Best Ways To Compare Loans In Sweden (2023)
Are you considering borrowing money and looking for the best options out there? I hear you; I’ve been there. Luckily, it is much easier to compare loans in Sweden today than 5 or 10 years ago.
What are the best lenders? Who offers the best interest rates? Which one offers the best terms for repayment? Can I refinance or consolidate other loans? There are lots of questions about borrowing money. That’s why I try to bring some light with this post.
I lived in Sweden for over 15 years and used personal loans multiple times. Borrowing money can actually be a good thing if done the right way. It can help you build a good credit score and finish your projects faster. I’ve borrowed money for home renovations several times and invested that money into the house I was living in. At the time I sold it, that investment paid off big time.
There are several platforms you can use today that you can use to compare loan rates and search for the best options. Another advantage of using these platforms is that you can apply for several personal loans with a single credit check (UC check). This is great because it doesn’t damage your credit score while you are looking for the best options.
With the following platforms, you will be able to compare all the lenders and tailor the options to what you are looking for in terms of interest rates, repayment times, monthly amounts, etc. Let’s have a look at them.
Enklare
Best for beginners
Loans up to 600.000 kr
Single credit check
Largest marketplace in Sweden
5 Trustpilot score
Zmarta
Best for more flexible terms
Loans up to 600.000 kr
Single credit check
Solid German company
4.6+ Trustpilot score
Lendo
Best for loan consolidation
Loans up to 600.000 kr
Single credit check
Compare 40 lenders
4.7 Trustpilot score
Top 5 Reasons to get a Personal Loan
There are many reasons why you would consider getting a personal loan. Here are the most common ones
- Debt consolidation: When you apply for a loan and use it to pay off multiple other loans or credit cards, you combine all of those outstanding balances into one monthly payment. This grouping of debt makes it easier to work out a time frame to pay off your balances without getting overwhelmed.
- Home renovations: Homeowners can use a personal loan to upgrade their home or complete necessary repairs, like fixing the plumbing or redoing the electrical wiring. A personal loan is a good fit for people who don’t have equity in their home or don’t want to get a home equity line of credit or home equity loan. Unlike home equity products, personal loans often don’t require you to use your home as collateral since they’re unsecured.
- Vehicles: A personal loan is one way to cover the cost of a car, boat, RV, or even a private jet. It’s also one way to pay for a vehicle if you’re not buying it from the company directly.
- Wedding expenses: A wedding loan can be used for big-ticket items like the venue and bride’s dress, as well as more minor expenses like flowers, photography, the cake, and a wedding coordinator. If you don’t want to deplete your savings account, consider a personal loan to help make your engagement and wedding exactly the way you always dreamed it to be.
- Emergency expenses: If you have a sudden emergency, like paying for a loved one’s funeral, using a personal loan could be a low-cost option. The median cost of a funeral is close to 75.000 kr, which can be difficult for many families to afford.
What is the best way to compare loans in Sweden?
1. Enklare
Enklare started out in 2014 as a loan broker in Sweden. They help their customers to find the best loan offer on the market, identifying the best ways to consolidate loans and decrease monthly costs and interest charges.
Enklare advantages
- Loans up to 600.000 kr
- Immediate answer
- Compare 38 lenders
- Single credit check with UC
- Also offers loan consolidation
- Excellent Trustpilot score of 5 with over 5000+ reviews!
2. Zmarta
Zmarta is one of the most serious and reliable companies out there. They do personal loan mediation but also offer other financial services like loan comparison for companies, mortgages, and electricity. They have an impressive score on Trustpilot and a massive number of customers up to date. Back in the day, it was one of the few that offered an iOS app.
Zmarta.se is part of Zmarta Group, owned by Bauer Media Group, one of the largest media houses in Europe, based in Hamburg, Germany. Bauer Media is also a leading media player in Australia and the USA. Bauer Media Group is still owned by the Bauer family. The group has 11.500 employees and a revenue of €2.24 billion in 2022.
Zmarta advantages
- Part of a HUGE business group with German capital
- Serious company with solid financials
- Have been around for a while
- Excellent Trustpilot score and reviews
- Loans up to 600.000 SEK with flexible terms
- Single credit check with UC
- Great website
3. Lendo
Lendo is a leading marketplace for loans, which includes a place for consumers to compare consumer loans, car loans, credit cards, business loans, and mortgages (bolån).
Lendo was founded in Sweden in 2007 when few players offered price comparisons for consumer loans without affecting customers’ credit scores. Lendo wanted to change this. After the success in Sweden, Lendo expanded into the Nordics and other European countries. Today Lendo operates in Norway, Sweden, Finland, Denmark, Italy, Spain, and Portugal. Lendo is also a part of the Schibsted family of brands.
Lendo advantages
- The easiest way to consolidate loans
- Loans up to 600.000 kr
- Apply in under two minutes
- Compare over 40 lenders
- Single credit check with UC
- Trustpilot score of 4.7 with over 2000+ reviews
4. Ekonomen
Ekonomen is a new player in the game and acts as a subsidiary of Enklare. In my experience, sometimes the rates you get through Ekonomen can be better than Enklare.
Ekonomen advantages
- Micro: Loans up to: 40.000 SEK
- LOW: Loans under 99.999 SEK
- HIGH: Loans over 100.000 SEK (Up to 600.000 SEK)
- Immediate answer
- Compare 39 lenders
- Single credit check with UC
- Also offers loan consolidation
- Sometimes better rates than its competitors
5. Matchbanker
Matchbanker is another online comparison service for financial products and has several years of experience in the financial market. Matchbanker provides a loan list that matches your situation and your needs and for which you will most likely be approved. Matchbanker is currently available in 13 countries including Sweden, Denmark, Norway, Spain, Poland, Finland, Romania, the Czech Republic, Spain, and Mexico.
Matchbanker is owned and operated by Karman Connect A/S (Formerly Lead Supply A/S), which is partly owned by North Media, which is a listed company on the Copenhagen Stock Exchange.
Matchbanker advantages
- Great information, guides, and online tools on their website
- Loans up to 600.000 SEK
- Single credit check with UC
- Also offers loan consolidation
- A bit basic user interface
6. Beefinans
Beefinans is, in essence, a different front-end for Sambla, with slightly better rates (sometimes), and a couple of added lenders which are not available on Sambla. Beefinans helps you review the possibilities for a restructuring of your private loan or how a consolidation loan can improve your finances free of charge. Their partner, Sambla Group AB, cooperates with over 40 lenders who help you find an offer that suits your needs.
Since its start in 2014, Sambla and Beefinans, have helped 400.000 customers.
Beefinans advantages
- Backed up by Sambla, plus a few extra lenders
- Loans between 5.000-600.000 SEK
- Single credit check with UC
- Collect loans
- Interface looks a bit fishy, but it’s not (-)
7. Arcadia Finans
Arcadia Finans is a reseller of Zmarta’s and Axo’s loan intermediary operations. The application is submitted to arcadiafinans.se, and then it is handled by Zmarta or Axo Finans AB.
To date, Arcadia has compared loans free of charge and helped more than 100.000 customers.
Best Loan Comparison Services in Sweden by ChatGPT
I built the list above on my own a few years ago, and I keep it updated every year. However, since the launch of ChatGPT, I decided to test it out and ask what are the best loan comparison services in Sweden according to its AI, here are the results:
Question: What are the best loan comparison services in Sweden?
There are several loan comparison services available in Sweden that can help you compare different loan options from various lenders. Here are some of the most popular ones:
- Compricer.se – Compricer is one of the largest and most well-known loan comparison services in Sweden. They compare loan options from multiple banks and lenders and help you find the best deal.
- Lendo.se – Lendo is another popular loan comparison service that can help you find loans with low interest rates and good terms. They compare loan options from several banks and lenders, including big names like Swedbank and Nordea.
- Zmarta.se – Zmarta is a loan comparison service that helps you find the best loans and credit options based on your needs and financial situation. They compare loan options from a wide range of lenders and banks in Sweden.
- Advisa.se – Advisa is a loan comparison service that can help you compare personal loans, mortgages, and car loans from various lenders. They have a simple and user-friendly interface that makes it easy to find the best loan option.
- Freedomfinance.se – Freedom Finance is a loan comparison service that helps you compare loans from multiple banks and lenders. They offer a wide range of loan options, including personal loans, car loans, and debt consolidation loans.
Overall, these loan comparison services can help you find the best loan options in Sweden based on your needs and financial situation. It’s always a good idea to compare different lenders and loan options before making a decision to ensure you get the best deal possible.
Overall, I was surprised to see that we aligned with most of the companies in the ranking proposed by ChatGPT.
Loan Comparison In Sweden: Conclusion
Platforms like Lendo, Zmarta, Ekonomen, Enklare, and others can help you get the best personal loans in Sweden when it comes to interest rates and repayment conditions. They can also help you sort out your finances and simplify your loans by collecting and consolidating other existing loans you have and refinancing your rates. All of that with a single credit check with UC.
Make sure you take advantage of these free platforms and always compare lenders before applying for a loan!
