Savings accounts – earn interest on your savings
Save in an easy-access savings account with a variable interest rate, or in a fixed-rate account for a set term. Either way, you’ll get a competitive rate.
Our savings accounts
Savings account
Ideal if you want to save safely in the short term while keeping your money easily accessible.
- Unlimited withdrawals, no fees
- Earn interest from day one
- Easy monthly saving
Covered by the deposit guarantee (insättningsgarantin).
Fixed-rate savings account
Ideal if you want to save for the longer term and earn a competitive fixed rate.
- A secure way to save with a competitive rate
- Higher returns
- Terms from 3 months to 5 years
Covered by the deposit guarantee (insättningsgarantin).
Savings account
A savings account may suit you if you want to save in the short term while keeping your money fully accessible. With our savings account, you’ll always get a competitive rate. It’s easy to deposit and withdraw money whenever you like, with no fees. By saving in an interest-bearing account, your money starts earning interest from day one.
You can open an account quickly in our app or through online banking. Simply sign in with your BankID, enter your details and answer a few questions—then you can start saving straight away.
If you’d like to open a joint savings account, all account holders need to log in and identify themselves using BankID.
Fixed-rate savings account
A fixed-rate savings account may suit you if you’re saving for the longer term. With a fixed-rate savings account, your money is locked in at a fixed interest rate for a set term. You get a guaranteed return and can often earn a higher rate than on an easy-access savings account.
You can choose a term from 3 months up to 5 years, and the same rate applies throughout the full term. Interest is paid out when the term ends. If you need to access your money early, withdrawals may be possible subject to a fee.
You can open a fixed-rate savings account from SEK 10,000. To open one, you’ll first need to have a savings account.
Our savings rates
Here you’ll find our current rates for savings account and fixed-rate savings account.
Variable or fixed interest rate?
Whether a variable or fixed rate is right for your savings depends on your needs.
A variable rate gives you flexibility, allowing you to withdraw money whenever you need it. It may suit you if you want easy access to your savings, for example for unexpected expenses.
A fixed rate often offers a higher return, but your money is tied up for a set term and withdrawals aren’t available during that period. This can be a good option if you’re saving for the longer term. Your rate stays the same throughout the fixed term.
Combining both can be a good way to balance flexibility and stability—keeping some savings easily accessible while locking some in for a longer term. It may also give you a slightly higher overall return than keeping all your savings in a variable-rate account.
The deposit guarantee (Insättningsgarantin)
Our savings accounts are covered by the Swedish deposit guarantee scheme, administered by the Swedish National Debt Office (Riksgälden). This means that if SBAB were to become insolvent, your savings would be protected by the state.
Compensation is available up to SEK 1,150,000 per person, per bank or institution.
Frequently asked questions about savings account
How do I open a savings account with SBAB?
You can open an account quickly in our app or through online banking. Simply sign in with your BankID, enter your details and answer a few questions—then you can start saving straight away.
If you’d like to open a joint account, all account holders need to log in and identify themselves using BankID.
Who can open a savings account?
To open a savings account, you must be at least 18 and registered as a resident in Sweden. Your name and Swedish address must be registered in the population register, as we use this information to verify your identity.
If you have protected personal data, please contact us on 054-17 71 00 and we’ll be happy to help.
How does interest work on a savings account?
Interest on a savings account means you earn a return on the money you save. Interest is calculated daily based on your account balance. When your interest is paid depends on the type of savings account you have.
For our savings account, interest is paid annually between 30 December and 1 January and covers the interest earned during that year.
For our fixed-rate savings account, interest is paid at the end of the chosen term.
With each interest payment, you may earn interest not only on the money you’ve deposited, but also on previously paid interest—this is known as compound interest.
You may need to pay tax on interest earned above SEK 100.
Do I earn interest monthly on a savings account?
No, we don’t pay interest monthly. For our savings account, interest is paid once a year. For our fixed-rate savings account, interest is paid when the chosen term ends.
What happens if the savings rate changes?
If we change the interest rate on our savings account, the new rate will apply to all customers—both existing customers and those opening a new account. The new rate takes effect from the date the change comes into force.
If we change the interest rate on our fixed-rate savings accounts, the new rate will only apply when you open a new fixed-rate account or choose to renew your term. If rates change during your fixed term, your agreed rate will remain the same until the end of the term.
What does the deposit guarantee (Insättningsgarantin) mean?
Our savings accounts are covered by the Swedish deposit guarantee scheme (Insättningsgarantin). This means your money is protected by the state up to a certain amount if the bank or institution where you hold your savings were to fail. Protection covers up to SEK 1,150,000 per person, per institution.
If you hold a joint savings account, each account holder may be covered up to the maximum amount for their share of the balance. If you hold multiple savings accounts with the same institution, the total protection is still limited to SEK 1,150,000 per person.
Compensation is paid by the Swedish National Debt Office (Riksgälden).