BN Bank increases interest rates on mortgage loans by 0.20 percentage points as a result of increased borrowing costs. Meanwhile, the Bank created a new high-interest account.
Several big banks increased mortgage rates before Christmas, and now the BN Bank is one of the last one.
Bank writes in a press release that the market is showing the positive increase and for example the interest rate banks pay to borrow money has reached new heights in recent weeks.
Following the increase, the BN Bank’s best mortgage rate remain at 2.35 percent.
– Although our costs of borrowing money have increased, we waited as long as possible to increase the mortgage rate, says BN Bank CEO Gunnar Hovland.
Simultaneously with the rate increase the bank informs that it offers a new high-interest account with 1.5 percent interest rate on deposits over NOK 500,000.
Source: NTB scanpix / Norway Today