InterestExtra Account

Interest is determined for each offered period based on the situation in the fixed income markets. 
The deposit period consists of a sales period and an InterestExtra period. 

Interest for the sales period

Interest is fixed at 0.00 %. Interest is calculated on the lowest balance of the month by calendar month. No interest is paid for the account's opening and termination month if the funds have not been in the account for the entire opening or termination month.

Interest for the InterestExtra period

Interest for each InterestExtra period is determined in advance at the beginning of the sales period. Interest is fixed for the entire 12-month period and it is paid on the lowest balance of the InterestExtra period according to calendar days. 

Interest is paid on the savings that are in the account no later than on the last day of the sales period. After the 12-month InterestExtra period, the account continues automatically with the sales period interest. The interest rate for the possible following InterestExtra period is determined during the sales period. You can make deposits exceeding the maximum amount determined for the InterestExtra period; the exceeding amount is paid interest according to interest during the sales period.

Impact of withdrawals on interest calculation

You can withdraw funds from your InterestExtra account without expenses at any time whenever the need arises. The funds withdrawn during the ongoing 12-month InterestExtra period do not accrue interest from the start date of the InterestExtra period to the withdrawal date. 

A withdrawal decreases the interest rate agreed at the beginning of the interest period by 1/12. The deduction of the interest rate is made only once in a calendar month irrespective of the number of withdrawals made in that calendar month. The decreased interest rate is paid on the remaining capital from the beginning of the InterestExtra period.

The deduction of the interest rate is equal in size during different calendar months. The deduction is calculated of the original interest rate determined at the beginning of each InterestExtra period. Withdrawals can be made at Nordea branches. You can make credit transfers from your InterestExtra Account with your access codes in Netbank or through Mobile Bank, which can be downloaded to a mobile device..

Taxation

In Finland, deposit interest paid on accounts is subject to tax-at-source.