Finance 101: Grab Great Offers with an Online Savings Account in Sweden!

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You have money in your bank account and would want to invest it judiciously. Instead of going for unreliable options, you can consider an online savings account in Sweden. Yes, there are services that are registered with Swedish Financial Supervisory Authority and offer the choice of a high-interest savings account. You can open a Viaspar savings account and get an interest rate of 4.5% annually, and the interest rate only gets better with a capital account. These are online services, so the whole process of opening an account is extremely simple and easy. Here is an overview of interest rates and other relevant aspects.

Opening an online savings account

As long as you are a resident of Sweden and have a valid e-ID, you can open an online savings account in no time. The process doesn’t take more than a few minutes, and you can deposit money through Bankgirot. There is usually a limit for both minimum and maximum deposits in an online savings account, so check for that. This is primarily because the interest rate is higher on such loans. Also, keep in mind that these are online services and not covered under Deposit Guarantee Act. Make sure that you select a service worth relying on.

What is an online capital account?

If you want to save some more, go for an online capital account, which offers a guaranteed higher interest rate. These are short-term investments with a binding time not exceeding 3 years. The interest rate can be as high as 8% with some services, and you have to wait for the stipulated period to withdraw the money. Please note that in case you deposit more than what is allowed at the maximum, your money will be withdrawn automatically in your pre-registered bank account. If you want to withdraw the money before the period ends, you may have to pay a withdrawal amount.

Final word

With high interest rate and quick options to open an online account, these services are handy for anyone who wishes to make more money from their regular investments. The good news is you don’t have to invest a lot, and with a good financial service, there are no risks either. Just make sure that you are well-aware of the terms and conditions and have reviewed the details before applying. Check online and sign up for an online savings account now and get a better interest rate.