Closing a security deposit account? See more information here

Security deposit account

Security when renting or letting a residential or commercial property.

Security for non-payment of rent and damage to the rental property
The account is blocked for as long as the lease lasts

Security deposit accounts must be opened by the landlord

The following must be in place:

Front-end fee security deposit account

NOK 500

Manual opening costs NOK 1,250. The Norwegian Tenancy Act assumes that the landlord will cover the front-end fee.

Customer relationships
Both landlord and tenant must be registered as customers at DNB. Are you the tenant and not a DNB customer yet? Become a customer private or business

Tenant’s personal data
Tenant’s name, national identity number, email and telephone number.

Documentation

Electronic copy of signed tenancy agreement.

How to open a security deposit account

Sign the tenancy agreement

Order a security deposit account in the online bank

We’ll get in touch when the account is opened

The tenant pays in the deposit

Useful information about the account

To open a security deposit account, the tenant must be over 18 years old.
The deposit amount cannot be greater than six months’ rent.
The tenant owns the account and receives the interest unless otherwise agreed.

Agreement terms and conditions, security deposit account (PDF)Open the file in a new tab

See how to open a security deposit account (2:23 min)

Close a security deposit account

When the lease ends, the landlord and tenant can close the security deposit account in the online bank. Ifyou are a landlord/tenant and a retail customer, use this form.

Useful information:

Security deposit accounts must be closed by a person with an ordering role in the online bank.
Both the landlord and tenant should confirm any claims against the deposit by submitting forms with the same amount.
When we have received both forms, the money will be transferred to the tenant’s account after 1-2 working days.

Deposit dispute

When the landlord starts the process by submitting a tenancy termination first, the tenant receives a 5-week notice period for documenting paid rent or to file a case with the Rent Disputes Tribunal. For claims of damages, the deadline is 2 weeks. If there is no response, the case is referred to the Rent Disputes Tribunal.
When the tenant starts the process, the landlord gets a 5-week notice period for submitting claims. In the event of a claim for outstanding rent, the case is reversed, and the tenant is given 5 weeks to document the payment or raise a case with the Rent Disputes Tribunal. In the event of any claim for damages, the landlord must obtain acceptance or raise a case with the Rent Disputes Tribunal by the original deadline.

Security deposit account FAQ

The tenant isn’t a DNB customer. What should I do?

I’m a tenant. What should I do?

Change the landlord/tenant on the account?

Change landlord: The landlord may change during the tenancy period. You can update the Lessor information by clicking on "Open Deposit Account" further on the page. ”. On the form you will be asked “Does this concern a change to an existing security deposit account?”. Here the landlord can provide new information and upload the necessary documentation. This includes re-leasing, annual renewal of existing contracts, new service and management agreements.
Change tenant: It is not possible to change the tenant on an existing security deposit agreement. When setting up a security deposit account for a new tenant, a new order to open an account must be submitted. You do this by clicking on the "Open deposit account" button” at the top of this page.

Who is the account opened under?

Deposit dispute. What do we do?

When the landlord starts the process by submitting a tenancy termination first, the tenant receives a 5-week notice period for documenting paid rent or to file a case with the Rent Disputes Tribunal. For claims of damages, the deadline is 2 weeks. If there is no response, the case is referred to the Rent Disputes Tribunal.

When the tenant starts the process, the landlord gets a 5-week notice period for submitting claims. In the event of a claim for outstanding rent, the case is reversed, and the tenant is given 5 weeks to document the payment or raise a case with the Rent Disputes Tribunal. In the event of any claim for damages, the landlord must obtain acceptance or raise a case with the Rent Disputes Tribunal by the original deadline.

What is a suitable size for the deposit amount?