Instant loan apps in Sweden are those types of loans which don’t require too much of the documentation and are approved really quick without any asset showcase. 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 borrower’s time.
These short-term loans typically last between 62 days to 1.5 year. The loan amount can vary from Sek100 up to Sek5,000. 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 Instant Loan Apps In Sweden
- Loanstep
- Northmill
- Daypay
- Mobillan
- Compricer
- Nordea bank
- Swedbank
- Ikano
- Forex bank
- Westra Wermlands
- Sveriges
- Skandiabanken
- Carnegie
- Svenska Handelsbanken
- Skandinaviska
1. LoanStep
Hundreds of thousands of people choose to borrow money online every year. It’s nothing strange, but sometimes you need a little financial support in everyday life. Regardless of whether you are borrowing for a car or whether you choose to borrow money for renovation , LoanStep offers loans with flexible payment.
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
Sometimes it happens, unexpected expenses comes up. The car has broken down, the dentist was more expensive than expected, the mobile bill a bit too high. Unexpected expenses can come suddenly, but so can help.
With Daypay, you receive notification directly on the screen and the money within a day.
You can get loans of up to Sek10,000 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.
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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. All you have to do is follow the steps below
1. Apply for a personal loan via Compricer.
2. Your application is sent to the banks/credit institutions whose basic requirements you meet.
3. You receive an answer from the companies and proceed with the option that suits you best.
4. The 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. 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. It has been serving around 11 million customers. 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 internet 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. It 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 is the second-largest Financial organization and needless to say that it is also one of the big four top banks in Sweden 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. And this bank 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) About Instant Loan Apps In Sweden
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
