Morrow Bank

Best offers of Morrow Bank from Norway

3.03
%
AER
Demand Deposit Account | EUR

Earn up to 3.03% AER and get the the flexibility of a Demand Deposit Account from Morrow Bank. You can open an account with as little as €1.

All Demand Deposit Account offers from Morrow Bank

Interest rate Term Currency
3.03 % AER
Demand Deposit Account EUR

About Morrow Bank

Morrow Bank, an Norwegian-based online bank, specializes in consumer finance, offering a versatile range of financing solutions. With expertise spanning a decade, this fully digital bank serves customers in Sweden, Norway, and Finland. Originally established as Komplett Bank in 2013 under renowned e-commerce group Komplett Group, Morrow Bank has been listed on the main index of the Oslo Stock Exchange since 2017.

Embracing a commitment to seamless digital experiences, Morrow Bank follows a strategic expansion plan in Nordic markets, providing various loan products, credit cards, savings accounts, and insurance. With a focus on tomorrow’s possibilities, Morrow Bank embodies optimism, mirroring its name’s inspiration—an old spelling of “tomorrow.”

Offer details

Effective rate
3.03 % AER
Nominal rate
3.00 % AER
Availability
Available anytime
Interest payout
Quarterly
Interest taxation
Annually
Compound interest
Yes
Important information
The interest is capitalised quarterly
Currency
EUR
Min/Max investment amount
1 – 100,000  EUR
Prolongation
not possible
Withholding tax
There is no withholding tax in Norway for non-residents.

Security and deposit guarantee

Deposits with Morrow Bank, including interest, are legally protected by the Norweigan Deposit Guarantee Fund up to an amount of EUR 100,000 for customers outside Norway. This amount also includes possible deposits and/or savings accounts held outside Raisin Bank. This protection covers the deposits of all natural persons, not only Norweigan citizens. In the event of an intervention by the Norweigan DGS, the payment shall be made in Euro to your Raisin Bank Account. In this case, the exchange rate applied will be the one valid at the time of the bank’s administrative settlement process. Within the European Union, the minimum requirements for these guarantee funds, for each member state, have been harmonised by EU Directive 2014/49/EU.

Tax process and documents

In Norway, non-residents are exempt from withholding tax on interest earned on deposits and savings accounts. As an Irish citizen, any interest earned in a foreign savings account will be subject to Deposit Interest Retention Tax (DIRT). You must declare this as part of your annual tax return.