Closing a security deposit account? See more information here

Security deposit account

Security when renting or letting a residential or commercial property.

An apartment building
  • Security for non-payment of rent and damage to the rental property

  • The account is blocked for as long as the lease lasts

Security deposit accounts must be opened by the landlord

The following must be in place:

Front-end fee security deposit account

NOK 500

Manual opening costs NOK 1,250. The Norwegian Tenancy Act assumes that the landlord will cover the front-end fee.

  • Customer relationships
    Both landlord and tenant must be registered as customers at DNB. Are you the tenant and not a DNB customer yet? Become a customer private or business
  • Tenant’s personal data
    Tenant’s name, national identity number, email and telephone number.
  • Documentation
  • Electronic copy of signed tenancy agreement.

How to open a security deposit account

Useful information about the account

  • To open a security deposit account, the tenant must be over 18 years old.
  • The deposit amount cannot be greater than six months’ rent.
  • The tenant owns the account and receives the interest unless otherwise agreed.

Agreement terms and conditions, security deposit account (PDF, Norwegian)Open the file in a new tab

See how to open a security deposit account (2:23 min)

Close a security deposit account

When the lease ends, the landlord and tenant can close the security deposit account in the online bank. Ifyou are a landlord/tenant and a retail customer, use this form.

Useful information:

  • Security deposit accounts must be closed by a person with an ordering role in the online bank.
  • Both the landlord and tenant should confirm any claims against the deposit by submitting forms with the same amount.
  • When we have received both forms, the money will be transferred to the tenant’s account after 1-2 working days.

Deposit dispute

  • When the landlord starts the process by submitting a tenancy termination first, the tenant receives a 5-week notice period for documenting paid rent or to file a case with the Rent Disputes Tribunal. For claims of damages, the deadline is 2 weeks. If there is no response, the case is referred to the Rent Disputes Tribunal.
  • When the tenant starts the process, the landlord gets a 5-week notice period for submitting claims. In the event of a claim for outstanding rent, the case is reversed, and the tenant is given 5 weeks to document the payment or raise a case with the Rent Disputes Tribunal. In the event of any claim for damages, the landlord must obtain acceptance or raise a case with the Rent Disputes Tribunal by the original deadline.

Security deposit account FAQ