws. Would they be taxable in Iceland? Thank you for your assist. JLee

    Jaimie Lee from United States
  • Landsbankinn
    Q: Hello i'm spanish and i live in Spain. How can i do to open a bank account in Iceland. Thank you

    Jabier from Saint-Paul-les-Dax, France
  • Landsbankinn - Deposits - Landsbankinn 6 Month Fixed Rate Account
    Q: Would deposit accepted with foreign currency. ie AUD $ or US$. I hold Australian passport and work in UAE. Best regards Nabih

    Nabih from Abu Dhabi, United Arab Emirates
  • Landsbankinn - Deposits - Landsbankinn 5 Year Fixed Rate Account
    Q: I want to reach your bank about my account in the Philippine but I'm currently migrate now in Alaska USA . Do you have any contact number or email address that i can contact with my account ?, I hope you can help me with my query

    Fatty Joy from Anchorage, United States
  • Landsbankinn - Deposits - Landsbankinn 5 Year Fixed Rate Account
    Q: hi. what is the situation with investing an amount from the uk? and is that likely to e affected by brexit?

    Ian Aspinall from Spain
  • Deposits
    Q: Can a non resident contract a deposit account? Are benefits taxed? what s the best way to contract the product?

    antoni from Spain
  • Deposits
    Q: 1. Can nonresident hold bank deposit bank account in Iceland ? 2. Is there a tax on interested earned on deposit accounts in Iceland ? 3. Are there any specific conditions applied to a nonresident account in Iceland ?

    Charles from Dublin, Ireland