Sparebank 1 SMN increase their interest rates

Sparebank 1 SMN are about to the increase their interest rates on new loans from 26th September and on existing loans from 9th November. Finn Hugan, CEO of Sparebank is unclear about the extent of interest rate on deposits.

Trøndelag’s largest bank announced Monday that interest rates on mortgages increased by 0.25 per cent. The change applies to new customers from September 26 and to existing customers from November 9th. The bank’s lowest mortgage rate is 2.40 per cent after the increase.

The bank writes in the message that it will send “interest rate adjustment on individual deposit products by up to 0.25 per cent”.

Last week on Thursday another leading bank, Norges Bank raised its policy rate by 0.25 percentage points from 0.5 to 0.75 per cent.

Loans gonna be heavy on pockets likely from this month.

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