- The best savings option if you are 33 years old or younger
- A good rate of interest
- No regular savings amount required
- Tax relief – up to NOK 2 750,- annually, if you do not own your own housing
General rules and requirements:
- The maximum age limit is 33 years old
- BSU savings must be used to buy a home or to repay an existing mortgage
- You must have a taxable income to be eligible for tax relief (but you may save regardless)
- The maximum savings limit is NOK 27 500 per year and the total savings amount is NOK 300 000
- From the time you reach the age of 34, the BSU account will have the same interest rate as ordinary savings accounts
Additional requirements for non-Norwegian citizens:
- A personal ID Number or D-Number.
- Address of residence in Norway*.
- Holdings must be declared to the Norwegian authorities.
*Please note that you must reside in Norway to qualify for BSU and have taxable income to be eligible for tax relief.
