Magnafsláttur
Magnafsláttur is an Icelandic term that translates to "interest rebate" or "interest refund." It refers to a system where a portion of the interest paid on certain types of loans is returned to the borrower. This concept was historically significant in Iceland, particularly concerning mortgage loans.
The primary purpose of Magnafláttur was to alleviate the burden of high interest rates, especially for homeowners.
While the direct application of the term Magnafláttur might be less common in contemporary financial discussions