Opening An Online Savings Account In Sweden: Things To Know!

Opening An Online Savings Account In Sweden: Things To Know!

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If you live in Sweden and would want a savings account that offers more interest, there are a few options to consider. Before anything else, you should know that these services are legal and registered with Swedish Financial Supervisory Authority. You can consider opening a Viaspar savings account, which can be done online and in a matter of minutes. In this post, we are discussing some of the relevant aspects that are worth knowing about these services.

Applying for a savings account online

Applications can be submitted online, and for that you must have a valid e-ID. The process is usually simple and can be completed immediately. The concerned service will fetch the necessary details from the e-ID. Note that these are internet-based services, so you don’t have to visit a bank or the office of the service. Note that you need to be a resident of Sweden and must have a valid e-ID as mentioned earlier. To make a payment, you must use your OCR number.

What else to know?

These online savings accounts often fetch a better interest rate, but there are a few aspects worth knowing. State Deposit Guarantee may not apply for such services, so if the concerned company is insolvent, there is a chance that you may lose your money. Once you have made the payment, the same should reflect in your account in a matter of one to two days. Also, note that that such online savings accounts do have an upper limited for deposit. This means that you cannot actually save as much as your want, and if your balance exceeds the limit, the excess money will be transferred to your bank account. There is also a minimum amount required to open such an account.

Other kinds of accounts

In case of online savings accounts, there is no binding time, but if you want a better interest rate, you can go for a capital account, which has a higher interest rate, often as much as 6% for just one year. The interest rate is higher for longer binding terms, increasing to 8.00% with some services. If you want to go for an online account – either savings or capital – make sure that you can do your homework well and review the advantages. Nevertheless, this is a better way to get more interest for your unused money. Check online right now to find more details.

Steve Darwin

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