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Personal Loans Compared: APR, Fees and Repayment Cost
Five Swedish personal-loan options compared by advertised rate, loan size, fees and repayment structure, from 4.95% APR to 30.04%.
Quick Picks
Best overall: Zmarta Privatlån, with the lowest listed rate at 4.95% and one application that can produce several offers.
Best for an established bank relationship: Nordea Privatlån, although the supplied data does not show its full fee or repayment schedule.
Best for small, automated credit: Saldo Privatlån, but its 30.04% listed rate and multiple fees make it the expensive fallback.
These five products are not interchangeable. Zmarta and Lendo are loan brokers, while Nordea and Bank Norwegian provide lender products directly. Saldo is a revolving credit facility rather than a conventional fixed personal loan, so comparing only the headline rates would miss the main cost difference.
Rates and terms shown are representative. Your actual rate depends on your credit profile and circumstances. This is not financial advice — always read the lender's terms before applying.
The lowest advertised rates are concentrated here
The three cheapest listed rates sit within 0.29 percentage points of one another: Zmarta at 4.95%, Lendo at 5.07% and Nordea at 5.24%. That gap looks small, but the lender's final offer, fees and term can matter more than the ranking shown here.
There is another important distinction. A broker lets you compare offers, but it does not guarantee that the lowest advertised rate will be available. A direct lender may be easier to manage after approval, yet you see fewer offers in one application.
Zmarta Privatlån
Zmarta has the lowest listed rate in this comparison at 4.95%. According to the lender's website, one non-binding application can generate several offers, with one UC credit check regardless of the number of offers. The stated range runs from 5,000 kr to 800,000 kr, and the page illustrates a 15-year example costing about 4,480 kr per month and 806,432 kr in total. That example is the detail many borrowers miss: a low monthly payment can conceal a long repayment period and substantial total interest. Zmarta is the strongest starting point for borrowers who want to compare several offers, especially for debt consolidation, but the UC check still matters and the final rate depends on the applicant's profile. See the Zmarta Privatlån page for the current calculator and terms.
Lendo Privatlån
Lendo's listed rate is 5.07%, only 0.12 percentage points above Zmarta's figure. The supplied page confirms a personal-loan comparison service, but it does not provide enough detail here to verify the loan range, fees, approval speed or total repayment. That missing information is the weakness, not a minor footnote: a 5.07% headline rate cannot be compared fairly with Zmarta's published repayment example until the same amount and term are entered. Lendo may suit a borrower who wants a second broker comparison, but check the resulting offer for origination fees, monthly charges and the effective rate rather than stopping at the displayed starting rate. The official Lendo Privatlån page is the source for current application terms.
Nordea Privatlån
Nordea's listed rate of 5.24% is 0.29 percentage points above Zmarta's, but the supplied page content does not disclose the loan amount range, fees, approval timing or a representative monthly payment. That makes Nordea difficult to rank on cost alone. The direct-bank structure may appeal to borrowers who prefer one provider and an existing banking relationship, while a broker such as Lendo or Zmarta can expose more than one offer from a single application. I would not choose Nordea solely because the rate appears low; first confirm the effective rate, setup fee, monthly fee and total repayment for the exact amount required. Current terms should be checked on the Nordea Privatlån page.
Zmarta wins the rate-and-comparison argument, but the difference between 4.95% and 5.24% is not enough to decide a loan by itself. A 15-year term can produce a much larger total cost than a shorter loan at a slightly higher rate. The practical next step is to compare identical amounts and terms, then rank the offers by total repayment.
That leaves one direct lender with a wider stated borrowing range and another product aimed at smaller, automated credit. Their use cases are materially different.
Large borrowing capacity, but less rate detail
Bank Norwegian publishes a loan range of 10,000 kr to 600,000 kr. That is useful for larger purchases or consolidation, but its listed rate is the highest among the conventional personal-loan products here.
Bank Norwegian Privatlån
Bank Norwegian lists personal loans from 10,000 kr to 600,000 kr, making it the clearest fit for a larger borrowing need in this set. Its listed rate is 6.21%, higher than Zmarta, Lendo and Nordea, so the extra capacity has to justify the added cost. The supplied page describes an unsecured loan for general use, but it does not show a representative monthly payment, total repayment, origination fee or approval time. That makes a direct cost comparison impossible from the available figures. Borrowers considering 100,000 kr or more should calculate the total repayment at the offered term and compare it against broker quotes before accepting. The official Bank Norwegian Privatlån page should be used to verify current terms.
Bank Norwegian is the only option here with a clearly stated ceiling of 600,000 kr, but capacity is not the same as value. A borrower needing 25,000 kr may pay more than necessary if the higher listed rate outweighs the convenience of a direct application. The final product is a different category altogether: revolving credit with explicit fees.
Small emergency credit: the expensive fallback
Saldo's numbers are unusually clear, and they are not flattering. The listed rate is 30.04%, with a 39 kr monthly fee, a 390 kr setup fee and a 195 kr withdrawal fee. The example shows 1,559.23 kr per month over 29 months, including 22% interest in the displayed calculation.
Saldo Privatlån
Saldo is a credit account with a limit of up to 40,000 kr, not a conventional fixed personal loan. The supplied page lists automated application processing and a 30.04% rate, plus a 39 kr monthly fee, 390 kr setup fee and 195 kr withdrawal fee. Its example totals 1,559.23 kr per month over 29 months, but the displayed figures should be checked carefully because the page separately shows a 22% interest line. This is the highest-cost product in the comparison by a wide margin. It may be relevant only to a borrower who cannot qualify for the lower-rate products and needs a small credit line, but using it for debt consolidation could worsen the debt rather than reduce it. Review the Saldo Privatlån page and confirm every fee before drawing credit.
Final recommendations
For a borrower with stable income and a strong credit profile: start with Zmarta, then compare the resulting offer with Lendo and Nordea using the same amount and repayment term. Zmarta's 4.95% listed rate and multi-offer application give it the strongest opening position.
For someone borrowing 100,000 kr or more: include Bank Norwegian because its stated ceiling reaches 600,000 kr, but accept it only if the total repayment remains competitive after fees and term length are included.
For a borrower who prefers one established bank: Nordea may be easier to manage, but the available data is too thin to call it the cheapest. Request the effective rate and full cost breakdown first.
For a borrower comparing brokers: Lendo is close to Zmarta on the listed rate, while Zmarta provides more visible repayment data in the supplied material. Use both only if the additional credit inquiry and application terms make sense.
For a borrower with damaged credit who needs up to 40,000 kr: Saldo is the fallback, not the bargain. The 30.04% listed rate and layered fees can turn a short-term gap into a costly balance. If repayment is uncertain, taking this credit may create a larger problem than the original expense.
The cleanest decision rule is simple: compare effective rate, fees, monthly payment and total repayment for the same amount and term. Headline APR is the starting point, not the final answer.