The fixed interest rates of loans are determined according to the loan period on the basis of the current interest rate level prevailing in the monetary and capital markets. They can be fixed either for the entire loan period or for a shorter period separately agreed on. Fixed interest rates are applied to both personal customers’ housing loans and corporate financing.
Fixed interest rates used in housing loans
You can choose an ordinary fixed rate for your housing loan.
Ordinary fixed rate
You can fix the ordinary interest rate for 3, 5, 10 or 15 years. If the repayment period of your loan is longer than the fixed interest rate period, Nordea Prime + the margin will be switched as the interest after the fixed rate period. When the interest rate on your loan is fixed, you know your interest costs beforehand for the entire fixed interest rate period.
If you have an ordinary fixed rate on your loan, you will pay compensation to the bank for early repayment of your loan if the interest rate of a corresponding new loan is lower than your loan interest. Similarly, you are not compensated even if the interest on a similar new loan was higher than on your loan.
Interest rate on a Fixed-Term Time Deposit Account
The interest rate on a Fixed-Term Time Deposit Account is determined on the basis of the investment period and amount.
Interest rate on a current account
Nordea may revise the interest rate on a current account in accordance with the account terms and conditions by notifying its customers thereof at least two months beforehand. Nordea Bank Abp decides on any changes to the interest rate.