·
Updated 23. June 2026
·
Enkelfinans
Representative example: Calculation example: 12-year annuity loan, amount SEK 400,000, variable interest rate 7.99 per cent, arrangement fee SEK 400, statement fee SEK 20, resulting in an effective interest rate of 8.41 per cent. Total amount to be repaid: SEK 626,457, spread over 144 instalments, giving a monthly cost of SEK 4,348. Repayment period: 1–20 years. Maximum interest rate: 22.00 per cent. Interest rate range: 4.50–22.00 per cent. Updated 15 August 2025.
Saldo Bank Kontokredit
Representative example: If a credit facility of 5,000 SEK is drawn down at a nominal fixed interest rate of 39.5% for 12 months, the total amount to be repaid is 6,672.89 SEK (556.07 SEK per month), corresponding to an effective annual interest rate of: 74.4%.
Viaconto
Representative example: If you borrow 8,500 kr with a repayment period of 17 months, a nominal, uncommitted annual interest rate of 23 per cent applies. The annual percentage rate (APR) you will pay is 89.29 per cent. The total amount you will pay after 17 months and 17 instalments is 17,000 SEK. See an example of the repayment schedule here. To find out more, click here.
Lendo SE
Representative example: Calculation example: 12-year annuity loan. Effective annual interest rate 9.63 per cent. A loan of SEK 200,000 would therefore cost SEK 2,302 per month (144 instalments), i.e. a total of SEK 331,495. No arrangement or administration fees. 9.23% nominal interest rate (variable rate, set individually based on your circumstances). Your application will be sent to the lenders that best match your profile, updated 9 January 2025.
Ekonomen
Representative example: A 12-year annuity loan of 400,000 SEK, with a variable interest rate of 7.99 per cent, an arrangement fee of 400 SEK and a statement fee of 20 SEK, results in an effective interest rate of 8.41 per cent. Total amount to be repaid: SEK 626,457, spread over 144 instalments, giving a monthly cost of SEK 4,348. Repayment period: 1–20 years. The maximum interest rate is 23.00 per cent. Interest rate range: 4.95% – 23.00%. Updated 1 March 2025
Loanstep
Representative example: A loan of 25,588 kronor taken out on 6 May 2025 at a variable interest rate of 19.95 per cent, with a repayment period of 72 months, entails 72 instalments of approximately 665 kronor, a 588 kronor arrangement fee and a monthly administration fee of 49 kronor. This results in an effective interest rate of 26.96 per cent, and the total amount to be repaid is 48,440.33 kronor.
Marginalen Bank
Representative example: For a loan amount of 100,000 SEK with a variable annual interest rate of 7.98 per cent, an 8-year term (repayment period), an arrangement fee of SEK 0 and a statement fee of SEK 10 (when paying by direct debit), the annual percentage rate (APR) is 8.49 per cent. The standard monthly repayment is SEK 1,423 and the total amount payable is SEK 137,250. This example was calculated on 23 March 2023, assumes that the interest rate and fees remain unchanged throughout the entire credit period. Amounts are rounded up to the nearest krona. The interest rate is variable and may range from 5.45% to 19.32%, which means that the annual percentage rate (APR) may range from 5.63% to 22.07%. The annual percentage rate (APR) is calculated in accordance with the Swedish Consumer Agency’s guidelines.
Lånekoll
Representative example: Calculation example: For an annuity loan of 300,000 SEK with an arrangement fee of 0 SEK, a repayment term of 15 years, a variable interest rate of 7.0 per cent, an effective interest rate of 7.23%, this results in (180) monthly payments of SEK 2,696, with a total repayment amount of SEK 485,367.
Finlo.se
Representative example: A 12-year annuity loan of 400,000 SEK, with a variable interest rate of 7.99 per cent, an arrangement fee of 400 SEK and a statement fee of 20 SEK, results in an effective interest rate of 8.41 per cent. Total amount to be repaid: SEK 626,457, spread over 144 instalments, giving a monthly cost of SEK 4,348. Repayment period: 1–20 years. The maximum interest rate is 23.00 per cent. Interest rate range: 4.95% – 23.00%. Updated 1 March 2025
Credifi
Representative example: A loan of 20,000 kr at an interest rate of 22 per cent with a repayment period of fifteen months (comprising fifteen instalments of 2,957 kr, 1,880 kr, 1,854 kr, 1,829 kr, SEK 1,803, SEK 1,777, SEK 1,752, SEK 1,726, SEK 1,700, SEK 1,674, SEK 1,649, SEK 1,623, SEK 1,597, 1,572 SEK and 1,546 SEK) plus a 588 SEK arrangement fee, a 2,435 SEK service fee for the instalment plan and 855 SEK in statement fees result in a total effective interest rate of 66.01%. The total amount to be repaid is 26,939 SEK. The term of the credit and the associated costs may change if the credit limit is increased.
Coop Bank
Representative example: At a variable interest rate of 7.35 per cent, the effective annual interest rate is 7.60 per cent for an annuity loan of 155,000 SEK with a 10-year repayment term, comprising a total of 120 instalments, an arrangement fee of 0 kr and a statement fee of 0 kr with direct debit. Assuming the interest rate and statement fee remain unchanged, the total amount to be repaid will be 219,693 kr and the monthly cost will be 1,838 kr.
Lumify
Representative example: A loan of 20,000 kr at an interest rate of 22 per cent with a repayment period of fifteen months (comprising fifteen instalments of 2,957 kr, 1,880 kr, 1,854 kr, 1,829 kr, SEK 1,803, SEK 1,777, SEK 1,752, SEK 1,726, SEK 1,700, SEK 1,674, SEK 1,649, SEK 1,623, SEK 1,597, 1,572 SEK and 1,546 SEK) plus a 588 SEK arrangement fee, a 2,435 SEK service fee for the instalment plan and 855 SEK in statement fees result in a total effective interest rate of 66.01%. The total amount to be repaid is 26,939 SEK. The term of the credit and the associated costs may change if the credit limit is increased.
Brixo
Representative example: The loan has a variable nominal annual interest rate of 19.95 per cent, an arrangement fee of 475 SEK and a monthly administration fee of 25 SEK. An example loan of 75,000 kr, repaid at 1,648 kr per month over 90 months, has an annual percentage rate (APR) of 22.8 per cent. This means the total cost of the loan is 73,320 kr.
Klicklån
Representative example: A loan of 45,000 kronor at a fixed interest rate of 24.24 per cent with a repayment period of 84 months, comprising 84 instalments of 1,135 kronor and a set-up fee of 695 kronor (which is added to the loan) and a 19 Swedish kronor administration fee, results in a total effective interest rate of 28.73%. The total amount to be repaid is 96,894 Swedish kronor.
Flexkontot
Representative example: All other product features remain unchanged, as do the requirements we place on our customers. New representative example: The loan has a nominal variable annual interest rate of 21.95 per cent, an arrangement fee of 575 SEK and a monthly administration fee of 39 SEK. An example loan of 20,000 kr, repaid at 1,964 kr per month over 12 months, has an annual percentage rate (APR) of 36.4 per cent. This means a total cost of the loan of 3,568 kr.
Fairlo
Representative example: With a monthly repayment of 2,881 SEK for 12 months, the effective interest rate is 30.6 per cent and the total amount to be repaid is 34,566 SEK.
Daypay
Representative example: Borrow 15,000 SEK for 24 months. Total amount to be repaid: 18,847 SEK, i.e. 785 SEK per month. Fixed annual interest rate: 22 per cent. Annual percentage rate (APR): 28 per cent. Arrangement fee: 350 SEK. Total statement fees: 59 kr.
Thorn
Representative example: A loan of 90,000 kronor at a fixed interest rate of 21.60 per cent with a repayment period of 84 months, comprising 84 instalments of 2,100 kronor and a 595-kronor arrangement fee (which is added to the loan) and a 19 kronor administration fee, results in a total effective interest rate of 24.59 per cent. The total amount to be repaid is 177,992 kronor.
Tomly
Representative example: A loan of 20,000 kr at an interest rate of 22 per cent with a repayment period of fifteen months (comprising fifteen instalments of 2,957 kr, 1,880 kr, 1,854 kr, 1,829 kr, SEK 1,803, SEK 1,777, SEK 1,752, SEK 1,726, SEK 1,700, SEK 1,674, SEK 1,649, SEK 1,623, SEK 1,597, 1,572 SEK and 1,546 SEK) plus a 588 SEK arrangement fee, a 2,435 SEK service fee for the instalment plan and 855 SEK in statement fees result in a total effective interest rate of 66.01%. The total amount to be repaid is 26,939 SEK. The term of the credit and the associated costs may change if the credit limit is increased.
Merax
Representative example: The loan has a nominal variable annual interest rate of 21.95 per cent, an arrangement fee of 575 SEK and a monthly administration fee of 39 SEK. A sample loan of 20,000 SEK, repaid at 1,964 SEK per month over 12 months, has an annual percentage rate (APR) of 36.4 per cent. This means the total cost of the loan is 3,568 SEK.
LoanExpat may receive compensation from partners when you click or apply through links on this page. This does not affect our editorial content.
Managing multiple credit lines can be an expensive endeavor for international residents, but securing a debt consolidation loan in Sweden offers a practical pathway to reducing monthly interest costs. Unlike the fragmented credit markets in some other nations, the Swedish banking system is highly centralized through the UC (Upplysningscentralen) system, which provides lenders with a clear view of your total liabilities. For expats, this transparency often facilitates the process of merging high-interest credit card balances or retail store debts into a single, lower-rate personal loan.
Swedish lending regulations are strict regarding the total cost of credit, ensuring that borrowers are protected from predatory rates often found elsewhere. However, for a foreign resident, the eligibility criteria can feel rigid. Lenders look for stability in your Swedish residence, a history of tax payments to Skatteverket, and a clear lack of payment remarks (betalningsanmärkningar). If you have accumulated various high-interest obligations, lowering your monthly credit payments through a consolidation strategy is generally more effective than maintaining several smaller balances.
The Role of the UC Credit Report
In Sweden, every time you apply for credit, a hard inquiry is performed via UC. If you apply to multiple banks individually, these inquiries accumulate and can negatively impact your credit score. This is why many expats utilize loan brokers or comparison platforms that perform a single UC check but present the application to dozens of banks. This system is designed to keep your credit profile healthy while allowing you to find the most competitive terms for gathering your debts into one place.
It is worth noting that lenders will see your reported income from the previous tax year. If you have recently moved to Sweden or received a significant salary increase, you may need to provide current payslips to prove your current repayment capacity. While you might be exploring different borrowing options in Sweden, the goal of consolidation is specifically to target those debts with the highest APRs, such as credit cards or quick loans.
Eligibility and Documentation Requirements
To qualify for a consolidation loan, banks usually require a minimum annual income and a permanent employment contract. For expats, the duration of your residence permit is also a factor. Most lenders require you to have been registered in the Swedish population register for at least one year, though some may require longer. The table below outlines the typical documentation required during the application process.
| Requirement | Description |
|---|---|
| BankID | Essential for digital signing and identity verification. |
| Swedish Personal Number | A permanent ‘personnummer’ is generally mandatory. |
| Income Proof | Last 3 months of payslips if income has changed since last tax year. |
| Debt Details | OCR numbers and account details for the debts you wish to pay off. |
The “Samlingslån” Mechanism
In the Swedish market, a debt consolidation loan is often referred to as a “samlingslån.” When you apply, you explicitly state that the purpose of the loan is to pay off other debts. Many lenders will offer to handle the payouts directly to your old creditors. This ensures the funds are used for their intended purpose and can sometimes result in better interest rates because the bank sees the total debt load remaining stable rather than increasing.
Interest Rates and Cost Structures
Interest rates in Sweden are typically set on a risk-based model. Your credit score, income-to-debt ratio, and residency status all influence the final offer. Rates for consolidation are almost always lower than those found on credit cards or short term credit products. The effective interest rate (effektiv ränta) is the most important figure to watch, as it includes all administrative fees and setup costs.
While the focus is on reducing interest, you should also consider the repayment term. Extending the term will lower your monthly payment but might increase the total cost over the life of the loan. Aim for a term that balances immediate cash flow relief with a swift exit from debt. If you are also considering other financing needs, such as financing a vehicle purchase, ensure that your total debt-to-income ratio remains within the limits that Swedish banks consider sustainable, usually around 5.5 times your annual gross salary.
Practical Steps for Expats
Before applying, gather a clear list of every outstanding debt, including the current interest rate and the remaining principal. This allows you to identify exactly which debts should be consolidated and which might be cheaper to keep as they are. Remember that this information is not financial advice; it is a description of how the Swedish market functions for international residents.
- Ensure your address is updated with SPAR to avoid verification delays.
- Review your UC report for any inaccuracies before applying.
- Avoid taking out new credit in the three months leading up to your application.
- Check if your current loans have early repayment penalties (rare for unsecured loans in Sweden).
- Compare the total cost over the full term, not just the monthly installment.
Approval is never guaranteed and depends on an individual assessment by the lender. Factors such as the length of your work contract and the nature of your residency permit (permanent vs. temporary) will play a significant role in the bank’s decision. If you find your application rejected, it is often due to a lack of historical tax data in Sweden or a high number of recent credit inquiries.
Taking control of your finances as an expat requires understanding these local nuances. By successfully securing a debt consolidation loan in Sweden, you can simplify your monthly administration and potentially save thousands of kronor in interest over time.
Can I consolidate debt if I only have a temporary residence permit?
It is more challenging but possible. Most lenders prefer a permanent permit, but some will consider applicants as long as the loan term does not exceed the duration of the current permit.
Do I need to pay a fee to close my old loans?
In Sweden, most unsecured personal loans and credit cards do not have early repayment fees. However, you should always check your specific contracts before initiating a consolidation.
Will a consolidation loan affect my credit score?
Initially, the credit check (UC) may cause a slight dip. However, in the long term, reducing the number of active credit lines and lowering your debt-to-income ratio usually improves your Swedish credit score.
How long does the payout process take?
Once approved and signed via BankID, it typically takes 1 to 3 business days for the funds to be transferred or for the lender to pay off your old creditors directly.
Last updated: 23. June 2026