Personal loan – low rates with no security required

To apply for a personal loan, you need to:

• Be at least 18 years old
• Have an annual income of at least SEK 225,000 (combined if you’re applying jointly)
• Have no payment defaults

At the moment, personal loans are available to existing customers only.

You can choose to repay your loan over a period of 2 to 10 years. The term you choose should reflect what you plan to use the loan for.

Our recommendations:

• Home improvements
  If you’re using the loan for your home, such as renovations, you may want to choose a longer repayment term of up to 10 years.
• Car, boat, motorhome or motorcycle
  If you’re using the loan for something that will lose value over time, a repayment term of around 5–10 years may be appropriate.
• No resale value
  If the loan is for something with no resale value, you may want to choose a shorter term of around 2 years.

In general, the shorter the repayment term, the lower the total cost of the loan. However, a shorter term also means higher monthly payments, so it’s important to choose a repayment plan that you can comfortably afford.

When you take out a personal loan, you borrow without providing any collateral. This differs from a mortgage, for example, where the property is used as security for the loan.

You can borrow between SEK 30,000 and SEK 500,000. You make monthly repayments until the loan is fully repaid, and you can choose a repayment term of 2–10 years.

A personal loan is an unsecured loan that you can use for things like home improvements or buying a car. Apply online, see your rate instantly, and choose a repayment term of 2–10 years. You can borrow between SEK 30,000 and SEK 500,000.

Collateral is something you own that’s used as security for a loan, such as a property or a car. With an unsecured loan, no such security is required. These are commonly known as personal loans.

To be approved for an unsecured loan, we’ll carry out a credit assessment. This means we review your financial situation to make sure you can afford to repay the loan.

A tax deduction means you may be able to reclaim part of the interest you’ve paid when you file your tax return. Whether you’re eligible—and how much you can claim—depends on whether your loan is secured or unsecured.

A secured loan means the lender has a claim on an asset you own if you’re unable to repay the loan, such as a property, vehicle or other approved collateral.

For mortgages and personal loans with approved collateral, you can deduct the full amount of your interest costs in your tax return.

For unsecured personal loans, the rules are changing:

• From 1 January 2025, you can deduct 50 percent of your interest costs. For example, if you’ve paid SEK 10,000 in interest, you can deduct SEK 5,000.
• From 1 January 2026, no tax deduction will be available for interest on unsecured loans.

Unsecured loans include deposit loans, bridging loans and personal loans.

Good to know: Personal loans with SBAB are unsecured, meaning no collateral is required.

How the tax deduction works

The tax deduction means you can reclaim 30 percent of your interest costs up to SEK 100,000, and 21 percent on any amount above that.

You can receive the tax benefit in two ways:

• Through your annual tax return
  If you don’t take any action, it will be handled automatically. Your bank reports your interest payments to the Swedish Tax Agency (Skatteverket), and your tax return is adjusted accordingly.
• Through tax adjustment (tax relief at source)
  You can apply to have your tax adjusted in advance. This means your employer deducts less tax from your salary, so you receive a higher net income each month. Contact your employer for details on how to arrange this.

The amount you can borrow depends on your financial situation, including your income, existing borrowing and household circumstances. We offer loans between SEK 30,000 and SEK 500,000. Apply to see how much you could borrow.

After your application has been approved, we’ll send you your loan documents. Once you’ve signed and returned them, the funds will be paid into your account.

The easiest way is to set up a direct debit when you apply. If you choose to receive paper statements, a fee of SEK 25 will apply.

You repay the loan with equal principal payments each month. As your balance decreases, the interest you pay will also gradually reduce.

If you’d like to make an extra repayment on your personal loan, you can do so in our app. Go to Privatlån (the personal loans section) and select Amortera extra (make an extra repayment).

If you’d like to repay your personal loan in full, you can do so in our app. Go to Privatlån (the personal loans section) and select Lösa privatlån (repay in full). You’ll need to answer a few questions before we can process your request.

There are no fees for repaying your loan early, and you can do this at any time.

A personal loan can be useful for larger purchases or investments that add long-term value. Common reasons for taking out a personal loan include financing a car, boat or motorcycle, making home improvements, or consolidating existing debts to reduce costs.

It’s generally best to avoid borrowing for everyday expenses or discretionary spending, such as travel or shopping.

Your chances of approval depend on factors like your income, existing borrowing and credit history. A history of payment defaults may affect your chances of being approved.

When you apply for a personal loan, we carry out a credit check. Based on this, along with the information you provide, we assess whether we can approve your application.