Do not settle for average interest rate – Swedish newspaper Svenska Dagbladet

To SEB’s customers the lowest average interest does not surprise Annika Creutzer, private financial expert and member of Svenska Dagbladet’s interest Panel. The past three months have their customers reported an average interest rate of 1.65 percent to Interest Map.

– SEB usually give the best discount of the spray only banks, but they usually also provide discount for the shortest period of time. So you have to watch out and make sure to get written that the discount will apply for a long time, says Annika Creuzer.

Worst rates according Interest Map, Länsförsäkringar with an average of 1, 92 percent.

– It is surprisingly large differences between the banks. The spread on the drop interest rates tend to only be 15 basis points (0.15 percent) between the big banks, this is much more than that, says Tomas Pousette, also a member of Svenska Dagbladet’s interest Panel.

The average interest rate for all banks on three-month loans is 1.83 percent. Significantly lower than in February, but nothing you should be happy with when Riksbank’s policy rate is now negative.

– The average interest rate is high and I think it goes to press further for many. The banks are trying to make people believe that they have a very low mortgage rate if they pay 1.83 percent. But it is not so low given that we have a zero-interest community, says Annika Creutzer.

She believes that mortgage holders in Stockholm and Gothenburg have lower interest rates than in other places because talking about interest rates and city dwellers are better able to bargain. That homes are more expensive and that loans are thus larger may also play a role. At the same time, she believes that bank customers in small communities can be better at negotiating mortgage rate and warns that private connections may result in unnecessary high interest rate.

– In smaller cities, you might feel it to be negotiated with private. Man singing in the same choir or so, resulting in a weaker negotiating position. One must learn to ignore their private connections when negotiating mortgage rate, says Annika Creutzer.

Tomas Pousette is not so surprised at the interest rate differential between locations.

– One can guess that it is a bit tougher competition between banks in the major cities and a little less competition in smaller towns. In addition, you can often get a better rate if you take a larger loan.

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