0.15%

Having now been officially adopted by the Norwegian government, it was time to get a bank account.

We wandered down to The Bank of Norway (DNB – Den Norske Bank).

I had all the right ID, passport, and fødselsnummer; and my signature was a spot on match.

Fifteen minutes later I was the proud new owner of my very first Norwegian bank account.

I can transfer up to 300,000 NOK each month to any (overseas) account and can withdraw money for free.  EFTPOS transactions cost 2.50 NOK ($0.5 NZD).

I even get paid interest. 

0.15%.  That’s not a typo.

So, if I save 100,000 NOK (around $21,000 NZD), after a year I’ll have earned 150 NOK in interest, less tax.  That’s almost enough to buy a coffee and cake for the two of us.

If I want to earn more interest I can open a special savings account also for free, where I will be paid 0.75% interest.

With home loan rates hovering around 3%, it’s no surprise most people here own their homes, and rentals seem so hard to come by.

Saving money is just, like, so not cool.

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One Response to 0.15%

  1. Mikke Mus says:

    A perfect match??

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