Our highest interest rates paid weekly
Fasten your seatbelt and watch your savings take flight!
Fasten your seatbelt and watch your savings take flight!
This is a savings account where your money is always available for use. Interest rates are based on your tier in Arion benefits and increase in steps as your balance grows.
We pay you interest on the principal amount of your account every single week – not just once a year. This means you receive interest on both the original amount and on the interest that accumulates each week.
Your savings therefore grow faster than ever before!
To activate the Rewards Account, you need to have registered for Arion Rewards. You should then see a banner at the top of the Arion app that guides you through a few simple steps.
If you are a new customer, you start by registering for Arion Rewards. Next, you need to make sure that you meet certain conditions so you can activate the account.
Weekly interest is added to the principal every week. This means you receive interest on both the original amount and the interest that accumulates each week. Your savings, therefore, grow faster than ever before.
Monthly interest is added to the principal once a month, which means you receive compound interest less frequently, slowing down the returns over the long term.
Annual interest is added to the principal once a year, which means your savings grow at the slowest rate.
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ISK
Total amount saved over period:
Saved | 0 ISK |
Interest | 0 ISK |
Total amount saved over period:
Saved | 0 ISK |
Interest | 0 ISK |
Total amount saved over period:
Saved | 0 ISK |
Interest | 0 ISK |
The Rewards account is an unrestricted, non-indexed savings account in Icelandic króna with variable interest rates.
The account is part of Arion rewards, and you need to meet at least the requirements for level 1 to activate it.
Start by opening your Reward account in the Arion app.
Next, tap "Transfer" and choose the amount you want to move into your default account.
Please note that you can only transfer money to the account registered as your default Arion payout account.
No, you can only transfer money from the account to a registered default account for deposits in the Arion app.
To change your default account, you need to:
Tap the circle in the top-right corner of the app and select "Default accounts"
Choose which account should be registered as the default account, and therefore used for transfers from the Rewards account
To change your default account you need to:
Tap the circle in the top-right corner of the app and select "Default accounts"
Choose which account should be registered as the default account, and therefore used for transfers from the Rewards account
Yes, the capital income tax is deducted from the amount each week, i.e., at the same time as the interest payment is made.
No, it's not possible to register the account as a linked payment account. You can only transfer from the account to your Arion rewards default account.
It's only possible to provide viewing access to the account, not transfer access.