Norway BSU Calculator: Boligsparing for Ungdom Growth
Estimate how a Norwegian BSU (boligsparing for ungdom) grows from a starting balance plus regular monthly deposits at its high fixed rate — Norway's tax-favoured savings scheme for under-34s saving toward a first home.
Adjust the inputs and select Calculate for a full breakdown.
Year-by-year growth schedule
Compare Common Scenarios
How the numbers shift across typical situations for this calculator:
| Scenario | Future value | Total contributions | Total interest earned |
|---|---|---|---|
| 20k + 2k/mo · 4.5% · 5yr | $159,327.02 | $140,000.00 | $19,327.02 |
| 0 + 2.5k/mo · 4.5% · 8yr | $288,243.10 | $240,000.00 | $48,243.10 |
| 50k + 2k/mo · 4% · 10yr | $369,041.24 | $290,000.00 | $79,041.24 |
| 10k + 1.5k/mo · 5% · 6yr | $139,136.57 | $118,000.00 | $21,136.57 |
How This Calculator Works
Enter your current BSU balance, monthly deposit, the BSU interest rate, and the years saving. The calculator compounds the balance monthly and shows the projected value and the interest earned. BSU is designed for young people: it pays a higher-than-usual interest rate and gives an annual tax deduction on what you pay in, provided the money is ultimately used for a home (or kept under the scheme's rules).
The Formula
Future Value with Regular Contributions
P = starting amount, PMT = monthly contribution, r = monthly rate (annual ÷ 12), n = number of months
Worked Example
A 20,000 kr balance plus 2,000 kr a month for 5 years at 4.5% grows to about 159,327 kr, with roughly 19,327 kr of interest. BSU (boligsparing for ungdom — 'home saving for youth') is a Norwegian scheme for people under 34: deposits earn a preferential interest rate and qualify for an income-tax deduction (a percentage of the amount saved each year, up to an annual cap), as long as the savings are eventually used for buying or improving a home. There are annual and lifetime deposit limits.
Key Insight
BSU is one of the best-known financial perks for young people in Norway, combining a high savings rate with a tax break, and the rules determine its value. Eligibility is age-bound: you must be under 34 to open and pay into a BSU (you can keep an existing one a little beyond, but new deposits stop at the age limit). Two benefits stack: first, BSU accounts pay a markedly higher interest rate than normal savings accounts (banks offer it as a youth incentive), boosting growth; second, you get an annual income-tax deduction worth a percentage of what you deposit that year, up to the annual deposit cap — a direct reduction in tax, not just a deferral. The scheme has an annual deposit limit and a lifetime (total) limit on how much can be paid in, which this calculator doesn't enforce — so confirm your contributions fit the caps. The catch is the purpose restriction: the funds (and the tax benefit) are tied to housing — buying your first home, or in some cases home improvements — and withdrawing the money for anything else generally means repaying the tax deductions you've claimed. Because both the rate and the tax deduction are unusually generous, the common advice in Norway is to max out the BSU each year while eligible, even using it before other savings. This calculator gives a gross, constant-rate projection of the balance and omits the annual tax deduction (which effectively raises your real return) and the deposit caps; for your full picture, add the yearly tax saving, respect the annual and lifetime limits, and remember the housing-purpose condition attached to the benefit.
Frequently Asked Questions
How is BSU growth calculated?
Your balance and monthly deposits compound at the BSU interest rate (annual rate ÷ 12 per month). 20,000 kr plus 2,000 kr/month for 5 years at 4.5% grows to about 159,327 kr, with roughly 19,327 kr of interest — before counting the separate annual tax deduction.
What is BSU?
Boligsparing for ungdom ('home saving for youth') — a Norwegian scheme for people under 34 that combines a higher-than-usual savings interest rate with an annual income-tax deduction on deposits, provided the savings are used toward a home. It's designed to help young people build a first-home deposit.
Who can open a BSU?
People under 34. You must be within the age limit to pay into a BSU; new deposits stop once you pass it, though an existing balance can be kept under the scheme's rules. The benefits — the high rate and the tax deduction — are aimed squarely at young savers building toward a home.
What's the tax benefit of BSU?
An annual income-tax deduction worth a percentage of what you deposit that year, up to the annual deposit cap — a direct cut in tax, not just a deferral. This calculator shows only the interest growth and omits the deduction, which effectively raises your real return beyond the figure shown.
Can I use BSU money for anything?
Generally no — the funds and the tax benefit are tied to housing (buying a first home, or in some cases improvements). Withdrawing the money for another purpose usually means repaying the tax deductions you've claimed. There are also annual and lifetime deposit limits the scheme imposes.
Related Calculators
Methodology & Review
The future value compounds a starting balance plus a fixed monthly deposit at the annual rate, compounded monthly. It assumes a constant rate and end-of-month deposits, and does not enforce the BSU annual or lifetime deposit limits, the age limit, or model the separate tax deduction the scheme gives on contributions.
Written by Ugo Candido · Last updated May 22, 2026.