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Updated 23. June 2026
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Ekomni
Representative example: Amount granted: 4,500 SEK, repayment period: 6 months, fixed nominal annual interest rate: 22.00%, arrangement fee: 499 SEK (deducted from the approved credit amount on disbursement), statement fee (monthly administration fee) SEK 69, effective interest rate 154.36%, monthly cost SEK 798.85, total amount to be repaid including all fees: 5,207.12 kr.
Enkelfinans
Representative example: Calculation example: 12-year annuity loan, amount SEK 400,000, variable interest rate 7.99%, arrangement fee SEK 400, statement fee SEK 20, resulting in an effective interest rate of 8.41%. 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%. Interest rate range: 4.50–22.00%. Updated 15 August 2025.
Saldo Bank Kontokredit
Representative example: If the credit facility of 5,000 SEK is utilised at a fixed nominal interest rate of 39.5% for 12 months, the total amount to be repaid is 6,672.89 SEK (556.07 SEK per month), which corresponds 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, non-binding annual interest rate of 23% will apply. The annual percentage rate (APR) you will pay is 89.29%. The total amount you will pay after 17 months and 17 instalments is 17,000 kr. 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%. A loan of 200,000 kr would then cost 2,302 kr per month (144 instalments), i.e. a total of 331,495 kr. 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%, an arrangement fee of 400 SEK and a statement fee of 20 SEK, results in an effective interest rate of 8.41%. 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: 23.00%. 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 49 kronor monthly administration fee. This results in an effective interest rate of 26.96 per cent, and the total amount to be repaid is 48,440.33 kronor.
Lånekoll
Representative example: Calculation example: For an annuity loan of 300,000 kr with an arrangement fee of 0 kr, a repayment term of 15 years, a variable interest rate of 7.0%, an effective interest rate of 7.23%, this results in (180) monthly payments of 2,696 kr, with a total repayment amount of 485,367 kr.
Finlo.se
Representative example: A 12-year annuity loan of 400,000 SEK, with a variable interest rate of 7.99%, an arrangement fee of 400 SEK and a statement fee of 20 SEK, results in an effective interest rate of 8.41%. 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: 23.00%. 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, 1,803 kr, 1,777 kr, 1,752 kr, 1,726 kr, 1,700 kr, 1,674 kr, 1,649 kr, 1,623 kr, 1,597 kr, 1,572 kr and 1,546 kr) plus a set-up fee of 588 kr, a service fee of 2,435 kr for the instalment plan and statement fees of 855 kr, resulting in a total effective interest rate of 66.01%. The total amount to be repaid is 26,939 kr. 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%, the effective annual interest rate is 7.60% for an annuity loan of 155,000 SEK with a 10-year repayment term, comprising a total of 120 instalments, an arrangement fee of SEK 0 and a statement fee of SEK 0 with direct debit. Assuming the interest rate and statement fee remain unchanged, the total amount to be repaid will be SEK 219,693 and the monthly cost will be SEK 1,838.
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, 1,803 kr, 1,777 kr, 1,752 kr, 1,726 kr, 1,700 kr, 1,674 kr, 1,649 kr, 1,623 kr, 1,597 kr, 1,572 kr and 1,546 kr) plus a set-up fee of 588 kr, a service fee of 2,435 kr for the instalment plan and statement fees of 855 kr, resulting in a total effective interest rate of 66.01%. The total amount to be repaid is 26,939 kr. 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%, an arrangement fee of 475 kr and a monthly administration fee of 25 kr. 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%. 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%, with a repayment period of 84 months, comprising 84 instalments of 1,135 kronor and a 695 kronor arrangement fee (which is added to the loan) and a 19 kronor administration fee, results in a total effective interest rate of 28.73%. The total amount to be repaid is 96,894 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%, an arrangement fee of 575 kr and a monthly administration fee of 39 kr. 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%. This means a total cost of the loan of 3,568 kr.
Fairlo
Representative example: With a monthly repayment of 2,881 kr for 12 months, the effective interest rate is 30.6% and the total amount to be repaid is 34,566 kr.
Daypay
Representative example: Borrow 15,000 kr for 24 months. Total amount to be repaid: 18,847 kr, i.e. 785 kr per month. Fixed annual interest rate: 22%. Annual percentage rate (APR): 28%. Arrangement fee: 350 kr. Total statement fees: 59 kr.
Thorn
Representative example: A loan of 90,000 kronor at a fixed interest rate of 21.60%, 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%. 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, 1,803 kr, 1,777 kr, 1,752 kr, 1,726 kr, 1,700 kr, 1,674 kr, 1,649 kr, 1,623 kr, 1,597 kr, 1,572 kr and 1,546 kr) plus a set-up fee of 588 kr, a service fee of 2,435 kr for the instalment plan and statement fees of 855 kr, resulting in a total effective interest rate of 66.01%. The total amount to be repaid is 26,939 kr. 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%, 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%. This means the total cost of the loan is 3,568 kr.
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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