Before borrowing

If you need to borrow money, it is important to read up on the type of loan that works best for you. Talk with several banks, compare the terms and costs of various loans.

You always have the right to receive preliminary information, a draft of an agreement, before deciding what loan you want and what bank to borrow from. The draft can give you a sense of what a loan agreement with that particular bank would involve, the costs associated with borrowing, etc.

The bank that is lending you the money must explain the terms of the loan. It is important that you read up on what is involved, as well as the advantages and disadvantages of various types of loans.

The bank is not required to lend money - it can deny your loan application no matter how good your finances are. But you are entitled to find out why you were turned down for a loan.

Credit rating and check

Before granting a loan, the bank has to make sure that you are able to pay it back. Generally speaking, the bank will order a credit check for that purpose. You will receive a copy of the credit information in the post within several days.

Before taking out a loan, it is important that you review your finances and decide whether your circumstances will permit you to pay it back.

To Budgetkalkylen

Mer om hur lån fungerar på Konsumenternas webbplats

Mer om förhandsinformation på Konsumenternas webbplats

Mer om kreditprövning på Konsumenternas webbplats 

This text has been translated from Swedish. Bear in mind that the translation may differ slightly from the original text. The source has only proofread the Swedish text.

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