Nordea will follow the lead of several other large banks in lowering interest rates on loans by up to 0.15 percentage points.
Just before Easter several banks lowered their interest rates as a result of Norges Bank lowering its key rate to 0.5 percent. Danske Bank was the first to promise new customer groups rate down to 1.9 per cent on the mortgage. Later on the same day DNB made a similar promise, writes Manager.
Since then both Handelsbanken and Sparebank 1 SMN have followed suit with rate cuts.
On Tuesday afternoon Nordea decided to follow the lead of the other banks and will be making cuts in interest on loans to individual customers. The best rates in Nordea will be at 1.99 percent when changes take effect from 31 May for existing customers and from March 31 for new loans. Nordea offers fixed interest for three years to 1.95 percent.
Source: NTB scanpix / Norway Today