Fixed interest rates, which will apply from May 1, will be:
• 4,227 percent. for a three-year fixed term (up from 4,054%)
• 4,131 percent. for a five-year fixed term (up from 3,928%)
• 4,112 percent for a ten-year fixed term (increase from 3,928 percent)
The floating student loan rate is currently 3,338 percent, but will increase to 1 percent from May 3,532.
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Profitable binding of the last three-year period
There are few people who choose a fixed student loan interest rate. Currently, Lånekassen has 19 fixed rate payers and 600 variable rate payers. This means that only three percent of customers have a fixed rate, which is also the lowest percentage since the introduction of fixed rates.
“In most cases, it has historically been profitable to have a variable student loan rate, but some have profited from fixing the interest rate. This was the case, for example, for those who opted for a three-year fixed interest rate from July 1, 2020, a few months after the outbreak of the coronavirus pandemic. The fixed rate at Lånekassen was then significantly reduced compared to the previous offer and many more people than usual opted for this solution at that time.
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Student loan interest rates vary by market
Interest rates at Lånekassen are market controlled and are set by the average of the top five mortgage rates. 0,15 percentage point is subtracted from this average, which gives Lånekassen a lot of interest. For variable interest rates, the observation period is two months, with a two-month lag before the interest rate comes into force. For fixed interest rates, the observation period is one month, with a one-month lag before the interest rate becomes effective.
Customers who want to block the interest rate from May 1 can do so in the period of April 10-17.
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Source: Lånekassen
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