We publish the whole model so that you can check the arithmetic. If you cannot reproduce our ranking from the figures on this page, that is an error we want to hear about.
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We never take the lender’s advertised figure at face value, because it almost always applies to a different amount and term than the one you chose. Instead we model the entire payment flow for your calculation and solve the effective rate from it.
Let K be the credit amount, n the number of months, a the annuity, f the invoice fee per month and u the arrangement fee. The effective annual rate x is the rate that satisfies
K = Σt=1..n (a + f + [t=1]·u) ÷ (1 + x)t/12
The annuity a is in turn calculated as K · i / (1 − (1+i)−n) where i is the nominal monthly rate. Because the present-value function is strictly
decreasing in x, we solve the equation by bisection over the range 0–1,000%, in 120
iterations. That gives precision far beyond the two decimals we display.
This is the same definition used in the Swedish Consumer Credit Act and the EU Consumer Credit Directive. Its point is that a lender cannot hide costs in fees: an invoice fee of SEK 59 a month feeds into the effective rate exactly as interest does.
A quick loan of SEK 20,000 over twelve months at 22% nominal, with an arrangement fee of SEK 588 plus SEK 57 a month, lands above 40% effective. Almost half the cost sits outside the interest rate. Compare on nominal rate alone and that loan looks a third as expensive as it really is.
Every lender states a rate range, for example 4.95–23.00%. Comparing on the lowest rate in that range is misleading, in practice it is offered only to a small group with very strong finances. We therefore use a typical approved rate per lender: the rate an average approved customer actually gets. That figure is estimated from the lender’s representative example, published averages and the distribution of the range.
The lender’s full range is always shown under “Terms and review” on each card, so you can see how far it can go in either direction.
The score is recalculated every time you change the amount, term or a filter, so it rates the offer for your situation, not the company in general.
| Component | Weight | What is measured |
|---|---|---|
| Cost | 55 % | Effective rate for your amount and term. 4% scores full marks, 60% scores zero. |
| Trust | 18% | Customer ratings and review counts, licence with Finansinspektionen, years on the market. |
| Availability | 15% | Income requirement, whether a betalningsanmärkning is accepted, whether debt at Kronofogden is considered, age range. |
| Flexibility | 12 % | Amount and term ranges, absence of arrangement and invoice fees, payout time. |
Cost weighs heaviest by design. For the great majority of borrowers the difference in total cost between the cheapest and dearest option is far larger than the difference in service quality.
Every figure is checked at least once a month, and immediately whenever we learn of a change of terms. The date of the most recent review is shown at the top of each page.
Kreddo is free for you. We receive payment from some lenders when a visitor signs an
agreement through our links. Those links are marked with rel="sponsored"
and the label “To …”.
The size of that payment is not part of the scoring model and is not available to whoever sets the score. We also list lenders we have no agreement with, several major banks among them, because a comparison containing only paying partners is not a jämförelse.
We do not sell places in the tables, do not charge for favourable reviews and do not publish sponsored editorial content.
If you find an error we want to know, a contact route will be published shortly. Corrected figures are marked with the date of correction, and material corrections are noted visibly next to the figure.
Kreddo is not owned by any bank, lender or broker. No one on the editorial team may hold shares in companies we cover or accept gifts, travel or other benefits from lenders. The team is free to publish critical material about commercial partners, and ending a partnership never leads to a company being removed from the comparisons.
Every factual claim about legislation and rate levels on this page can be traced to a primary source.
Do not wait. Every municipality has a free, confidential budget and debt adviser, find yours via Hallå konsument or the municipal switchboard. They will help you contact lenders, apply for debt restructuring through Kronofogden and set up a repayment plan. Taking a new loan to pay off an old one is almost always the wrong move.
Complain in writing to the lender’s complaints officer first. If you get nowhere you can go free of charge to Allmänna reklamationsnämnden, or report the company to Konsumentverket respektive Finansinspektionen if it concerns licensing.
You can also block yourself from credit checks at UC to stop impulse applications, an effective brake if you feel borrowing has become ett mönster.