Norway Mortgage Interest Tax Deduction Calculator — Rentefradrag
Calculate your rentefradrag — how much tax you save on Norwegian boliglån interest. 22% deduction rate (fellesskatt). Free, instant.
Current loan principal
From your mortgage statement
How Norwegian Rentefradrag Works
Norway's rentefradrag is one of the simplest and most automatic mortgage deductions in the world. All interest on all debt is deductible at 22% — the standard fellesskatt (general income tax) rate. Unlike most countries, the deduction applies to all types of debt, not just home loans.
On a NOK 3,000,000 mortgage at 5%, annual interest is NOK 150,000. Tax saving: 150,000 × 22% = NOK 33,000/year (NOK 2,750/month).
Effective after-tax rate: 5% × (1 − 22%) = 3.90%.
Key Rules for the Rentefradrag
- Applies to all debt — mortgages, student loans, car loans, personal loans
- Covers primary residence, secondary residence, and rental properties
- No loan amount cap — unlimited deduction
- The deduction is applied against alminnelig inntekt (general income), taxed at the 22% fellesskatt rate
- The deduction reduces your net income — it does not affect the trinnskatt (step tax) calculation on personal income
How to Claim the Rentefradrag
Norway's system is fully automatic. The skattemelding (tax return) is pre-filled with interest data from your bank. You simply log in to skatteetaten.no from April onwards, verify the figures, and confirm. The deadline is April 30.
To reduce withholding tax during the year, contact Skatteetaten to update your skattekort (tax card) to reflect your expected interest deduction.
Frequently Asked Questions
Does the deduction apply to holiday cabins (hytter)?
Yes — Norway's rentefradrag applies to all debt, regardless of the purpose. Mortgage interest on your hytte qualifies in exactly the same way as your primary home.
Is BeastyTax free?
Yes, completely free — no account, no hidden costs.