Interest

Interest on Nordiska's savings accounts is paid as follows:

• Flex Accounts: Interest is capitalized and paid at year-end directly to your savings account.
• Fix Accounts: Interest is capitalized and paid at the end of the binding period, along with the principal, to your Flex account.
• Liquidity Accounts: Interest is capitalized and paid when the account's term ends, directly to your Flex account.

Interest is also paid upon account closure if it occurs before the specified times.

Interest on your balance is calculated based on the actual number of days and is based on a 365-day year. Earned interest is deposited into your account at year-end or when the account is closed.

Earned interest is classified as capital income and taxed at 30%. Nordiska deducts and pays the tax at the time the interest is capitalized. The deducted tax and total earned interest from the previous year are pre-filled in your tax return under section 7.2 (interest income, etc.).

Capitalized interest refers to the interest that has accrued during the saving period and has been paid to the account. Interest is capitalized at the end of the year for Flex accounts and at the end of the term for Fix accounts. Interest is also capitalized when the account is closed.

If the total interest you earn on our accounts is under 100 SEK for the year, it is not taxable. However, if you have multiple savings accounts at different institutions and the total interest exceeds 500 SEK, the interest is taxable.

Nordiska deducts and pays the tax at the time the interest is capitalized. If you do not meet the tax liability as described above, any previously withheld tax will be refunded to you by the Swedish Tax Agency in your tax return.

It is difficult to say exactly when an interest rate change will occur. However, as soon as an interest rate increase or decrease happens, we inform our customers to keep them updated.