When inflation is high, one of the best strategies is to invest money that is not yours. Now, note that I’m writing invest, not spend.

I’m not talking about acquiring debt and then going flying around the world in luxury first-class tickets and indulging in Michelin restaurants every night. I’m talking about putting money into things that either preserve their value or even better, appreciate value over time. For example, renovating your house (bathrooms, kitchen, outdoor deck, etc.) or paying for things you would have bought anyways.

Borrow cheap money to beat inflation

A broadly used trick is borrowing as much money as possible at a cheap interest rate, and deferring the payment in 3, 5, 7, years or more. If you can get the interest to be lower than inflation, then you are winning.

One concrete example: If inflation is 10%, it is much better to borrow 100.000 kr at 5% interest for and defer the payment to 12 months, rather than paying 100.000 kr all at once today.

The game then lies in which loans to pick, how much is the monthly payment, what are the hidden fees, and which institution/bank/lender you are working with.

Bank Norwegian offers a quick and easy way to get a private loan at a relatively good interest rate if you already have an account with them. What is more, you don’t need a collateral if the amount is between 5.000 – 200.000 kr.

You can also consolidate existing loans in a very easy way. They pay all your existing loans and then take over the debt. You can also get new interest rates. Your final interest rate will depend on a credit check they do when you apply.

They recently updated their rates and the offer is becoming more and more competitive against other lenders. The best ones I’ve seen are Ikano Bank and Swedbank. Here is what they post on their website, and the updated email newsletter I received recently.

Check out their full offer here.

Bank Norwegian Loan – Get An Offer

Borrow between SEK 5,000 and 600,000 for what you want!

Our loans require no security and you can use the money for whatever you want.
You get an offer and the entire application process can be completed online.

If you collect your expensive small loans and credits with us, we will redeem these for you. Always compare with us.

Who can apply for a private loan?

You can apply for a loan if you:

Do not have any payment remarks
Are over 23 years old
Has been registered in Sweden for the past 36 months

In addition to these requirements, Bank Norwegian also does a credit check before we can give you a loan offer.

Example: The interest rate is currently individual 4.99% – 22.99% and the terms are determined after credit review. In the case of a loan of SEK 65,000 spread over 5 years with an example interest rate of 13.99% (effective interest rate of 15.88%), the total amount to be paid will be SEK 91,866, which corresponds to SEK 1,531 / month.

Hi Germán

Are you in need of funding for a new project, or have unforeseen expenses arisen? Do you have a more long-term need for credit where a credit card is not the best solution? Then a private loan from Bank Norwegian can be an option for you.

With us, you can borrow money for what you want and get a fixed and structured repayment plan.

Submit a non-binding application and see what you can borrow.

Sincerely,
Bank Norwegian

Example: The interest rate is currently individual 4.99% – 22.99% and the terms are determined after credit review. In the case of a loan of SEK 65,000 spread over 5 years with an example interest rate of 13.99% (effective interest rate of 15.88%), the total amount to be paid will be SEK 91,866, which corresponds to SEK 1,531 / month.