Loan glossary
Twenty terms you will meet in credit agreements, affordability checks and SEKKI sheets — explained briefly, without bank language.
Updated 2 September 2026
The three most important
Effective rate is the total cost of the loan expressed as an annual percentage, including every fee — the only figure comparable between lenders. The interest rate cap is 22.00% during 2026 and caps how bad it can get. The total cost cap means you can never owe more than double the amount borrowed.
- Amortering (principal repayment)
- The part of the monthly payment that reduces the debt. The rest is interest and fees.
- Annuitetslån (annuity loan)
- A loan where you pay the same amount every month. The interest share falls and the principal share rises over time.
- Betalningsanmärkning
- A note held by credit reference agencies recording that you failed to pay a debt on time. It stays on file for three years for private individuals. There is no exact equivalent outside Sweden.
- Blancolån (unsecured loan)
- A loan without security. The same thing as a personal loan.
- Effektiv ränta (effective rate)
- The total cost of the loan expressed as an annual percentage, including all fees. This is the figure to compare.
- Högkostnadskredit (high-cost credit)
- Credit with an effective rate at least 30 percentage points above the reference rate. Subject to specific warning requirements.
- KALP
- Kvar Att Leva På — literally 'left to live on'. The bank's calculation of how much you have left after housing, loans and living costs.
- Kostnadstak (cost cap)
- The rule that the cost of credit may never exceed the original loan amount.
- Kreditupplysning (credit check)
- A check of your finances at UC or Creditsafe. Many checks in a short period lower your credit rating.
- Kronofogden
- The Swedish Enforcement Authority, which collects unpaid debts. A debt there is known as an allmänt mål or enskilt mål.
- Medsökande (co-applicant)
- A person who applies for the loan with you. Often lowers the rate because two incomes are assessed.
- Nominell ränta (nominal rate)
- The interest rate itself, excluding fees. Always lower than the effective rate.
- Rak amortering (straight-line repayment)
- You repay the same amount of principal every month. High payments at the start, lower at the end.
- Referensränta (reference rate)
- The rate set half-yearly by Riksbanken that the rate cap is based on. 2.00% for the second half of 2026.
- Räntetak (rate cap)
- The maximum rate on consumer credit: the reference rate plus 20 percentage points, so 22.00% during 2026.
- Samlingslån (consolidation loan)
- A new loan that settles several more expensive credits, leaving you with one payment and one rate.
- Skuldsanering (debt restructuring)
- A legal process via Kronofogden where you pay what you can for normally five years, after which the remainder is written off.
- UC
- Upplysningscentralen, Sweden's dominant credit reference agency. You can obtain your own report free of charge.
- Uppläggningsavgift (arrangement fee)
- A one-off fee when the loan is paid out. In 2026 it may be at most SEK 592, which is 1% of the prisbasbelopp.
- Ångerrätt (right of withdrawal)
- Your right to withdraw from a credit agreement within 14 days. You pay interest only for the days you held the money.