Flexible account with tiered interest rates: higher interest on higher balances. Ideal for customers who want to maximize their savings. Each deposit into the account is tied up for ten days and is then available on demand. No minimum balance and no withdrawal fee. Ideal for people who want a short fixed investment period for high amounts.

High interest account with non-indexed variable interest. Tiered interest rates. No minimum amount in the account. Differs from other savings accounts offered by the Bank in that the fixed investment period begins when a withdrawal request is made, not when a deposit is made.

Withdrawal is made on the 31st day after the date of the withdrawal request. If the date of payment falls on a non-banking day (business day on which banks in Iceland are open) payment shall be made on the following banking day. Withdrawals are made in the online bank account in the same way as a normal transfer is made, with the transfer being made 31 days later. A withdrawal request can also made at your nearest branch of Arion Bank for a fee, see list of rates and charges.

An inflation-linked savings account is an excellent option for regular savings and yields good returns. Each deposit is tied up for 36, 48 or 60 months. The month in which the deposit is made is not included in the fixed investment period. A deposit is available for withdrawal on the first day of the month following the end of the fixed investment period. After that each deposit is available for withdrawal for a period of one month every six months. Interest is calculated at the end of the year and is then available on demand. If this account is part of regular savings plan, you can withdraw the entire amount at the end of the fixed period or every six months after that. You can arrange a regular savings plan by contacting the call centre or by visiting your nearest branch.

A non-indexed instant access account with favourable 12-, 18- and 24-month interest rates. This account is ideal for regular savings. There is a 1.5% fee on all withdrawals made before the end of the fixed investment period. If this account is part of regular savings plan, you can withdraw the entire amount at the end of the fixed term. You can arrange a regular savings scheme by contacting the call centre or by visiting your nearest branch.

When you open the account you decide how long you want to invest for and the interest rates are fixed throughout the investment period. You can choose minimum investment periods of 3, 6, 9 or 12 months, and the minimum investment is ISK 500,000. Interest rates are based on the market’s expectations of trends in interest rates during the fixed investment period. The interest rate current on the day the account is opened applies throughout the fixed investment period. Customer has two working days to deposit into the account and at the end of the fixed investment period the balance plus interest is paid out into a transaction account. 

To activate this account, the first deposit need to be received within three days of opening it.

An ideal account for people who want to give children a good financial start in life. This account is an inflation-linked deposit account and offers the highest interest rate of all our standard deposit accounts. Funds are available for withdrawal from the age of 18.

Instant access account suitable for funds which are in the account for short periods.

This account allows you to put your savings into a single account and benefit from higher interest rates, and gives you straightforward access to your funds at any time. You can arrange to have the Bank make automatic transfers from this account into your current account and you can also transfer from this account via your online bank account at Arion Bank.