Loanstep

1K+
Downloads
Content rating
Everyone
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About this app

With LoanStep's app, you can apply for a loan and receive notifications directly in the app. If your application is
approved, you can have the money in the account the same day. You can also see the status of ongoing loans,
when the next payment is due and how much you have left to pay. There is also an opportunity here
to top up your loan, if necessary.

Borrow up to SEK 25,000* with the option to borrow money free of charge for 14 days.

Unsecured Loans
LoanStep mediates loans without collateral, colloquially known as blank loans. In short, you can
say that this means that you as a borrower do not have to leave anything in "pledge" in exchange for yours
loans, such as a car or home. The loan intermediary, in this case LoanStep, bases
instead, your loan application on your ability to repay the loan on time.

This is how the application process goes:

1. You apply to borrow money directly in the app
We offer loans of SEK 10,000, SEK 15,000, SEK 20,000 and SEK 25,000 with a term of 36
months.

The annual (maximum) credit rate is 21.45% and the repayment period is 36 months through 36 installments. The (maximum) effective interest rate is 32.45%.

If you repay so that we have the money back within 14 days, you pay no fees or interest at all (you pay the same amount as you borrowed). The earlier you repay your loan, the more you save in the form of lower interest and fees.

2. We process your loan digitally
You start by logging into the app with BankID. You then have to fill in some brief information about your financial situation, the purpose of the loan and finally you accept our terms and conditions. You must also answer our customer awareness questions that we are required to ask under the Money Laundering Act. There is also the option of taking out our group insurance, LoanStep
Invoice protection (You can read more about the insurance here).

Once this has been done, a credit report is taken and you can then choose to which account the money should be paid. Finally, we do a manual check of your financial situation to make sure that you have the ability to repay the loan.

3. The money is paid out to your account
If you submit your application on a weekday before 12:00, you will receive a notification from us the same day and if your loan is approved, the money will be in your account by 17:00 at the latest. If you apply on an afternoon/weekend, you will receive a response from us and (if your application is approved) the money in the account the next banking day.

Keep track of your loan in the app
You who already have a loan with us can use the app to keep track of your current loan. You can see credit amount, debt today and when the next payment is due. You can also choose to take a closer look at your payment plan, repay the loan in full or insure your loan. Under settings, you can manage your direct debit and change accounts for your automatic repayment.

Option to top up existing loan
If you have an ongoing loan that you pay according to plan but discover that you need to borrow more money, you can use the app to top up your loan to the original loan amount again.

Contact customer service or take part in our loan school
If you have questions or concerns, you will find contact details for our customer service directly in the app.

You can also learn more about finances in LoanStep's Loan School, where we go through everything you should know about how interest rates work and why a budget is a wise option.

Information on Annual Loan Interest & Effective Interest:
* A loan taken on 2023-05-09 with a credit amount of SEK 27,500 at 21.45% fixed annual credit interest with a repayment period of 36 months which is repaid through 36 installments of approx. SEK 1,042, gives an effective interest rate of a total of 32.45% . The total to be paid is SEK 40,028, of which SEK 2,500 is the credit brokerage fee for the credit brokerage service SBL Finans AB
provides. Credit brokerage takes place in collaboration with SBL Finans AB's peer to peer lending.
Updated on
Aug 31, 2023

Data safety

Safety starts with understanding how developers collect and share your data. Data privacy and security practices may vary based on your use, region, and age. The developer provided this information and may update it over time.
No data shared with third parties
Learn more about how developers declare sharing
This app may collect these data types
Personal info, Financial info, and App activity
Data is encrypted in transit
You can request that data be deleted