Growth Inflation-linked Account - 90 days’ notice of withdrawal

Changes to the Seðlabanki Íslands rules, which come into effect on 1 June, mean that we are now able to offer inflation-linked savings where you don’t have to wait years to withdraw your money. The Growth Inflation-linked Account is already available in the app and online banking meaning that you can open an account immediately. From 1 June you can apply to make withdrawals from the account and receive your money 90 days later.

Over the last 12 months inflation has measured 9.9%. Linking your savings to the rate of inflation is a way of maintaining the value of your savings as deposits in the account increase and decrease in line with inflation/deflation.

Set up an inflation-linked savings plan

The Growth Inflation-linked Account is also an excellent way to make savings. You can set up a regular savings plan in the app or online banking.