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 capital gains at the current rates. A deduction for any losses cannot be made until the account is closed.

A share savings account is a distinctively Norwegian scheme, and is therefore best suited to those who are domiciled in Norway for tax purposes. If you are liable for withholding tax abroad for dividends on shares outside Norway or are domiciled abroad for tax purposes, you should clarify with a tax adviser whether the share savings account is suitable for you, and how this should be reported correctly to both countries.

When you order a share savings account at DNB you can trade mutual funds. When you trade shares in your share savings account in the online bank, you will automatically be assigned a VPS account, which belongs to your share savings account. It is possible to divide your share savings account into multiple parts (sub-accounts).

All of the funds within these accounts will collectively constitute your share savings account at DNB.

When you buy Norwegian exchange-traded shares and equity certificates, they 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 Set up international trading.

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.

You can easily create multiple sub-accounts. This can be useful when you want to organise investments in the share savings account.

Different savings targets: Earmark the sub-accounts as you like – whether it’s for a pension, holiday or something else you’re looking for.

Separate investments You can distinguish between investments in, for example, mutual funds and individual shares.

Better overview: Get a more detailed overview of risk and return on the various investments.

Transfers between sub-accounts, linked to the same share savings account, do not trigger tax. You can withdraw the money you have deposited into your share savings account at any time, free of tax. It is only when you take out the profit, that is, what you have earned, that you have to pay tax.

If you save for yourself, sub-accounts can be a good option. If you’re saving for others, it’s often smarter with more share savings accounts.

Multiple sub-accounts: May be useful for anyone wanting to organise their investments. Create multiple share accounts and earmark them as you want.

Multiple share savings accountsMay be a good idea for anyone who saves for others, since the share savings account must be given in its entirety. It also makes it easier to document ownership and realise profit/loss when you give away funds and individual shares.

You can transfer money at any time from a bank account outside of the share savings account to your 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 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.

You can check the balance and change in value at any time in your share savings account, either in the online bank or in the Spare app on your mobile.

In the online bank, you can find the overview of your share savings account by clicking on the tab for Savings and investments – Savings – select Share savings account under Savings products – My share savings account

In the Spare app, you’ll find the share savings account under More.

In both places, you can see how much you can withdraw from the share savings account tax-free.

All private individuals domiciled in Norway for tax purposes can set up a share savings account. People domiciled in an EEA country can open 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.

No, it’s free of charge to open a share savings account at DNB, but the underlying products cost the same inside the share savings account as outside.

See the summary here

You can trade in exchange-traded shares, equity certificates and exchange-traded funds in companies based in countries outside of the EEA. For example, Borr Drilling falls outside because it is not registered within the EEA even though it is listed on the Oslo Stock Exchange.

You can trade a wide range of equity funds. There is a requirement that the equity fund must consist of more than 80 per cent 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.

It will be possible to open up to ten share savings accounts at DNB via online and mobile banks. If you need more than ten share savings accounts, you can contact us on 915 04800.

You can buy and sell equity funds in the normal way in mutual fund trading in the online bank or in our own savings app, Spare.

When you buy equity funds for your share savings account, choose the desired share savings account.

Yes, you can move your share savings account with another savings provider to your share savings account at DNB at any time. We will help you with the transfer and merge the accounts into one share savings account at DNB.

Read more and order a transfer.

DNB does not charge you when moving your Share savings account to us. The other savings provider may charge a fee for organising the transfer of the share savings account.

When selling shares in a share savings account, you can transfer the amount to, for example, your current account only when the amount is shown as a recorded balance in the account overview. This usually takes about two working days. However, it is possible to trade new shares and mutual funds immediately.

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.

• You can make withdrawals from your Share savings account at any time by transferring to one of your other bank accounts at DNB.
• A share savings account cannot be used to make bill payments.

• 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.

When all holdings have been sold out and the account has been cleared of funds, the account can be closed as follows:

In the online bank:

1. Savings and investments
2. Share savings account
3. Click on the correct Share Savings Account
4. More sales
5. Close share savings account (PDF, Norwegian)
   

In the Spare app

1. Go to "More"
2. Share savings account
3. Would you like to close an account?
4. Press the three dots in the right corner
5. Close account

In Sbanken Mobilbank:

1. Select Saving
2. Share savings account overview
3. Select account - press the dots in the top right
4. Close account

You have previously received dividends into your 1260 account.

After the change on 8 March 2025, future dividends will be paid into an internal account at DNB, which means that you will no longer receive this on your 1260 account.

In the future, dividends will be visible in your online bank under Online banking - Savings and investments - Share savings account. Dividends can be freely spent from the account or withdrawn. Dividends are normally received on the ex-dividend date. In exceptional cases, it may take up to 2 working days.

You can find the dividend transactions by selecting transactions under each share savings account - Select sub-account - Transactions.

Dividends can also be paid out in the form of shares, in which case they will be credited to your share savings account in VPS.

You will find the vouchers in the archive in the online bank under foreign shares and in Investor Services for Norwegian shares.