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Bergen 25th September 2018: Sbanken increases interest rates on mortgage loans. Additionally there will be an increase in rates for BSU and savings accounts, whilst interest rates on some car loans are reduced.
Norway's central bank increased their key policy rate on the 20th September.
- Interest rates are still low and we believe that most are prepared for this increase now after several years with historically low mortgage rates. Sbanken has always been competitive on price. This will continue to be the case in the future, says Magnar Øyhovden, the CEO of Sbanken. The changes in interest rates are a market adaptation and is driven by an increase in funding costs over time.
For most customers, mortgage rates will increase with 0.25 percentage points. The mortgage with the lowest rate in Sbanken will have an effective rate of 2.30 percent after the change. Sbanken adjusts interest rates on several other products. Interest rates for BSU and savings accounts increase by 0.20 percentage points.
For new mortgage customers the change will come into effect from the 25th September. For existing customers this will apply from the 6th November. All customers will be notified through their internet bank.
For further information, please contact:
Magnar Øyhovden, CEO, tel.: +47 959 40 038
Geir Holen, Communictions Manager, tel.: +47 959 68 286