The interest rate on student loans from Lånekassen rises

Money fixed interestNorwegian bank notes, Photo: Norway Today Media

From the 1st of May, all fixed interest rates in Lånekassen will be higher than the floating rate.


The floating rate will then be 2.159 percent, Lånekassen states in a press release.

Fixed interest rates will be higher than the floating rate from 1st of May. The interest rate will be 2.315 percent with a three years’ bonding time, 2.677 percent for five years and 3.144 percent for ten years.

Compared to today’s level, all three fixed interest rates on the student loans increase by between 0.16 and 0.24 percentage points. The five-year rate rose the most, from 2.433 percent to 2.677 percent.

“In the past year, fixed interest rates have been very stable and low. Now is the first time in over a year that there is a major interest rate change,” says senior adviser Magnus Andersen in the loan fund.

Customers wishing to tie interest rates from 1 May may do so during 10 to 17 April. Anyone who will apply for a fixed interest rate, can do this on the Lånekassens website.

A total of 615,300 people have loans through Lånekassen and most have floating interest rates on their student loans, while 57,200 have fixed interest rates.


© NTB Scanpix / #Norway Today