Lumify
Lumify offers account credits primarily tailored for quick and short-term financial needs. Their loan options can be attractive, especially for new customers who can benefit from an interest-free month on loans of at least 16,000 SEK. However, it should be noted that this benefit only applies to the first month.
For those who need access to money immediately, even during inconvenient times, Lumify offers round-the-clock payouts. This means borrowers can access funds even on weekends and evenings, which many other lenders cannot guarantee.
Loan Costs and Terms
It is important to be aware that Lumify's credit has a relatively high cost
Loan terms
Loan amount: 2000 - 70000 kr
Duration: 30 - 365 days
Interest: 44% - 44%
Eff. interest: 12.87% - 236.5%
Age: 18 - 75 years
First loan free: Yes
Payment remarks accepted: No
Setup fee: 730 kr
Administration fee: 60 kr
Invoicing fee: 60 kr
Direct payment: Yes
Weekend payment: Yes
Revolving credit: Yes
Minimum required annual income: 0 kr
Representative example
A loan of 9,500 SEK at an interest rate of 44.00% with a repayment period of ten months (with ten repayments of 1,880 SEK, 1,547 SEK, 1,510 SEK, 1,473 SEK, 1,436 SEK, 1,399 SEK, 1,362 SEK, 1,325 SEK, 1,288 SEK, and 1,251 SEK) and a setup fee of 1,105 SEK, a minimum payment amount of 1,155 SEK, and invoice fees of 600 SEK results in an effective interest rate of 188.16% in total. The total amount to be repaid is 14,670 SEK. The loan term and associated costs may change if the loan is extended.
This is a high-cost credit. If you cannot repay the entire debt, you risk a negative credit record. For support, contact your municipality’s debt advice.