Updated on 27 June 2019
Founded in 2005, Klarna provides financial services for online shopping market. Klarna adheres to the concept of after delivery payment, when buyers receive ordered goods before any payment is due. At the same time, Klarna assumes the credit and fraud risk so that retailers be sure that they will receive their money.
Established in 1987, TF Bank is a Swedish credit institution offering sales financing to e-commerce business clients, savings accounts to individuals and personal loans to individuals.
Nordiska provides a broad range of savings products to private individuals and financing and factoring solutions to corporate customers.
Nordax Bank was established in 2004 in Sweden. Nordax Bank provides loans and deposit products to private individuals. Nordax Bank operates in the Nordic market: Sweden, Norway, Finland, Denmark and Germany.
Hoist Finance is a Swedish financial company, specializing in providing debt restructuring services to international banks. Hoist Finance offers a broad spectrum of flexible and tailored solutions for acquisition and management of non-performing unsecured consumer loans.
Germany: This product is offered to German residents only. When clicking on the product link you will be redirected to the product page in German.
Time deposits accounts are interest-bearing deposit acoounts offering higher interest rates than savings accounts. However the money deposited to such account cannot be withdrawn for a specified period of time (term).
The table above shows essential details of selected time deposit products offered to retail customers by the banks in Sweden: currency, interest rate per annum and deposit term. The time deposit accounts terms vary from 3 month to 4 years (48 months). The interest rates are within the range 0.25 - 1.80 %. The interest rates provided in the table do not take into account withholding tax levied on interest income in Sweden.
Time deposit accounts made with credit institutions in Sweden are covered by deposit guarantee scheme up to 950,000 SEK per depositor.
In February 2019, average annual deposit interest rate in local currency (Swedish krona/kronor) of new contracts with fixed term up to 1 year between credit institutions and retail customers (households) was 0.07 %.
Sweden's Moodys country ceiling (the highest rating that can be assigned) for deposits in local currency is set to Aaa (prime).