Lån Och Spar Bank Sweden (2023)

Lån Och Spar Bank: What You Need To Know (2023)

I wrote this post to share my recent experience with Lån och Spar Bank (often shortened as LSB). I found so little data on the internet (in English), so I figured it was good to write about it a bit more. Lån & Spark Bank offers some of the most competitive and safe loans in the Swedish market these days.

In this blog post review, we have a closer look at Lån & Spar Bank. We cover a bit of the bank’s history, its products and services, customer service, and its digital banking capabilities. I will also provide some tips to determine if Lån & Spar Bank is a good fit for you. Let’s start!

To the point

Lån och Spar Bank is a solid alternative when it comes to their personal loans. It offers some of the most favorable and safe loans in the Swedish market in 2023. It has served thousands of customers with a good reputation and score on Trustpilot. All their other products are not as solid, as you can get better interest rates on savings accounts, and credit cards with more flexibility from other banks.

Lån Och Spar Bank Home (2023)

Lån Och Spark Bank in 2023

What is Lån Och Spar Bank?

Lån & Spar Bank Sverige is a regional bank based in Malmö, Sweden. It was founded in 1873 and has over 100 branches throughout the country. The bank offers a wide range of financial products and services, including savings accounts, loans, mortgages, and investment products.

Lån & Spar Bank Sverige has a good reputation for customer service. The bank has a 4-star rating on Trustpilot, based on over 975 reviews. Customers praise the bank’s friendly and helpful staff, as well as its quick and easy online banking services.

Another benefit of using Lån & Spar Bank Sverige is that it offers a variety of discounts and promotions to its customers. For example, the bank offers a 0.5% interest rate on savings accounts and a 0.5% cashback on debit card purchases.

Key Advantages of Lån och Spar Bank

  • Good reputation and customer service.
  • Solid range of products and services (loans, savings accounts, insurance, and credit cards with low-interest rates).
  • Member of the Swedish Bankers’ Association, insurance up to 100.000 SEK.
  • Offers discounts and promotions to customers.

Products and Services

1. Loans

With LSB there are a few different types of loans you can apply for:

  1. Private Loan: Borrow money to realize an idea. For travel, renovation, weddings, or anything else you want to do. Individual interest from 4.95% to 9.95%.
  2. Member Loan: As a member of one of their partner organizations, you can borrow money from LSB at an extra favorable interest rate discount of 0.50%. Individual interest from 4.95% to 9.95%
  3. Car Loan: Borrow for your car purchase or transfer an existing car loan.  Loan for a new or used car. Works both for private car sales or purchases from car dealers. Individual interest from 4.95% to 9.95%
Lån Och Spar Bank Lån (2023)

In addition, you can also collect loans and credits with LSB, consolidating all your loans and credits with one bank. 


Credit amount SEK 100,000, variable annual interest rate as of 2023-06-15 5.48%, repayment period 12 years, set-up fee SEK 395, notice fee SEK 0/month, loan protection insurance premium SEK 88/month, effective interest rate 5.70%. Total monthly cost SEK 946, number of installments 144. (annuity loan). Total amount to pay SEK 136,648. Borrowers under the age of 65 are automatically connected to the loan protection insurance. The insurance is free of charge for the borrower for the first three months, but a monthly amount corresponding to the insurance premium is charged for these three months and used for extra amortization of the loan. The interest rate is individual, 4.95 – 9.95% per 2023-06-15, and is decided after the usual credit check.

2. Savings Accounts

Lån och Spark Bank offers three different savings accounts. IMHO, their savings account and credit card products are worse than other banks in the market, in contrast with the loans product. Their savings account yield between 0.25% and 1% (only up to 25.000 SEK). There’s also very little difference between their Plus and Member accounts.

  • Sparkonto: 0.25% interest, free withdrawals, and deposits, no fees, covered by deposit guarantee.
  • Sparkonto Plus: 1% interest up to 25.000 SEK
  • Sparkonto Medlem: 1% interest up to 25.000 SEK
Lån Och Spar Bank Sparkonto (2023)

3. Insurance

LSB offers a one-stop-shop for insurance, which is quite convenient if you are already a customer with the bank. You can protect your house, car, vacation home, and even protect any loans you have in case you fall ill or pass away (to avoid putting the burden on your family).

  • Car Insurance.
  • Home Insurance (Villa/House and Apartment).
  • Vacation Home Insurance.
  • Loan Protection: Protect your loan if you fall ill or pass away.
  • Card Insurance.
Lån Och Spar Bank Insurances (2023)

4. credit Card

Their credit card is probably their weakest product. It feels more as a ‘product they need to have’, rather than a useful product. Yes, it offers a bit of buffer to their customers, but IMHO, you will be much better off by getting a credit card from another bank, especially if you are after the rewards programs (cashback, points, etc.)

On the bright side, it offers a really competitive interest rate, and flexibility if you want to split payments into multiple installments, or you simply want to finance big purchases at extra cost.

Also read:

Lån och Spar Bank Credit Card highlights
  • No annual fee the first year.  After the first year, the annual fee is SEK 195.
  • Free insurances. It gives you both supplementary travel insurance and insurance coverage in the event of, for example, incorrect refueling and the purchase of household appliances or home electronics. 
  • Good interest rate. Interest-free for up to 55 days as long as you pay the full amount on the invoice. 9.95% annually after that. Much cheaper than other banks.
  • Flexible repayments. Choose whether you want to pay the full amount on your invoice or split your payment, make extra payments when it suits you, or report an e-invoice. You can also log into the Internet bank at any time of the day and see where and when you made your purchases.
Lån Och Spar Bank Kreditkort (2023)

Conclusion: Is Lån Och Spar Bank Good?

Overall, Lån & Spar Bank Sverige is a good choice for customers who are looking for a reliable and affordable bank with good customer service. The bank has a wide range of products and services to offer, and it is a member of the Swedish Bankers’ Association. However, some fees can be high, and the bank is not as well-known as some other banks.

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