Help with savings and pensions
Many people have questions about
Aksjesparekonto (Share savings account) is a joint account for your equity funds and shares. With a share savings account you can buy, sell or exchange shares and equity funds without triggering tax along the way. You only pay tax when you take out profits.
A share savings account is suitable for anyone who is a regular saver. Whether you’re already saving in shares and equity funds, or if you plan to start doing so.
- You can withdraw up to the amount you have deposited in the account at any time, tax free.
- You only pay tax when you take out profits.
- Please note that you do get deductions for losses until the account is closed
- Does it cost anything to open a share savings account?
* It is free of charge to open a share savings account, but the underlying products cost the same inside the share savings account as outside
The authorities have introduced a share savings account to inspire Norwegians to save more.
Here you can easily bring together all your investments in equity funds, shares and equity certificates.
Share savings account gives you the option to buy, sell or exchange investments without having to pay tax on profits along the way.
You only pay tax when you take out profits.
You only pay tax when you take out profits.
You can quickly and easily open a BSU home savings scheme account in your online bank.
Go to “Everyday banking and loans” and “Open new account”.
Select “Open BSU home savings scheme”. You will receive a confirmation email when your account has been opened.
The deadline for subscription and redemption of shares to get today’s price is 12:00.
Subscriptions and redemptions received after 12:00 get a price the following working day. For funds that invest in Asian markets, the deadline is 24:00 to get the next day’s rate.
NB! For trades in external mutual funds and DNB mutual funds established in Luxembourg, it will take a few extra days to get a price.
We’ve put together what our customers often wonder about in regard to our equity trading service, prices, issues and much more.
BSU home savings scheme
You can take out the amount you have deposited into the BSU home savings scheme this year under Everyday banking and loans and Transfer between own accounts, in the online bank.
Remember that the tax deduction is based on the balance as of 31.12, so re-deposit the money well in advance of this if you want the tax deduction.
A BSU home savings scheme can be transferred in its entirety to BSU at DNB. There is no transfer agreement between the banks for housing savings beyond the ordinary BSU home savings scheme.
You can close your BSU home savings scheme account in the online bank. Go to Everyday banking and loans and Close account.
Click on Close a BSU home savings scheme. You will receive a confirmation email when the account is closed.
When you close your BSU home savings scheme account, you must remember that it is not possible to open a new account of the same type later, nor at another bank.
If you wish to use your BSU home savings scheme account as a debit account for your home mortgage, the account must first be closed.
Do this in the online bank by going to:
- Everyday banking and loans
- Close account
- Close a BSU home savings scheme
When the BSU home savings scheme is not enough to cover the next maturity date for the loan, you must remember to change the debit account for the loan.
Questions and answers
You can save up to NOK 27 500 a year (from 01.01.21) and a total of NOK 300 000 in a BSU home savings scheme.
The money you save in a BSU home savings scheme should mainly be used to buy a new, permanent home or to pay down a mortgage on a home that you have bought after the BSU home savings scheme was created.
If you withdraw funds saved in the BSU home savings scheme and use them for other than approved purposes, it will be considered a breach of contract and the BSU home savings scheme agreement will be terminated. The bank can then close your BSU home savings scheme account and transfer the remaining balance to yoiur current account.
The tax authorities will demand that you refund the tax deductions you have received.
Yes, from 1 July 2021, you can use the BSU home savings scheme for renovation/maintenance of your own home.
The BSU home savings scheme can be left alone once it reaches the maximum savings amount or once you turn 34 for as long as you want. You can freely use interest accrued from the income year in which you turn 34.
At the age of 34, the account receives an interest rate corresponding to the ordinary savings account.
The savings deposit is capital that is subject to tax. Interest on the savings deposit is taxable income in the year the interest accrues.
You’ll get a deduction in tax of 10% of the annual savings amount, a maximum of NOK 2 750 (from 01.01.23). To claim a tax deduction, you must be a personal taxpayer, subject to tax and resident in Norway.
BSU Start (home savings scheme) does not give tax deductions for the saved amount.
Boligspar Ekstra
You can create Home Savings Extra in the online bank.
You can close your Home Savings Extra account in the online bank.
Go to Everyday banking and loans and Close account. Click on Closing your Home Savings Extra account. You will receive a confirmation email when the account is closed
If a guardian wishes to close the account, +47 915 04800 must be contacted.
Tips
When you close your Home Savings Extra account, you must remember that it is not possible to open a new account of the same type later.
Saving in an account
Saving in an account is a safe and flexible way to save.
Sparekonto Pluss is the savings account that gives you the best interest rate when you have NOK 500 000 or more to set aside. You’ll get one of the bank’s best savings rates, up to deposits of NOK 2 million. The money is available when you need it
It is not possible to make payments from the account. It is only possible to make a transfer between your own accounts at DNB.
It is not possible to open Sparekonto Pluss in the mobile banking app.
Questions and answers about savings in accounts
Saving in an account is a safe and flexible way to save.
Sparekonto Pluss is the savings account that gives you the best interest rate when you have NOK 500 000 or more to set aside. You’ll get one of the bank’s best savings rates, up to deposits of NOK 2 million. The money is available when you need it
It is not possible to make payments from the account. It is only possible to make a transfer between your own accounts at DNB.
It is not possible to open Sparekonto Pluss in the mobile banking app.
Start saving
share savings account
Share savings account
A share savings account makes it easier and more favourable for you to save in shares and equity funds. Here you can buy and sell shares and equity funds, as well as exchange equity funds, without paying tax on profits as long as the profit is kept in the share savings account.
You can take out your cost price (acquisition value) at any time, tax-free. If you take out more than the cost price, the excess will be tax-liable after deducting any shielding deduction.
Taxable withdrawals are taxed as share income according to the applicable rates. A deduction for any losses cannot be made until the account is closed.
All private individuals who are domiciled in Norway for tax purposes can set up a share savings account. US citizens must also be permanently resident in Norway.
A share savings account is a distinctively Norwegian scheme, and if you are domiciled for tax purposes in a country other than Norway or are liable for withholding tax to another country for dividends from foreign companies, you should clarify with the Norwegian Tax Administration or a tax adviser whether the share savings account is suitable for you.
You can easily open a share savings account in the online bank. If you need assistance, you can call us on +47 915 04800.
To set up a share savings account for children, see here for guidance.
You can trade in listed shares, equity certificates and exchange traded funds (exchange traded funds) in companies resident in countries within the EEA. For example, Frontline falls outside because it is not registered within the EEA even though it is listed on the Oslo Stock Exchange.
You can trade a large selection of equity funds. It is a requirement that the equity fund must have more than an 80% proportion of shares. DNB Aktiv 80 is such a fund, but for example, the balanced fund DNB Aktiv 50 is not subject to this scheme as its proportion of equities is too low.
When you order a share savings account in DNB, you automatically get a bank account, a VPS account and a mutual fund account, all of which come under the share savings account.
All of the funds within these accounts will collectively constitute your share savings account in DNB.
You can use the deposits in your bank account to trade exchange-traded shares, equity certificates and equity funds in the share savings account. To take money out of the account, it must be transferred to one of your other bank accounts at DNB.
When you buy Norwegian listed shares and equity certificates, these are registered in the VPS account. If you want to trade international shares, you need to open a foreign depository account (VP Utland Account) in the online bank. Open a VP Utland Konto by pressing the Savings and Investments tab, then Share Trading - My Page and the International Trade tab. Click on Create international trade.
With a mutual fund account, you are entered into DNB’s customer register for trading in equity funds.
Yes, when you order a share savings account at DNB, at the same time you can order the transfer of your existing share savings account at other savings providers to your share savings account at DNB.
If you have opened a share savings account with another provider, you can easily move your share savings account to us.
How do I move my share savings account?
At any time, you can transfer money from a bank account outside the Share Savings account to the bank account that is linked to the Share savings account.
As soon as you get confirmation that the money has been transferred, you can use it to invest in individual shares, equity certificates and equity funds that are available to trade within your share savings account at DNB.
You can buy and sell equity funds in the normal way in Mutual fund trading in the online bank or our own savings app, Spare.
When buying equity funds for your share savings account, select the fund account that is labelled: “Share savings account”.
You can buy and sell individual shares and equity certificates in the normal way in the equity trading service in the online bank or our own savings app, Spare.
When buying individual shares and equity certificates for your share savings account, select the VPS account labelled “Share savings account”.
The online bank or savings app automatically selects the right account and guides you through the buying process.
When buying individual shares and equity certificates for your share savings account, select the VPS account labelled “Share savings account”.
The online bank or savings app automatically selects the right account and guides you through the buying process.
Dividends from shares and equity funds are not taxed on an ongoing basis when distributed, but are included in the share savings account.
You only pay tax when you withdraw an amount including dividends is are larger than you originally invested.
Taxable dividends are adjusted downwards if you have unused shielding deductions in your Share savings account.
You can make withdrawals from your Share savings account at any time by transferring to one of your other bank accounts in DNB.
A share savings account cannot be used to make bill payments.
Yes, you can give away your Share savings account as a gift with tax continuity.
Yes, the share savings account is not considered to have ceased in the event of death/inheritance and can be taken over by the heir with tax continuity.
If you wish to close your Share savings account, you must first sell the holdings you have of mutual funds and shares in the Share savings account.
Upon termination, any total gain in the Share savings account will be taxed and any loss will be deductible.
The share savings account can be closed by filling out the “Complete share savings account” form and submitting this via the electronic submission of fund forms here. You’ll find the form under Share savings account further down the page in the link.
In Norway, we have rules on tax liability for latent gains on shares and mutual fund holdings the day before tax vacating (exit tax), when the gain is a certain amount. The person who moves away is obliged to submit a separate form to the Norwegian Tax Administration with the calculation of latent gains on shares and fund shares in the share savings account. The Exit Tax is due for payment when selling shares and mutual shares you owned when you moved away, even if they are in a Share savings account.
You can read more about these rules and find the form at Skatteetaten.no. After moving away, dividends and profits may be subject to tax in the country you are moving to. We recommend that you familiarise yourself with the rules in Norway and the country you will be moving to with the help of a tax adviser, so that you report the income correctly according to both countries’ rules and avoid double taxation.
Yes, that’s possible. Form for Authority to manage share savings account must be filled out.
Dividends received on shares owned in the Share savings account also have a deferred tax liability to Norway, in line with profits. Only when the entire deposit and shielding deduction has been taken out will the gains/dividends that are taken out be taxed as capital gains in the non-professional’s hand.
Note that if you receive dividends from shares in foreign companies, the company’s country may be entitled to withholding tax on the dividend. The amount of withholding tax the country has the right to deduct depends on this country's internal rules and the tax agreement between Norway and this country. To avoid double taxation, you are basically entitled to deductions for withholding tax that is deducted abroad when calculating Norwegian tax on the dividend, but because the dividend in a share savings account is not taxed until the entire deposit has been withdrawn from the share savings account, this credit deduction can be lost. If you wish to invest in foreign dividend shares, you should therefore carefully consider whether these shares should be acquired in the share savings account or outside. If you would like more information about this, you should contact a tax adviser.
To set up a share savings account for children, see here for guidance.
You can create a fixed savings scheme in your share savings account. When setting up a savings scheme in equity funds, you choose your share savings account as the Charge account and Mutual fund account. Then tick Make sure there are always sufficient funds for the savings scheme by withdrawing money from the following account to set up a standing order from another account, for example your usage account, into the share savings account bank account.
Share savings account and tax
Twice a year you will receive a report showing the balance and changes in value of your Share savings account. The report will be available in your inbox in the online bank.
DNB is responsible for tax reporting for the Share savings account.
This means that dividends, profits, losses and assets will be pre-filled in on your tax return.
In the Share savings account, the shielding basis for the individual year is set to the lowest deposit balance during the year, plus unused shielding on 31/12.
The deposit constitutes the historical cost price of the securities plus any cash deposits.
Balances in the Share savings account are taxed in the same way as cash, shares and equity certificates and shares owned outside the Shares and mutual funds scheme receive a discount in the capital basis, see Skattetaten.no for more information.
The amount that can be withdrawn tax-free* from a share savings account is shown in the Online Bank and the Spare app.
- The online bank: Shown in the “Overview” under Savings and Investment/Share savings account.
- The Spare app (Android phone): Shown under ASK and “Your holdings”.
- The Spare app (Apple phone) Shown in two places:
- Press “Me” in the bottom right corner and further Share savings account (ASK).
- Mutual fund icon and further share savings account in the middle of the page.
*Value total/your holdings
Profit: If the value of the ASK is greater than tax-free withdrawals, there is a profit
Loss: If the value of the ASK is smaller than tax-free withdrawals, there is a loss
Questions and answers about Morsom sparing (fun saving schemes)
There is no separate interest on Morsom sparing (fun saving schemes). The interest rate you get depends on which savings goal account you choose.
If it is a regular savings account, you will receive the interest rate that applies to that account.
There are no separate withdrawal limit rules for Morsom Sparing. If you choose a normal savings account account, it will have an unlimited number of withdrawals.
All savings will be made in whole kroner, we have no minimum amount at rounding off, but we check that there is available amount cover before the savings is carried out.
The minimum fixed amount is set at NOK 2 per event. The impulse saving has a limit of NOK 10 000, to reduce the number of wrong savings.
Your friends don’t need to be customers in order to be invited, but to participate in Morsom Sparing they need to have a savings account in DNB.
If the friends you’re inviting don’t have it from before, they can easily get it by logging in with BankID from another bank, following the instructions and setting up a savings account in Morsom Sparing.
Yes, you will see all of the transactions for the savings goal to the right of the Morsom sparing (fun saving schemes).
The savings target can be changed along the way. You do this by going into the savings target itself, selecting the gear menu by the savings target name, and making the change you want.
In the joint savings target, only the administrator (the person who created the savings target) can change.
If all the savings targets have savings by using cards activated, they will. That is, if you have chosen to save NOK 2 for three savings you will save NOK 6 every time you use the card.
Complete the savings goal by entering the savings goal, selecting the gear menu and then “Complete savings goal”.
For shared savings goals, only the Administrator has the opportunity to complete/stop the savings goal. You can easily choose to withdraw from a joint savings goal.
You do this by selecting the gear menu that is next to you as a participant in a shared savings goal, and choose End participation.
Mutual funds
A mutual fund is for anyone who wants to save for some time. Mutual funds offer better returns than a bank account.
It’s easy to give a fund as a gift.
NB: You can only buy a fund as a gift in the online bank from a desktop/computer.
The only thing you need is the name and national identity number (11 digits) of the recipient.
The minimum amount is NOK 100 and you can choose whether you want to give a lump sum or set up monthly savings.
Log in to the online bank
Select a category Saving and investing.
Go to Sell mutual funds.
Select the mutual fund you want to sell. You can sell the entire value or a chosen value.
Confirm the sale.
To access others’ mutual funds, the owner of the fund and account signatory must fill in an authorisation form (PDF).
Then go to Other forms and Signatory authority.
VPS account.
You automatically get a VPS account if you order the online equity trading service from us.
Pension agreements at DNB
From group paid-up policies, pensions from the employer and individual pension savings with tax assets (individual pension savings (IPS)), you can start making withdrawals from the age of 62.
Individual pension schemes (IPAs) from 64 years of age.
Endowment insurance can be removed whenever you want.
You get a bigger pension if you save long-term. DNB has many different savings solutions for pension savings.
If you also have a defined-contribution pension, you can also take action on your own pension by changing the defined-contribution profile of your pension savings.
No, the tax authorities will automatically send this to DNB Livsforsikring at the end of the year.
However, you must notify DNB Livsforsikring if your tax withholding card changes during the year.
You can also do this in your online bank.
Manage my appointments.
Change tax percentage.
You cannot reduce the tax rate without a tax withholding card on collective agreements (agreements you have through your employer).
Individual pension savings (IPS)
At DNB, you can put together your own portfolio of mutual funds when you save for a pension in an IPS.
DNB offers a number of different mutual funds in its range of mutual funds which you can choose from in your savings, both DNB’s own mutual funds and mutual funds provided by external suppliers.
You can change the composition of your mutual fund portfolio at any time by switching between different funds and managers. Switching mutual funds under the IPS scheme will not trigger taxation.
The savings amount (deposit and return) will be “locked” to pension, and you can start withdrawing the money from the age of 62.
You can easily trade different mutual funds in the IPS in the online bank and in the Spare app.
If you are in your IPS summary in the online bank or in the Spare app, the correct account will be selected automatically during the buying process.
NB! When buying mutual funds in the IPS, select the mutual fund account that is marked “IPS mutual fund account”.
No, you cannot move/convert an old IPS to a new IPS.
If you already have an IPS, we recommend that you contact a savings adviser on +47 915 04800
You can make deposits to your IPS at any time. You can easily doe this in the online bank and in the Spare app.
The IPS agreement cannot be terminated in order to have the pension capital paid out.
You can stop payments to the IPS at any time or move the IPS savings to another supplier.
The money you save in the IPS is bound to a pension, which means that you can start getting disbursements from the age of 62.
The disbursements must be made over a minimum of 10 years and at least up to the age of 80.
This gives a minimum pay-out period of 18 years if you start the disbursements at the age of 62.
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Call us on +47 915 04800
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