Top 15 Instant Loan Apps In Sweden [Fastest Loans Updated for 2023]

Most of the instant loan and financial credit in Sweden do not require collateral and you do not have to state what you will use the money for. The entire application process can be completed online. You also do not require any much documentation and are approved really quick without stress.

The process is minimal and convenient compared to the traditional bank loans. Instant loan apps in Sweden are also termed as personal loan or quick loan. You can apply for personal loan online without visiting any bank or filling out long forms. It saves the lenders as well as the borrowers time.

These short-term loans typically last between 62 days to 1.5 year. The loan amount can vary from SEK 100 up to SEK 5,000. The process is faster compared to the loans offered by banks. Instant loans online can get approved on the same day of application. You can apply for such loans sitting at your home or at your office.

Top 15 Best Financial Lending Institutions and Loan Apps In Sweden for guaranteed Approval and quick cash disbursement 2023

Top online lending institutions and loan applications in Sweden that offer guaranteed approval personal online loans include Loanstep, Northmill, Daypay, Mobillan, Compricer, Nordea bank, Swedbank, Ikano, Forex bank, Westra Wermlands, Sveriges, Skandiabanken, Carnegie, Svenska Handelsbanken, Skandinaviska. Most of these loan apps have fast loan processes, without collateral and doesn’t require physical office visitation.

1. LoanStep

LoanStep broker quick and instant unsecured loans, which means as a borrower, you do not have to leave anything as a collateral in exchange for your loan, such as a car or home. The loan intermediary, in this case LoanStep, instead bases your loan application on your ability to repay the loan on time.

2. Northmill

With their Revolve account credit, you borrow up to SEK 50,000 from northmill and only pay for what you use. You choose your monthly payment, pay your credit flexibly in installments up to 5 years , but at least SEK 200.

3. Daypay

Daypay offers trusted and reliable online loans for you at those times when unexpected expenses come up. The car has broken down, the dentist was more expensive than expected, the mobile bill a bit too high. Cash emergency can come suddenly. With Daypay lending application, you can receive notification directly on the screen and the money within a day. You  can get loans of up to SEK 10,000 with 90 days repayment plan.

4. Mobillan

At Mobillan, the credit limit is SEK 30,000 . The credit agreement runs until further notice. Installation fee is SEK 295 . A notification fee of SEK 35 is added upon notification. The minimum amount to pay per month is SEK 1,350 , 4.5 % of the total credit limit.

Example (calculated on 2022-07-01): Calculated on the assumption that the credit limit is SEK 10,000 and that the credit is granted for a one-year period and is paid off through 12 repayments with equal monthly payments, the effective interest is 65.83 % and the credit interest, which is variable, fn 39 % , per year. The monthly cost is SEK 1,095 and the total to be paid back is SEK 12,979 incl. fees.

5. Compricer

In collaboration with UC, Compricer offers loan opportunity to all individuals. The loan processes involve apply for a personal loan via Compricer; Your application is sent to the banks/credit institutions whose basic requirements you meet; You will receive an answer from the companies and proceed with the option that suits you best. The lending company you have chosen contacts you with documents and loan disbursement. After that, all communication takes place with that company.

6. Nordea Bank

Nordea bank is a top bank in Sweden that offers Instant loans for personal and professional borrowers. It is also the first major bank among the big four banks in Sweden. In 2001, this bank was formed by a merger among four banks – Christiania Bank, Merita Bank, Unibank, and Nordbanken.

Nordea Bank has been serving around 11 million customers in Sweden. Around 32,000 employees work here. And it has 600 branches across Sweden. At the end of June 2017, the total assets acquired by this bank were SEK 6183 billion. It is headquartered in Stockholm.

7. Swedbank

This bank is one of the largest in Sweden that offers instant loans. It is also one of the big four banks in the country. It has been serving over 7 million customers and it has around 240 branches in Sweden. Around 14,000 employees work in Swedbank. It has a presence in many countries like South Africa, Luxembourg, Norway, Finland, Denmark, etc.

8. Ikano Bank

Ikano Bank is one of the most prominent digital online banks operating in Sweden that offers instant loans. Previously, it was known as IkanoBanken. In the year 2009, the name was changed to Ikano Bank.

Ikano Bank provides all sorts of financial services like car loans, mortgage loans, insurance, corporate leasing, etc. It was established in the year 1988 and it is a part of the Ikano group. Around 3800 people work here. At the end of December 2016, it has total assets of SEK 41.5 billion.

9. Forex Bank

This was established in the year 1927, around 90 years ago. But until 1990, it was just a company. It got its license from the Bank of Sweden in the 1990s offering instant loans and bank services. As of now, Forex Bank AB is the world’s biggest foreign exchange bureaus. It has a turnover of SEK 20 billion. It has around 110 branches in Sweden, Norway, Finland, and Denmark. It is headquartered in Stockholm.

10. Westra Wermlands

It was one of the oldest banks in Sweden offering instant loans. It was established in the year 1856, around 161 years ago. It is one of the most significant savings banks in Sweden. The head-quarter of this bank is located in Arvika and it operates majorly in Western Warmland. In the year 1998, it has become a part of Swedbank. It has employed around 100 employees.

11. Sveriges

This is the most important bank among all offering loans because Sveriges Riksbank (alternatively, Bank of Sweden) is the central bank of Sweden. This bank controls and regulates the monetary policy of the banking system so that the price remains stable. This bank was founded long, long ago, around 349 years ago, in the year 1668. And it is considered to be the oldest central bank in the whole world. It is authorized under the Riksdag, the parliament of Sweden.

12. Skandiabanken

It is also another internet bank app which has a significant repute in Sweden offering loans for years. It has been serving over 450,000 customers and it has employed around 300 employees.

Skandiabanken is the subsidiary of the Scandia group, Swedish banking, and insurance company with 2.5 million customers. It was established around 23 years ago, in the year 1994. At the end of June 2017, it had total assets of SEK 62,322 million. Its head-quarter is situated in Kungsgatan.

13. Carnegie

This is one of the oldest top loan organisation in Sweden. It was established in the year 1803, around 214 years ago. This is one of the most significant investment banks in Sweden. It has been providing services like investment banking, securities brokerage, and also private banking. It has many branches in the Nordic region. In the year 2001, Carnegie acquired HQ Fonder and HQ Bank and has become the leader of investment banking in the Nordic region.

14. Svenska Handelsbanken

Svenska Handelsbanken is the second-largest Fintec organization in Sweden and needless to say that it is also one of the big four top banks across the country offering instant loans. It is quite an old bank and it was established in the year 1871, around 146 years ago. Around 11,000 employees work here. It has a presence in over 20 countries.

Svenska Handelsbanken has 430 branches only in Sweden. At the end of June 2017, the total assets acquired by this bank were SEK 2961 billion. Its head-quarter is also located in Stockholm.

15. Skandinaviska

This is also listed among the largest financial  organization in Sweden offering loans. Skandinaviska and it is also one of the big four banks in the country. It has been providing services for 4 million customers. And it has a presence in over 20 countries. It is older than Svenska Handelsbanken AB; it was established in the year 1856, around 161 years ago. At the end of June 2017, the total assets acquired by this bank were SEK 2777 billion. Its head-quarter is also located in Stockholm.

Frequently Asked Questions (FAQs)

How Does Loans In Sweden Work?

New loans have to be repaid at the rate of 2 per cent per year until the loan is reduced to 70% of the property’s value and subsequently at 1% per year until the loan is reduced to 50%. A maximum mortgage of 5 times your pre-tax annual income is standard.

What Is The Best Way To Get Instant Loan?

You can directly contact a bank/financial institution through its website and check your personal loan eligibility, interest rate, and EMI payable, after which you will be able to apply for the loan online. Once the loan application is approved, the amount will be disbursed to your bank account immediately.

How Big Loan Can I Get In Sweden?

You can borrow about 4.5x your annual income (since Jan 2018). Using an average disposable income of 45,000 KR/ month in Stockholm, one can borrow around 2.4m (=45000*12*4.5).

How Can I Get Loan In Sweden?

The Swedish bank needs to assess your creditworthiness before granting you a loan. You must therefore be able to prove that you have a job and an income. If you work in Sweden and your salary is paid in Sweden, it is easy for the bank to order a credit report on you