DNB Raises Mortgage Interest Rates

DNB Bank ASA has announced an increase in interest rates for home mortgages and deposits following a decision by Norges Bank to raise the key policy rate.

The bank will increase rates by up to 0.25 percentage point. This move follows the monetary policy meeting held by Norges Bank on May 6, 2026, where the key policy rate was increased by 0.25 percentage point.

The implementation of these new rates will occur on different timelines depending on the customer’s status. For new mortgages and deposits, the updated interest rates will take effect on May 12, 2026. For existing loans and deposits, the changes will apply starting July 12, 2026.

Impact on Specific Savings and Loan Products

DNB specified that certain products will be handled differently under the new rate structure. Customers purchasing their first home will continue to be offered the bank’s best floating mortgage rate, which is set at 4.99 per cent.

The bank is also adjusting rates for savers. The interest rate for deposits within the BSU home savings scheme will be adjusted in accordance with the policy change, moving to 6.35 per cent.

Bank Response to Economic Climate

Maria Ervik Løvold, Group Executive Vice President of Personal Banking in DNB, linked the necessity of these adjustments to a volatile global environment.

We have recently seen just how quickly expectations and realities can change and we are now seeing how war and unrest in the world are affecting us here in Norway. We know that many of our customers are seeking advice and information during these uncertain times, and we will continue to provide sound advisory services and guidance during a period that is likely to feel complex and difficult to navigate for many.

Maria Ervik Løvold, Group Executive Vice President of Personal Banking in DNB

The bank indicated that it intends to maintain its advisory services to help customers manage the financial complexities associated with these rate changes and the broader economic uncertainty.

Customer Notification Process

DNB stated that all customers affected by the interest rate adjustments will be notified directly. Information regarding the new rates will be delivered either through the online banking portal or via a letter sent by post.