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Hanna Skogli Andersson
Updated 2026-06-25 15.12 | Published 2026-06-10
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If you save using the interest on interest effect this spring, you give your money a proper chance to grow bigger.
Below we go through three important points to know to maximize your savings, as well as list banks with favorable interest rates right now.
Earning interest on your money is a good way to hedge your savings against inflation. If you have your money in a so-called “zero account”, i.e. a savings account without interest, inflation will erode the value over time. Therefore, it is important to ensure that your savings actually grow over time.
And thanks to the interest on interest effect, you can achieve just that. It is a method that is best suited for somewhat more short-term savings, such as a buffer or holiday savings.
However, be careful to think through whether you will need free access to the money in case something unexpected occurs. Many banks offer both a fixed and a variable interest rate, so see what suits you and your life situation.
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3 points that affect your interest on interest
Which type of savings you should choose depends entirely on your needs. However, these are three important factors to keep in mind to maximize your savings.
Banks that offer up to a favorable interest rate
There are many banks that offer interest on their savings accounts. However, the larger banks have Swedbank, SEB and Nordea generally lower savings rates than many upstarts. Below we have selected banks that either offer a favorable interest rate or an interest rate paid monthly.
We update the list continuously, the last update was made on June 25.
Marginalen Bank
Marginalen Bank offers different savings accounts with different commitment periods and interest rates. In their unbound savings account, you can make withdrawals and deposits when it suits you, and the savings account is covered by the deposit guarantee. If you prefer to tie up your savings for a certain period of time, you can tie up between 3 months and 5 years with the bank. Their restricted savings accounts are also covered by the deposit guarantee.
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Hoist Spar
At Hoist Spar, you can choose between several fixed savings accounts with fixed terms from 3 to 36 months. The bank does not currently have variable savings accounts, but is primarily aimed at those who can imagine locking up the money for a period in exchange for a fixed interest rate. The savings are covered by the government’s deposit guarantee, and you can choose to have the money paid out or reinvest it when the commitment period expires.
ADVERTISEMENT: Read more about Hoist savings accounts here!
Myntro
Bank Myntro currently only offers fixed savings accounts. All accounts with the bank are covered by the deposit guarantee and no account has any hidden fees. The minimum deposit is SEK 5,000 and you can easily and securely open an account on the bank’s website.
ADVERTISEMENT: Read more about Myntro savings accounts here!
EP Bank
At EP Bank, you can choose between fixed and variable savings rates. It costs nothing to open a savings account, and on their variable savings you have completely free withdrawals. All accounts are also covered by the government deposit guarantee.
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Nordic
At Nordiska, you can choose between several different savings accounts depending on how flexible you want to save and whether you want to tie up the money or not. The bank offers both uncommitted accounts with free withdrawals and fixed accounts with commitment periods from 3 months up to 5 years. All savings accounts are covered by the government’s deposit guarantee.
Read more about Nordiska’s savings accounts here!
Moan
Moank offers both a savings account with variable interest and a savings account where you tie up the money and interest with the bank for 3 months. The unbound variant has no lock-in period and you can make free withdrawals at any time. You have the option of making withdrawals on the tied variant as well, but then a cost is added. Both variants are covered by the deposit guarantee.
Read more about Moank’s savings accounts here!
Avid
Avida Finans offers variable interest and unbound savings. The account is free of charge and covered by the government’s deposit guarantee. The account has no lock-in periods or hidden fees, and you can deposit and withdraw money as often as you like.
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Serafim Finance
At Serafim Finans, you can choose between a variable savings account and several fixed options, which may suit you who want to lock in the interest rate for a period. The savings are covered by the government’s deposit guarantee and the bank offers interest from the first kroner.
ADVERTISEMENT: Read more about Serafim Finans savings accounts here!
Coeli
Coeli is a Swedish investment organization founded in 1994. They offer different savings accounts that suit different needs, the minimum deposit in their fixed interest accounts is SEK 20,000. All accounts are covered by the government deposit guarantee.
Read more about Coeli’s savings accounts here!
Banks with monthly savings interest
Lea Bank
Lea Bank offers advantageous uncommitted accounts with high interest. Opening savings accounts is completely free and there are no hidden costs. Worth considering is that the bank offers a higher interest rate if you can imagine waiting 31 days to get your money paid out. All savings accounts are covered by the Norwegian deposit guarantee.
ADVERTISEMENT: Read more about Lea Bank’s savings accounts here!
Qliro
Qliro offers both fixed and variable savings accounts, but it is only on the variable savings account that you get the interest paid each month. Regardless of which savings account you choose, it is covered by the government’s deposit guarantee.
Read more about Qliro’s savings accounts here!
Brocc
With Brocc’s savings accounts, you can choose whether you want a variable or fixed interest rate. Regardless of which type of savings you choose, the interest is paid out monthly, which maximizes the interest on interest effect. The variable savings account is completely free of fees. If you want to withdraw money early from a fixed interest account, you pay a fee of 2.50%. All accounts are covered by the government deposit guarantee.
Read more about Brocc’s savings accounts here!
Morrow
At Morrow, you can only save unbound, and on that account you currently get 2.20% savings interest. The account is free of fees and covered by the government’s deposit guarantee. In addition, you get access to More Experience, a service that gives you access to benefits, discounts and unique experiences.
ADVERTISEMENT: Read more about Morrow’s savings accounts here!
Multitude Bank
At Multitude Bank, you can save with variable interest, where the interest is paid out monthly and creates an interest on interest effect. The account is free of charge and you get unlimited free withdrawals when it suits you. The savings account is covered by the deposit guarantee.
Read more about Multitude Bank’s savings accounts here!
Advancing
Avanza is perhaps one of the best-known savings providers on the market in addition to the big banks. At Avanza, you are offered flexible savings with completely free deposits and free withdrawals. The savings account has no maximum amount and is covered by the government’s deposit guarantee. The account is free of charge and you have the option of setting up a direct debit if you want to save monthly.
Read more about Avanza’s savings accounts here!
Nordnet
On Nordnet’s variable savings account, you get savings interest from the first deposited kroner. The interest is paid out every month and the account is covered by the deposit guarantee. The account is free of charge and you get an unlimited number of free withdrawals and deposits. Via the calculator on the website, you can easily see how much your savings will grow with different interest rates.
Read more about Nordnet’s savings accounts here!
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