What is Pay & Split?

Pay & Split allows you to divide payments into four parts for transactions made in the last 30 days.

When you use Pay & Split, you receive a loan for 75% of the transaction amount at the current lending rate. You pay the first portion of the transaction immediately, and then repay the remaining loan in three installments over the next three months.

There are no loan fees or additional charges for using Pay & Split.

The minimum transaction amount to split is 20,000 ISK.

You can split multiple transactions up to a total limit of 250,000 ISK. For example, you could split three transactions (100,000 ISK + 100,000 ISK + 50,000 ISK) or five smaller transactions, each worth 50,000 ISK.

To be eligible to use Pay & Split, you must:

• Be 25 years old or older.
• Have a national ID number (kennitala) that is at least three years old.
• Reside in Iceland.
• Have a credit rating of A1-B2 (or C1 if you're sharing additional data) according to Credit Info.
• Have no defaults on other loans with indó.
• Have been employed for three months
• Have a salary higher than 325,000 ISK after tax