State Educational Loan Fund lowers fixed interest rates

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The State Educational Loan Fund (Lånekassen) lowers fixed interest rates significantly from 1 July. Most three-year rates fall, which goes down just over 0.7 percentage points.

The new fixed interest rates will be 1.63 percent for loans with a three-year maturity, 1.74 percent for loans with a five-year maturity, and 2 percent for loans with a ten-year maturity.

The floating interest rate from July 1 is 2.16 percent.

“We expected a significant decline now as several banks, as a result of the Coronavirus situation lowered mortgage rates in late March, and our interest rates – which are market-based – are adjusted somewhat later than the banks,” says Nina Schanke Funnemark, CEO of State Educational Loan Fund

© NTB Scanpix / #Norway Today

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