Suðuroyar Sparikassi raises interest rates

Suðuroyar Sparikassi will increase its interest rates, the Faroese broadcaster KVF reports. The change, which also includes an adjustment to service fees, takes effect on 31 August.

Føroya Banki and Betri Banki have already announced similar rate hikes, with Føroya Banki’s increase set for 27 July and Betri Banki’s for 15 August. All three institutions will raise rates by 0.25 percentage points.