Savings

We’re glad that you’re interested in saving with us!
To open an account, click “Log in” on our website.
Log in using BankID — the first time you log in, you’ll need to fill in a few details to register as a customer and select the type of account you want to open.

Tip: You can easily become a customer and open a savings account directly in the Nordiska App.
Download the app, log in using BankID, and follow the steps to choose which account you want to open. The app makes it fast and convenient to get started, even on your mobile device.
Learn more about how to download the app here: How do I download the Nordiska App

Yes, of course, you can set up monthly savings at Nordiska. In most banks, you can set up a standing payment using the deposit details you have with Nordiska. You can find these details when you log in to your account on My Pages.

We believe that saving money should be completely free of charge, which is why we don’t charge any fees. The only time a fee may apply is if you, as a customer, choose to make an early withdrawal from the Liquidity Account (0.75% of the withdrawn amount, with a minimum fee of 250 SEK). If you don’t make an early withdrawal, it’s completely free!

• Flex and Flex Plus: Withdrawals can be made at any time without any fees.
• Liquidity Account: Withdrawals can be made before the end of the term, but a fee of 0.75% of the withdrawn amount applies, with a minimum of 250 SEK.
• Fix Account: Withdrawals cannot be made before the end of the term. Once the term expires, the capital is automatically transferred to your Flex account.

No, only one account holder is allowed per account.

Yes, it is perfectly fine to have multiple savings accounts! You can have up to eight savings accounts simultaneously. To open an additional savings account, log in to your account on Nordiska, select the option "Open a new account," choose the account you want, and sign the agreement using BankID.

You have the right to withdraw from your agreement within 14 days from the date the agreement was entered into. If you wish to exercise your right of withdrawal before the digital withdrawal functionality is available, please contact Nordiska by phone or email and specify which account the agreement relates to. We will assist you with your request as soon as possible and within the timeframes set out in the applicable terms and conditions, but no later than 30 days from receipt of your withdrawal request.

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.

Most banks use a 4-digit clearing number followed by an account number. If you have an account in Swedbank where the clearing number starts with the digit 8 and the account number consists of 8 or 9 digits, you need to add one or two zeros at the beginning of the account number so that the total becomes 15 digits (including the clearing number).
Example: CCCCC 0XXXXXXXXX (C = Clearing number, X = Account number).

Yes, as a legal guardian, you can open a savings account for the principal. We require an application form for the savings account, a certified copy of your ID as the legal guardian, and the guardianship authorization. However, you will not have online banking access to the account. For withdrawals or account information, you or the trustee must contact us. Send an email to info@nordiska.se, and we will assist you with the necessary forms. For other questions about authorizations, contact our customer service.

Yes, you can easily make internal transfers between your savings accounts at Nordiska via the Internet Bank, with the exception of accounts that have a fixed term, such as Fix Accounts and Liquidity Accounts.

How to make an internal transfer:

• Log in to the Internet Bank at www.nordiska.se.
• Click on "Deposit and Transfer" in the top menu.
• Select "Transfer" from the dropdown menu.
• Under "From account":
   Choose the account you want to transfer money from, e.g., Nordiska Flex.
• Under "To account":
   Choose the account you want to transfer money to, e.g., Nordiska Flex Plus.
• Enter the amount you wish to transfer.
• Review the details and click "Confirm".

Important to note:

• Transfers between your own accounts at Nordiska are processed immediately.

For accounts with a fixed term (Fix Accounts and Liquidity Accounts):

• Internal transfers are not possible after the account has been opened, as only one deposit is allowed at the time of opening.
• If you plan to make a larger deposit into these accounts, we recommend first depositing the funds into a Flex account and then transferring the full amount when opening the fixed-term account.

For Nordiska Flex Plus:

• The balance must be at least SEK 10,000 for the interest rate to apply.
• If the balance falls below this threshold, Nordiska reserves the right to reduce the interest rate to 0%.

With the help of the Internet Bank, you can efficiently manage internal transfers and ensure your savings goals and account requirements are met.

You can have up to 8 active savings accounts at Nordiska. To open a new savings account, log in to Nordiska’s online bank, click on "Open a new account", and choose the account that suits you.

To make a deposit to your savings account:

• Use Nordiska’s bankgiro: 828-5975.
• Enter your Nordiska account number as the OCR number when making the payment.

If you have savings in Nordiska Flex (variable-rate savings account) and decide to transfer the capital to Nordiska Fix (fixed-term savings account), the following applies:

• On Flex accounts, interest is calculated daily and paid out on 31 December each year, or when the account is closed.

• This means that the interest accrued on Flex up to that point will still be paid out according to the Flex terms, even if you transfer the capital to Fix during the year.

• Once your Fix account starts, the fixed interest rate you have chosen applies for the entire term.

• Interest on Fix is accrued during the binding period and paid out together with the capital to your Flex account when the term ends.

You never lose the interest already earned on Flex – it will always be paid out according to the account terms.

No, unfortunately, it is not possible for multiple people to jointly own a savings account at Nordiska.

No, a savings account can only be opened if you are over 18 years old.

No, unfortunately, it is not currently possible to name your savings accounts.

You can only make a single deposit into each fixed-term account (Fix/Liquidity Account) when you open it. If you want to make multiple deposits, we recommend transferring the funds to your Flex account first and then moving the full amount to your Fix account at once. For Flex and Flex Plus accounts, you can make unlimited deposits and withdrawals.

Fix Account

• Term: You can choose between different fixed terms to tie up your money for the duration that suits you best.
• Interest: The interest rate varies depending on the chosen term. For current interest rates, visit Nordiska Savings Rates.
• Withdrawals: Early withdrawals are not allowed.

Liquidity Account

• Term: Fixed term of 1 year.
• Interest: See current interest rates on Nordiska Savings Rates.
• Withdrawals: Early withdrawals are allowed with a fee of 0.75% of the withdrawal amount, minimum 250 SEK.

Contact Nordiska’s customer service at 08-23 28 00 on weekdays between 08:30-16:30, and they will help you determine if you have a savings account.

You can easily check your savings account balance by logging into My Pages and navigating to "Account Overview".

Nordiska’s business savings account is currently under development. We’ll update this page once the product is launched. Keep an eye on our website and app for the latest news and updates.

Opening a savings account means placing money with the bank to earn interest. A savings account is a safe way to save, as deposits are protected by the Swedish government deposit guarantee scheme. Below is a complete overview of the key features, conditions, and concepts you should know about savings accounts with Nordiska.

What is a savings account?

A savings account is designed for saving, not for everyday transactions. You deposit money and, depending on the account type, may also be able to withdraw it. The main purpose is to keep your savings safe while earning interest.

Types of savings accounts

Nordiska offers different account types, tailored to your needs:

• Variable-rate savings account (no fixed term) – you can deposit and withdraw money at any time. The interest rate is variable, which means it can change over time.

• Fixed-term savings account (time deposit) – your money is locked for a set period (e.g. 6 months, 1 year, 3 years). The interest rate is fixed for the entire term. Early withdrawals are normally not allowed, or may result in loss of interest.

• Special accounts – sometimes Nordiska offers promotional accounts with specific terms, such as limited free withdrawals or higher introductory rates.

How does interest work?

Interest is the compensation you receive for keeping your money in the account.

• Variable interest – can increase or decrease during the saving period, depending on market conditions.

• Fixed interest – agreed upon in advance and does not change during the fixed term.

Example: If you deposit SEK 100,000 at 3 % annual interest, you earn SEK 3,000 in interest over one year (before tax).

Compound interest

If the interest you earn remains in the account, you begin earning interest not only on your initial deposit but also on the accumulated interest. This is called the compound interest effect, which makes savings grow faster over time.

Fees

Savings accounts with Nordiska generally have no fees for opening, deposits, or withdrawals. The full amount you save accrues interest. However, for fixed-term accounts, early withdrawals may result in losing accrued interest or paying a penalty fee.

Deposit guarantee – is my money safe?

Yes, all savings accounts with Nordiska are covered by the Swedish government deposit guarantee scheme:

• Coverage up to SEK 1,150,000 per person and institution.

• If you hold multiple accounts with Nordiska, the amounts are added together for the guarantee.

• In special life events (e.g. sale of property, inheritance, insurance payout), coverage can be temporarily extended up to SEK 5 million for 12 months.

• If the guarantee is activated, compensation is normally paid out within 7 working days.

Deposits and withdrawals

• On variable-rate accounts you can deposit and withdraw money freely.

• On fixed-term accounts you cannot withdraw funds until maturity, unless otherwise specified in the terms.

• Deposits are made via transfer from your regular bank account, and withdrawals are typically paid to the same registered account.

Tax on interest income

Interest earned on your savings is taxable as capital income. Nordiska reports the interest to the Swedish Tax Agency automatically. Normally, 30 % tax is deducted before the interest is paid out to your account, so you don’t need to do anything manually.

Risks with savings accounts

Savings accounts are very safe, but there are a few points to consider:

• On variable-rate accounts, the interest rate may decrease, reducing your return.

• If your total balance with Nordiska exceeds SEK 1,150,000, the excess amount is not protected by the guarantee.

• On fixed-term accounts, your money is locked until maturity, and early withdrawals may not be possible or may lead to loss of interest.

When is interest paid?

It depends on the account type:

• Variable-rate accounts usually pay interest once per year.

• Fixed-term accounts may pay interest at maturity or annually, depending on the agreement.

Summary

• A savings account lets you earn interest on your deposited funds while keeping them safe.

• Choose between variable accounts (flexibility, but changing interest) and fixed-term accounts (predictability, but money is locked).

• All savings accounts with Nordiska are covered by the Swedish deposit guarantee up to SEK 1,150,000 per person and institution.

• Interest is taxable, but tax is reported and handled automatically by the bank.

• No account fees are charged, so your full balance grows with interest.