DnB NOR will reduce interest rates on home loans up to 0.50 percentage points. After the adjustment, DnB NOR's best interest rate on home loans within 75 per cent of collateral value will be 3.10 per cent. DnB NOR has thus reduced interest rates by a total of 4.75 percentage points since the end of October 2008.
The decision to reduce interest rates is based on developments in money market rates.
Interest rates on deposits will also be reduced by up to 0.50 percentage points. Due to the low interest rate level, interest rates on large parts of the deposit portfolio will remain unchanged.
For new home loans, the new rates will apply from 12 May 2009. The new interest rates will enter into force on 22 June for existing loans and deposits.
DNB
Date: 11.05.2009
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