Flexkontot is a Swedish financial service provider offering flexible credit solutions. They cater to a range of customers, providing loan amounts from SEK 3,000 to SEK 30,000. The company’s services are designed to accommodate various financial needs, offering both short-term and long-term loan options, including personal loans.
Key Details about Flexkontot:
- Loan Amounts: Customers can borrow between SEK 3,000 and SEK 30,000.
- Payment Period: The repayment term ranges from 8 to 62 months, allowing borrowers to choose a schedule that fits their financial circumstances.
- Interest Rates: Flexkontot has a nominal fixed annual interest rate of 43.98%. However, the effective annual interest rate can reach up to 76.8%, depending on the loan’s terms and fees.
- Fees: There are additional costs, such as a SEK 475 setup fee and a SEK 25 monthly administration fee.
- Minimum Age: Applicants must be at least 18 years old to qualify for a loan.
Flexkontot offers a flexible line of credit, allowing customers to draw funds up to their approved limit. This flexibility is particularly appealing to those who may need to access funds on short notice. The company also provides the convenience of same-day payouts, a feature that underscores their commitment to meeting immediate financial needs.
One of the distinctive aspects of Flexkontot’s service is their approach to credit checks. Unlike many traditional lenders, they do not use UC (Upplysningscentralen) for credit inquiries. Instead, Flexkontot utilizes Bisnode, an alternative credit information agency, which can be beneficial for individuals concerned about their UC credit inquiries impacting their credit score.
Flexkontot also acknowledges the challenges faced by individuals with past financial difficulties. They offer the possibility of obtaining credit even to those with previous payment remarks, demonstrating a forward-looking approach to lending.
To illustrate their repayment terms, Flexkontot provides an example where a SEK 10,000 credit, repaid over 12 months with a monthly amount of SEK 1,120, results in a total credit cost of SEK 3,440. This example highlights the importance of understanding the total cost of credit, including interest rates and fees, over the loan’s duration.