Nordiska offers different types of savings accounts tailored to different needs. Your choice depends on how long you want to save, whether you need flexibility, and the interest rate offered.
Overview of Nordiska’s savings accounts:
Nordiska FLEX
- A flexible savings account with a variable interest rate.
- Free deposits and withdrawals whenever you want.
- No fixed term.
Nordiska FLEX PLUS
- Higher interest compared to FLEX but requires a minimum balance of 10,000 SEK.
- If the balance falls below 10,000 SEK, Nordiska reserves the right to lower the interest rate to 0%.
- Flexible with free deposits and withdrawals.
Nordiska FLEX GREEN 🌱
- A sustainable savings account where your money is used for green and sustainable investments.
- No fixed term and free withdrawals.
- Variable interest rate.
Nordiska FIX
- A fixed-term savings account with a fixed interest rate.
- One-time deposit upon opening, minimum 10,000 SEK.
- Terms available: 1 month, 3 months, 6 months, 9 months, 1, 2, 3, 4, or 5 years.
- Longer terms typically offer higher interest rates, but this depends on market conditions and future rate expectations.
Nordiska Liquidity Account
- Fixed interest rate with a 1-year fixed term.
- Option to withdraw early for a fee (0.75% of the amount, minimum 250 SEK).
- One-time deposit upon opening, minimum 10,000 SEK.
Why do interest rates vary?
The interest rates on savings accounts are influenced by several factors, such as market conditions, fixed terms, and account flexibility. Generally:
- Variable interest rates: Common for accounts without fixed terms, like Nordiska FLEX and FLEX PLUS. These accounts allow free deposits and withdrawals, and the interest rate adjusts with market changes.
- Fixed interest rates: Apply to accounts with fixed terms, such as Nordiska FIX. The rate is determined at the time of agreement and does not change during the term. Longer terms may sometimes result in lower rates.
- Sustainable investments: Some accounts, like Nordiska FLEX GREEN 🌱, are tied to sustainable and green projects aligned with the UN’s global goals. This focus can also impact the interest rate.
Savings account interest rates can change over time and are influenced by economic conditions and market developments.
Important Information
- Interest rates on savings accounts can change over time and are affected by current market conditions and external factors, such as market interest rates and economic conditions.
- All Nordiska savings accounts are covered by the state deposit guarantee up to 1,150,000 SEK, according to a decision by the Swedish National Debt Office.
- The information on this page is general and should not be considered financial advice. For current rates, detailed terms, and complete account information, please visit Nordiska’s website.