Interest and Savings Account Rates

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.

Interest rate increases can happen quickly. When an interest rate increase occurs, it takes effect the same day. You are always notified via messages in the internet bank about any interest rate changes. The new current interest rate is available on our website and at www.compricer.se. If you already have a variable savings account affected by the increase, the interest rate is automatically adjusted on your savings account the same day.

In the case of an interest rate decrease on Nordiska Flex or Nordiska Flex Plus, we notify you via messages in the internet bank 14 days before the decrease takes effect.

How to Find Messages in the Internet Bank:

1. Log in: Go to Nordiska's internet bank and log in with BankID.

2. Open Messages: Click on the envelope icon in the upper right corner next to your name.

3. Read Your Messages: Here you will find all messages from Nordiska, including important updates and information about your accounts.

We offer savings accounts with both variable and fixed interest rates. The interest rate depends on the type of savings account you choose to open.

If the total interest you, as a customer, receive on our accounts is less than SEK 100 for the year, it is not taxable. However, if you have multiple savings in different institutions that together exceed SEK 500 in received interest, it is taxable.

The interest rates on Nordiska's savings accounts vary due to several factors that influence the terms for each account. Some of the key factors include:

• Account Flexibility: Savings accounts with free deposits and withdrawals, such as Nordiska FLEX, usually have a variable interest rate that can be adjusted based on market conditions.

• Fixed Terms: For accounts with fixed terms, such as Nordiska FIX, the interest rate is fixed and determined at the time of account opening. Shorter fixed terms tend to have lower rates, while longer fixed terms can offer higher rates due to locking in the funds for a longer period.

• Sustainability and Focus: Accounts like Nordiska FLEX GREEN 🌱 are linked to sustainable investments, which can influence the offered interest rate.

The interest rates are adjusted based on current market conditions and economic factors, which may cause them to vary over time. For the latest rates and complete terms, please visit Nordiska’s website.

Savings interest rates are influenced by several factors and can be adjusted over time depending on economic conditions and market developments. Here are some of the most common reasons:

• Market Interest Rates: Savings rates often follow the general interest rate trends in the economy, which are influenced by central banks' policy rates. Changes in these rates affect banks' costs for lending and offering savings interest.

• Inflation: When inflation rises, banks may need to adjust interest rates to align with the economic situation and maintain the value of savings.

• Market Competition: Interest rates are influenced by competition between banks and other institutions offering savings products. This can lead to rate adjustments to remain competitive.

• Fixed Terms and Flexibility: Savings accounts with longer fixed terms often offer a fixed rate during the period, while accounts with variable rates adjust continuously to market conditions. Accounts allowing free deposits and withdrawals generally have lower rates due to the higher flexibility.

• Bank Capital Needs: Interest rates may also be affected by the bank's need to strengthen its capital base or fund specific operations, leading to adjustments in savings rates.

Savings interest rates are therefore dynamic and are adjusted to reflect prevailing economic conditions.