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Personal loans Sweden
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Recommended
Amount
SEK 5.000 – 90.000
(≈ USD 500 – 9.300)
Term
12-72 months
Interest rate
20%
Verified Company
Borrow without credit check from UC
Payment on the same day
Example: A loan of SEK 30,000 at 20% nominal fixed interest, SEK 300 arrangement fee, SEK 30 monthly administration fee with a repayment period of 60 months gives an effective interest rate of a total of 25.03%. Arrangement fee is paid with the first monthly payment. This gives a total of SEK 49,957.85 to be repaid in 60 installments of SEK 832.64.
Borrowing costs money.
If you are unable to repay your debt on time, you risk getting a payment default. This can make it harder to rent a home, sign contracts, or obtain new loans. For support, contact the municipal budget and debt counselling service. You can find contact information at konsumentverket.se.
Amount
SEK 5.000 – 800.000
(≈ USD 500 – 83.000)
Term
12-240 months
Interest rate
4,95 – 23%
Example: Annuity loan 12 years, amount 400,000 SEK, variable interest rate 7.99%, arrangement cost 400 SEK, avi fee 20 SEK, gives an effective interest rate of 8.41%. Total amount to be repaid 626,457 SEK, divided into 144 repayments, gives a monthly cost of 4,348 SEK. Repayment period 1-20 years. Maximum interest rate is 23.00%. Interest rate range between: 4.95% – 23.00%. Updated 2025-03-01
Borrowing costs money.
If you are unable to repay your debt on time, you risk getting a payment default. This can make it harder to rent a home, sign contracts, or obtain new loans. For support, contact the municipal budget and debt counselling service. You can find contact information at konsumentverket.se.
Amount
SEK 10.000 – 600.000
(≈ USD 1.000 – 63.000)
Term
12-180 months
Interest rate
6,23 % – 27,80 %.
Verified Company
You will receive an offer immediately
Collect small loans and credits
Example: The credit interest rate is 23.00%. The annual fee is 0 SEK. When using a credit of 10,000 SEK with repayment through 12 monthly payments of 941 SEK, the effective interest rate is 25.59%. The total amount to be repaid is 11,292 SEK. The example is calculated in March 2025 and the interest rate is variable.
Borrowing costs money.
If you are unable to repay your debt on time, you risk getting a payment default. This can make it harder to rent a home, sign contracts, or obtain new loans. For support, contact the municipal budget and debt counselling service. You can find contact information at konsumentverket.se.
Amount
SEK 5.000 – 800.000
(≈ USD 500 – 83.000)
Term
12-240 months
Interest rate
4,95% – 23%
Example: Annuity loan 12 years, amount 400,000 SEK, variable interest rate 7.99%, arrangement cost 400 SEK, avi fee 20 SEK, gives an effective interest rate of 8.41%. Total amount to be repaid 626,457 SEK, divided into 144 repayments, gives a monthly cost of 4,348 SEK. Repayment period 1-20 years. Maximum interest rate is 23.00%. Interest rate range between: 4.95% – 23.00%. Updated 2025-03-01
Borrowing costs money.
If you are unable to repay your debt on time, you risk getting a payment default. This can make it harder to rent a home, sign contracts, or obtain new loans. For support, contact the municipal budget and debt counselling service. You can find contact information at konsumentverket.se.
Amount
SEK 10.000 – 150.000
(≈ USD 1.000 – 15.800)
Term
24-144 months
Interest rate
22,95 %
Example:*Annuity loan 5 years, effective annual interest rate 26.5%. A loan of SEK 60,000 costs SEK 1,709/month (60 installments), a total of SEK 42,821 incl. SEK 199 in arrangement fee and SEK 19 in avia fees. 22.95% nominal interest. Variable interest rate. Banky collaborates with Nordiska Kreditmarknadsaktiebolaget. Updated 2025-02-28.
Borrowing costs money.
If you are unable to repay your debt on time, you risk getting a payment default. This can make it harder to rent a home, sign contracts, or obtain new loans. For support, contact the municipal budget and debt counselling service. You can find contact information at konsumentverket.se.
Amount
SEK 10.000 – 800.000
(≈ USD 1.000 – 83.000)
Term
12-144 months
Interest rate
4,95 %-23 %
Example: Annuity loan 12 years. Effective annual interest rate 9.63%. A loan of SEK 200,000 then costs SEK 2,302/month (144 installments), i.e. a total of SEK 331,495. No start-up/termination fee. 9.23% nominal interest rate (variable interest rate, set individually based on your circumstances). The application will be sent to the lenders that best match your profile, updated 2025-01-09.
Borrowing costs money.
If you are unable to repay your debt on time, you risk getting a payment default. This can make it harder to rent a home, sign contracts, or obtain new loans. For support, contact the municipal budget and debt counselling service. You can find contact information at konsumentverket.se.
Amount
SEK 1.000 – 20.000
(≈ USD 105 – 2.000)
Term
12-36 months
Interest rate
22 %
Example: Borrow SEK 15,000 for 24 months. Total repayment SEK 18,847, or SEK 785 per month. Annual fixed interest rate 22%. Effective annual interest rate 28%, Set-up fee SEK 350. Total cancellation fees SEK 59.
Borrowing costs money.
If you are unable to repay your debt on time, you risk getting a payment default. This can make it harder to rent a home, sign contracts, or obtain new loans. For support, contact the municipal budget and debt counselling service. You can find contact information at konsumentverket.se.
Amount
SEK 2.000 – 200.000
(≈ USD 210 – 21.000)
Term
4-19 months
Interest rate
23 %
Example: A credit of SEK 14,000 at 23.00% interest with a repayment period of ten months (with ten repayments of SEK 2,542, SEK 1,889, SEK 1,860, SEK 1,832, SEK 1,803, SEK 1,775, SEK 1,746, SEK 1,718, SEK 1,689 and SEK 1,661) and SEK 588 in arrangement fee, SEK 1,780 in Minimum to pay amount and SEK 600 in avi fees gives an effective interest of a total of 78.26%. The total amount to repay is SEK 18,517.
Borrowing costs money.
If you are unable to repay your debt on time, you risk getting a payment default. This can make it harder to rent a home, sign contracts, or obtain new loans. For support, contact the municipal budget and debt counselling service. You can find contact information at konsumentverket.se.
Amount
SEK 5.000 – 800.000
(≈ USD 500 – 84.000)
Term
12-240 months
Interest rate
4,9 – 22,95 %
Example: A credit of SEK 14,000 at 23.00% interest with a repayment period of ten months (with ten repayments of SEK 2,542, SEK 1,889, SEK 1,860, SEK 1,832, SEK 1,803, SEK 1,775, SEK 1,746, SEK 1,718, SEK 1,689 and SEK 1,661) and SEK 588 in arrangement fee, SEK 1,780 in Minimum to pay amount and SEK 600 in avi fees gives an effective interest of a total of 78.26%. The total amount to repay is SEK 18,517.
Borrowing costs money.
If you are unable to repay your debt on time, you risk getting a payment default. This can make it harder to rent a home, sign contracts, or obtain new loans. For support, contact the municipal budget and debt counselling service. You can find contact information at konsumentverket.se.
Amount
SEK 1.000 – 30.000
(≈ USD 105 – 3.000)
Term
8-180 months
Interest rate
23 %
Example: Utilized credit of SEK 30,000 for 12 months, total repayment of SEK 35,645 (average SEK 2,970 per month). Effective annual interest rate: 39.31%. Account credit with variable nominal annual interest of 20% plus the reference interest rate currently 23%. Fees: Set-up fee SEK 395. Withdrawal fee SEK 195. Monthly administrative fee: SEK 99. The loan example assumes a withdrawal with a fee, an set-up fee and 12 monthly administrative fees.
Borrowing costs money.
If you are unable to repay your debt on time, you risk getting a payment default. This can make it harder to rent a home, sign contracts, or obtain new loans. For support, contact the municipal budget and debt counselling service. You can find contact information at konsumentverket.se.
In Sweden, personal loans provide a convenient way for individuals to finance personal needs, such as debt consolidation, significant purchases, or unexpected expenses. These loans are unsecured, meaning they require no collateral, and offer fixed interest rates and clear repayment terms.
What is a personal loan?
A personal loan in Sweden is an unsecured financial instrument that provides borrowers with a lump sum of money upfront. This amount is then repaid over a predefined period through consistent monthly installments.
Unlike secured loans, personal loans don’t necessitate collateral, such as real estate or a vehicle. Borrowers benefit from the predictability of fixed interest rates, ensuring their monthly payments remain constant.
Personal loans are versatile, allowing for a range of uses, including consolidating existing debts, funding home renovations, or addressing unforeseen financial demands. The terms, including the loan amount, interest rate, and repayment schedule, are influenced by the borrower’s creditworthiness and the lender’s specific conditions.
Example of a personal loan
| Parameter | Detail |
|---|---|
| Term | 12 years |
| Loan Amount | 400,000 SEK |
| Interest Rate | Variable, 8.99% |
| Setup Fee | 400 SEK |
| Monthly Administration Fee | 20 SEK |
| Effective Interest Rate | 9.49% |
| Total Repayment Amount | 658,461 SEK |
| Monthly Payment | 4,570 SEK |
| Repayment Period | 1-20 years |
| Maximum Interest Rate | 33.46% |
| Interest Rate Range | 5.07% – 33.46% |
Loan Type and Term: Personal loans often come with a fixed duration during which the borrower is required to repay the loan. This term is set at the outset and affects the monthly payment amount and the total interest paid over the life of the loan.
Loan Amount: This is the sum borrowed from the lender, which the borrower agrees to repay over the loan term, along with interest and any applicable fees.
Interest Rate: The cost of borrowing is represented as the interest rate, which can be fixed or variable. A fixed rate remains constant throughout the loan term, while a variable rate can change, reflecting shifts in the broader financial market.
Fees: Loans may include various fees, such as an origination or setup fee and monthly administration fees. These contribute to the total cost of the loan.
Effective Interest Rate: This rate provides a more comprehensive view of the loan’s cost as it includes the interest rate and any fees associated with the loan, presented as an annual percentage.
Total Repayment Amount: This figure represents the sum of all payments made by the end of the loan term, including the principal, interest, and fees.
Monthly Payment: The amount the borrower needs to pay the lender each month. This payment typically combines principal and interest.
Repayment Period: This specifies the range within which the borrower must repay the loan. It sets the minimum and maximum time allowed for repayment.
Interest Rate Range: Lenders provide a range showing the minimum and maximum interest rates they offer. The rate a borrower receives will depend on their creditworthiness and the loan’s terms.
How to Apply For a Personal Loan
Applying for a personal loan in Sweden involves several steps to ensure you choose the best option for your financial situation. Here’s a concise guide:
- Evaluate Your Financial Needs: First, assess why you need the loan and how much you need to borrow. It’s crucial to consider your repayment capability without overextending your finances.
- Loan Amount Determination: Based on your assessment, decide on the amount you need. Remember, it should align with your financial requirements and your ability to repay.
- Research: Investigate various lenders, including banks, credit unions, and online platforms. Compare their offers, focusing on interest rates, fees, loan terms, and any special conditions.
- Documentation: Prepare the necessary documents. These usually include identification, proof of income, employment details, and possibly information about your financial history.
- Application Process: Choose a lender and complete their application process, which can often be done online. Provide accurate and complete information to avoid delays.
- Review and Acceptance: Once approved, you’ll receive a loan offer. Review this carefully, paying close attention to the terms and conditions. If acceptable, agree to the terms to proceed.
- Funds Disbursement: After acceptance and completion of any final paperwork, the loan amount will be disbursed, typically into your bank account.
Required Documentation for Personal Loans in Sweden
When applying for a personal loan in Sweden, lenders will require certain documents to assess your creditworthiness and financial stability.
Here’s a list of common documents you might need to provide:
- Valid ID: A Swedish personal identity number (personnummer) and a corresponding ID, such as a Swedish driver’s license or passport, are crucial for identity verification.
- Proof of Income: Lenders will ask for your recent pay stubs or an employment contract to ascertain your regular income. If you’re an entrepreneur or freelancer, you may need to submit your tax returns or income statements.
- Employment Verification: Some lenders may require a letter of employment or contact information for your employer to verify your employment status and income stability.
- Residence Proof: Documentation confirming your address, such as a utility bill or a lease agreement, is often required to establish your residency status in Sweden.
- Bank Statements: Presenting your bank statements allows lenders to assess your financial management, existing commitments, and overall financial health.
- Debt-to-Income Ratio: Some lenders might request information to calculate your debt-to-income ratio, ensuring you have the capacity to take on new debt.
FAQ
Frequently Asked Questions
A personal loan is an unsecured form of credit provided to individuals, offering a lump sum of money that is repaid over a set period through fixed monthly payments. It comes with an agreed-upon interest rate and does not require collateral.
You can use a personal loan for various purposes, including consolidating debt, financing home improvements, covering unexpected expenses, or funding significant purchases. The flexibility in its usage is a key advantage.
The amount you can borrow in Sweden varies by lender and is based on your financial situation, including your income, creditworthiness, and existing debts. Generally, personal loans can range from a 1.000 – 600.000 Swedish Kronor.
Yes, Sweden uses a credit scoring system to assess an individual’s creditworthiness. Credit bureaus such as UC provide credit reports and scores, which lenders use to determine loan terms, interest rates, and eligibility.
