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InterestExtra Account

The product is not for sale. If you want saving to be flexible and easy, an InterestExtra Account is perfect for you. You will also accrue higher interest on your savings. Interest is determined for each offered period based on the market situation. You can use your savings in your InterestExtra Account whenever the need arises.

Now on sale only to holders of accounts maturing on 31 August 2020

Details
Sale period 1 September 2020 - 29 September 2020 
InterestExtra period1 October 2020 - 30 September 2021  
Minimum deposit500 euros 
Maximum deposit100 000 euros
Interest for the sale period0.00 %
Interest for the InterestExtra period0.03 % * 

* The funds in the account are freely available without any withdrawal limits.
A withdrawal from the account affects the determination of interest in such a way that the interest for the InterestExtra period is paid on its lowest balance.

Frequently asked questions about changes to InterestExtra Accounts as of 1 December 2020

We are revising and simplifying our account selection. Therefore the InterestExtra Account intended for our personal customers will be removed from our offering. For this reason, InterestExtra periods will no longer revolve automatically after 1 December 2020. At the same time, InterestExtra Accounts with zero account balance will be closed. We also sent letters explaining the changes to our customers in September. 


Why are we making changes to the InterestExtra Account? We are revising and simplifying our account selection. Therefore the InterestExtra Account intended for our personal customers will be removed from our offering.
What will change and when? 
  • As of 1 December 2020, the 12-month InterestExtra periods will no longer revolve automatically and the funds in existing accounts will no longer be rolled over to a new InterestExtra period. However, InterestExtra Accounts will remain valid until further notice. The deposit interest will be fixed at 0.00% in accordance with the interest terms and conditions for the sales period applied to each account.
    • Please note that InterestExtra periods that have begun before 1 December 2020 will continue normally until the end of the period, after which the account will remain valid until further notice and its deposit interest rate will be fixed at 0.00%.
  • On 1 December 2020, we will close all InterestExtra Accounts that have had a zero balance since 31 July 2020. If the account still has no balance on 1 December 2020, it will be closed automatically without the account holder having to do anything. 
When will the last 12-month InterestExtra period begin? The last new 12-month InterestExtra period will start on 1 November 2020 for the accounts that are included in this batch, and it will mature on 31 October 2021.
Why did I receive a letter in September even though the interest-earning period of my InterestExtra Account will not end before next year?Nordea has a statutory obligation to inform its account holders in advance of changes that concern them. In order to treat all our InterestExtra Account holders fairly, we informed all of them at the same time in September, although a notification will be sent to you as usual closer to the time your account matures, reminding you that your InterestExtra period will no longer be rolled over.  
Why did I receive a letter in September 2020 even though I no longer have an InterestExtra Account? The letters were sent to all customers who held an account on 31 July 2020. 
What do I need to do?  
  • On 1 December 2020, we will automatically close all InterestExtra Accounts that have had a zero balance since 31 July 2020 – you don’t need to do anything.
  • If your InterestExtra Account contains funds, we recommend exploring alternative means of saving by the time the final InterestExtra period ends. You will find several options for saving and investing in Nordea’s selection. Our investment advisers will discuss matters concerning saving and investment with you, and we will prepare an investment plan that best suits your needs. You can request that an investment adviser contact youOpens new window. You can also easily make a savings plan yourself with the help of our robo-adviser NoraOpens new window.

Your benefits

  • You can start saving with 500 euros.
  • With this account, saving is easy and convenient.
  • You get higher interest on your savings.
  • You can use your savings in your InterestExtra Account whenever you need them.
  • An InterestExtra account is a safe saving alternative.
  • Your account is covered by the deposit guarantee.

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.

Terms and conditions
Prices and deposit interest