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High-interest account

A high-interest account can give you a better interest rate and is a safe and easy choice for those who want to save without taking too much risk.

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What is a high-interest account and is it suitable for you?

High-interest account is a savings account that gives a higher interest rate than ordinary savings accounts, while different terms and conditions are linked to the account. This can be binding time, limited number of withdrawals or savings for specific purposes.

High-interest accounts are especially suitable for those who have a short-term savings plan and want security, while you want a little more return than you would have otherwise. The risk is low, as the money is safely placed in the bank, but the return may vary depending on the interest rate conditions. See what opportunities you have to get a higher interest rate.

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Fixed rate deposits

Fixed-rate deposits give you a higher interest rate by binding the money for an agreed period. You decide the time period yourself. You can choose between binding for periods of 3, 6, 12 or 24 months.

Start saving in Fixed rate deposits
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Sparekonto Pluss

Sparekonto Pluss is the savings account that gives you the best interest rate when you have NOK 500,000 or more to deposit into an account. Here you have the money in a savings account with a higher interest rate and without a commitment period and with 12 free withdrawals per year.

Start saving in Sparekonto Pluss
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Home savings scheme for young adults

BSU home savings scheme is the savings method for people under the age 34 who want to save for a home. Here you get our highest interest rate, but you must be under 34 years of age and the money must be used in connection with the purchase, repayment or refurbishment of a home you own and live in.

Start saving in a BSU home savings scheme
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Boligspar Ekstra

If you are under 34 years old, you can save up to NOK 300,000 in Boligspar ExtraThe money is not bound to housing until the end of the year You can create Boligspar Extra regardless of the regular BSU, but we recommend that you fill out the BSU account before you set up Boligspar Ekstra.

Read more and start saving in Boligspar Ekstra
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Fixed-income fund

A fixed-income fund is a mutual fund that invests the money in fixed-income securities such as bonds and commercial papers. Here you can choose between short-term savings in liquidity funds or long-term savings in bond funds.

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FAQs

What does a High-interest account mean?

A High-interest account is a type of savings account where you get a higher interest rate than a regular savings account. This type of account is suitable for anyone with a greater amount of money you want to save in a safe and efficient way. Remember that the terms and conditions may vary for the different high-income accounts, so it’s a good idea to check the details of what suits you best.

Is there a binding period for a high-interest account?

If you have fixed-rate deposits, this will be a high-interest account where you hold your money to 3, 6, 12 or 24 months.

If you want to save in the high-interest account BSU, the money is locked for the purposes of home purchase or refurbishment.

If you choose a savings account plus or interest rate fund, your money is not locked for withdrawals or bound for a specific period of time.

Therefore, high-interest accounts have different terms and conditions, and you can choose the account that suits your purpose best.

What is the difference between a high-interest account and a regular savings account?

The main difference is in the interest rate. You usually get a higher interest rate in a high-interest account than in a regular savings account, but other terms and conditions as well.

For example, binding time or a certain number of fee-free withdrawals. If you want full freedom over the money and the interest rate is not as important, we recommend that you save in a regular savings account.

Is a high-interest account account safe?

A senior employee account is considered a safe choice. In DNB, your deposit is secured through the Banks' hedging fund. This means that even if something should happen with the bank, your deposit is secured up to NOK 2 million.

Is there tax on interest income from savings accounts?

Yes, you’ll pay tax on the profit of the interest you’ll get on the savings account. The tax rate on interest income is 22%.

If you have interest income, the information about this will be sent directly from the bank to the Norwegian Tax Administration. Always check that the information that is actually being asked is correct.

Also remember that the principle of mutuality means that you can also deduct 22% for interest you pay on loans or have lost on different investments.