Since the Riksbank (the Swedish central bank) began lowering interest rates in May, Swedish banks have followed suit to varying degrees, many facing criticism for being too slow.
August figures show Danske Bank has the lowest average interest rate for 3-month loans at 4.25%. Handelsbanken offers the lowest 2-year fixed rate at 3.14%.
All banks have reduced rates since the beginning of the year, but the pace and extent of these cuts have varied. Borrowers are encouraged to compare offers from different lenders to find the best deal.
Danske Bank is followed by SEB and the smaller state-owned player, SBAB, at 4.29 and 4.30 percent respectively. Nordea and Swedbank have the highest rates at 4.45 and 4.41 percent.
Since the beginning of the year, banks have lowered their variable mortgage interest rates by approximately the same amount as the Riksbank has cut its rate, 0.50 percentage points.
Fixed interest rates have also fallen this year, in line with declining inflation and lower overall interest rates. For a 2-year fixed mortgage, Handelsbanken offers the lowest average rate in August at 3.14%, followed by SEB, while Danske Bank has the highest rate at 3.60%.
Since the beginning of the year, the 2-year fixed rate has fallen from around 4%.
The comparison includes Swedbank, Handelsbanken, SEB, Nordea, Danske Bank, and SBAB.