Indó raises rates after central bank increase

Icelandic savings bank Indó has raised its deposit and lending rates by 0.25 percentage points following the Central Bank of Iceland’s rate increase, mbl.is reports.

The changes apply to debit accounts, savings pots, Indó loans, overdrafts and transaction splitting. Indó said the increases fully reflect the central bank’s decision and take effect immediately.

The new rates are:

Debit accounts: 2.20%

Savings pots: 6.60%, or 6.80% annually

Indó loans: 12.00%

Overdrafts: 14.50%

Transaction splitting: 14.50%

The “last food basket” will remain available as an interest-free loan, regardless of the changes.