Loans in Sweden
On this page we explain to international residents of Sweden how borrowing money works, the requirements and also help you compare all the different lenders and brokers to find the best loan for you and your financial situation.
Best broker in Sweden - Sambla
When it comes to brokers, there is no competition on whom is the best at what they do, with over 20 000 reviews on Trustpilot, and a average TrustScore of 4.8/5, you can be safe in knowing that Sambla will help you compare and find the best loan for you.
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Different Type of Loans You Can Take in Sweden
In Sweden, there are a variety of different types of loans, that all serve a different purpose. We'll start off this page with explaining what type of loans you are able to take in Sweden, as well as their purpose.
Personal Loan
A personal loan, also known as blancolån in Swedish, is a type of unsecured loan where you don't have any type of collateral in combination with the loan. This means that you are able to use the loan for whatever you want
Car, Boat and Motorcycle Loans
You are able to take a loan in order to purchase vechicles such as car, boat or motorcycle as a few examples. The loan can be taken with or without collateral but the terms and conditions for the loan will be vastly different depending on what you choose.
Mortage Loan
You are able to take a mortage loan in order to purchase a home. With the mortage loan you are then able to choose whether you want to use fixed interest rate or variable interest rate. Using fixed will cause so that you pay the same amount of interest on your loan for the next couple of years to com. Whereas for variable interest rate, the cost will differ every three months, as the central bank rates change.
Debt Consolidation Loan
In the case of you being in heavy debt, and need some help to get back on your feet, there are debt consolidation loans you can take that will gather all your current debt into one singular loan, that you then pay off. This type of loan is only really given to those who are in dire need of financial aid.
Student Loan
You are able to take a loan as a student in Sweden to help you during your studies. However, here on Kreditium you are not able to do so, instead visit CSNs website to apply for a student loan.
Business Loan
You are able to take a Business loan in Sweden to further enhance your company and achieve its goals. Note that you will need to provide multiple different documents to the bank, explaining your plans for the loan, as well as proving you are able to repay it.
Lines of credit
In Sweden you are able to have a credit line which is a form of loan that lets you borrow money up to a set limit whenever you need it. You don't have to take all the money at once, just use what you need, when you need it. You can keep borrowing from it again and again as long as you stay under your limit, which makes it really handy when you're not sure exactly how much money you'll need or when you'll need it.
Here on Kreditium, you are only able to compare loans that are taken for purchasing a vechicle or a personal loan. We do not provide a way for you to compare mortage loans, student loans or business loans.
What Are the Requirements to Take a Loan in Sweden?
To take a loan in Sweden there are several different requirements you need to fulfill before you can be apply for a loan and be accepted. However, it's important to note that the requirements can differ from each lender or broker, and depending on what type of loan you want to take.
In general you can expect that these things are the requirements you have to meet when you want to take any type of loan in Sweden:
You Have to Be At least 18 Years Old
At a minimum, you have to be 18 years old to be able to take a loan, however, there are some lenders and brokers that require you to be up to 21 years old.
You Can't be Registered at Kronofogden for Active Debts
In Sweden, there is a organisation called Kronofogden, which oversees all the unpaid debts that people have. If you are registered to Kronofogden, that means you have unpaid debt, and no lender or broker will ever allow you to take a loan whilst you are registered to Kronofogden for unpaid debt.
You Must Have an Income
The income you have, does not have to be from a fulltime job though. The income can be from a array of different things, such as pension, part-time job, rental income, student aid, sick leave compensation and more just to name a few things. The important thing is that you are able to provide proof that you have a stable income year-on-year.
Have to be Registered As a Resident in Sweden
All lenders and brokers require you to be a resident in Sweden, however, some lenders or brokers also require you to be a resident for a certain amount of time. Some require years, whereas other just require a few months.
Have a Swedish Bank Account
In order to take a loan in Sweden, you have to have a bank account in one of the major banks in Sweden, such as Swedbank, Handelsbanken, Danske Bank, Länsförsäkringar, SEB or Nordea.
A BankID For Identification
In Sweden, we use something called BankID, which is a digital identification app. It is tied to your Swedish Personal Identity Number(personnummer) and bank, so that the banks can ensure you are the person applying for the loan.
How Do I Apply For a Loan In Sweden?
Like most other parts of the world, applying for a loan in Sweden is very similar to most.
- Click on "Ansök nu" to begin your application. You’ll be redirected to the lender’s or broker’s application form.
- Fill out the online application form that's on the lender or brokers website with your personal and financial information, such as your income, job status, and identification details.
- Confirm your identity using BankID to proceed with the application.
- Wait for a response from the lender or broker. In most cases, you’ll receive an answer fairly quickly.
If approved, review the loan offer and sign the agreement using BankID. If you're not approved, you’re free to try with another lender or broker.
How Much Does a Loan Cost in Sweden?
The cost of a loan in Sweden can differ based on what type of loan you pick obviously. However, there are two key factors that highly affect the cost of a loan, which is wether you take a loan with a credit check from UC AB or not. In these two examples we show the cost of using Sambla, that uses UC AB for a creditcheck, and Kredio which doesn't. Instead Kredio uses Creditsafe for their credit checks.
| Belopp | Amorteringstid | Månadsbetalning | Räntekostnad | Avgifter | Återbetala | Efter ränteavdrag |
|---|---|---|---|---|---|---|
| 50 000 kr | 1 år | 4 278,39 kr | 1 340,63 kr | 0,00 kr | 51 340,63 kr | 50 938,44 kr |
| 50 000 kr | 3 år | 1 494,88 kr | 3 815,63 kr | 0,00 kr | 53 815,63 kr | 52 670,94 kr |
| 50 000 kr | 5 år | 938,18 kr | 6 290,63 kr | 0,00 kr | 56 290,63 kr | 54 403,44 kr |
I exemplet har vi utgått från lägsta möjliga räntan hos Sambla (4.95 %). Avikostnaden hos Sambla är 0 kr och uppläggningsavgiften är 0 kr.
| Belopp | Amorteringstid | Månadsbetalning | Räntekostnad | Avgifter | Återbetala | Efter ränteavdrag |
|---|---|---|---|---|---|---|
| 50 000 kr | 1 år | 4 684,64 kr | 6 215,63 kr | 0,00 kr | 56 215,63 kr | 54 350,94 kr |
| 50 000 kr | 3 år | 1 880,30 kr | 17 690,63 kr | 0,00 kr | 67 690,63 kr | 62 383,44 kr |
| 50 000 kr | 5 år | 1 319,43 kr | 29 165,63 kr | 0,00 kr | 79 165,63 kr | 70 415,94 kr |
I exemplet har vi utgått från lägsta möjliga räntan hos Kredio (22.95 %). Avikostnaden hos Kredio är 0 kr och uppläggningsavgiften är 0 kr.
What is UC AB and How Does It Affect Me?
UC AB is a company in Sweden that pretty much has the monopoly on credit checks. They are the largest player in the market for credit information. All the largest banks and corporations use UC AB when doing credit checks, and they have a credit score on their reports that the banks view and analyze.
These reports will show the banks the following information:
- Your Swedish personal identity number
- If you have any payment remarks
- If you have any debt registered at Kronofogden
- Your history of past credits
- How you dealt with the payment of said past credits
- And other financial information such as if you own any cars for instance
Multiple Credit Checks Affect Your Credit Score Negatively
If you were to apply for loans to multiple brokers or lenders that use UC AB, it would cause all of them to do a credit check on you, using UC AB. This in turn, will cause your credit score to go down, since it's a signal to the banks that you are desperate for a loan and shows poor economical management.
Think About This Before You Apply For a Loan In Sweden
Before taking a loan and putting yourself in debt, make sure that you have done a thorough amount of research and planning, to ensure that the whole process goes smooth from start to finish. Here are some final tips that we would like to share.
Create a Payment Plan
Before you take on debt, it's very important that you have a plan on how to pay it back, and how to not miss any payment deadlines. We recommend using a budget calculator to help you get a understanding of your personal finances, as well as setting up ways to automate the payment.
Make Sure You Compare Every Option
We might sound like a nagging relative when we keep repeating this, but it is the most important step. Always make sure to compare all the different alternatives that are available to you, to ensure that you choose the lender or broker what can give you the best possible terms and conditions for your loan.
Check Up On Your Credit Score Before Applying
You can if you want to, check your credit score before you actually apply to any lender or broker, and it won't affect your credit score. The reason you wanna do this is so that you have an idea about how good or bad your score is, and that can potentially cause you to make changes so that your score increases, and then apply for a loan to get better terms.
You can easily check your credit score by visiting the websites of companies that provide credit reports.
Here are all the companies in Sweden that provide this service:
Frequently Asked Questions
Yes, it's safe to apply for a loan on our website. We use encrypted SSL-protocols to ensure that your personal data is hidden and protected from hackers.
All the brokers and lenders that we have listed on our website are all certified by Finansinspektionen. They are a government agency that oversees all the financial companies in Sweden, such as banks and insurance firms.
The maximum amount of money you can borrow without any collateral in Sweden is 600 000 SEK.
While most lenders in Sweden use UC AB to check your credit history, there are some options available if you're looking for loans without a UC check. However it is important to note that these alternatives typically have higher interest rates.
Gustav Ternander
Senast uppdaterad 2025-04-23Gustav Ternander är sedan hösten 2021 skribent här på Kreditium.se Han har en examen inom ekonomi och har tidigare jobbat på såväl små som stora banker i Sverige. Gustav har stor kunskap om konsumentkrediter och skriver utifrån detta djupgående artiklar om allt som berör lån här på Kreditium.se.
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