Statlig insättningsgaranti
3.50% — 3.95%

Savings account

Let the money grow in a savings account with interest
Variable savings account
Variable interest rate, free withdrawals, never any fees.
Fixed rate savings account
Fixed interest rate for 3, 6 or 12 months.
3.50
%
Interest - Variable savings account
3.90
%
Interest - 3 months
3.95
%
Interest - 6 months
3.60
%
Interest - 12 months
4.9
Excellent
Government deposit guarantee
Froda is a credit institution with
government deposit guarantee up to SEK 1,050,000
Buffer, down payment and everything in between
No matter what your savings goal is, you'll reach it faster if you save with interest.
Save without risk
Whether you save short-term or long-term, your savings are safe with us thanks to the government deposit guarantee.

General

What is Froda and who is behind it?

Froda is a Swedish credit market company based in Stockholm, Sweden, founded in 2015. By digitising the business loan process, we have made it possible to help more companies with tailored financing based on their unique business idea and operations, at market-leading terms. Froda was founded with the ambition to be a responsible creditor, with clarity and transparency regarding fees and conditions, treating its customers in an honest, fair and professional manner. Froda offers corporate loans, savings accounts for individuals and embedded financing services.

Today Froda is one of Sweden's fastest growing fintech companies and has helped more than 50,000 companies grow. In addition to corporate loans, Froda offers savings accounts for individuals and embedded financing services through Froda Embedded. Froda is a credit institution with a state deposit guarantee and is supervised by the Financial Supervisory Authority (FI). The founders are active in the company and behind the company are many well-known investors, such as Karl-Johan Persson (HM), Nicklas Storåkers (Avanza) and Victor Jacobsson (Klarna).

How do I open a savings account?

You can open a savings account by logging in with BankID here.

What is Froda's savings interest rate?

The interest rate depends on which savings account you have and is shown when you open the account. For savings accounts with variable interest rate, the interest rate can be adjusted both up and down. For fixed-rate savings accounts, the interest rate remains the same throughout the term. The current interest rate can be seen on the website or on My Pages.

Are my funds covered by the government deposit guarantee?

Yes. Read more about the government deposit guarantee here.

Sparkonto

What happens to the money when the term for my fixed-rate savings account expires?

At the end of the term, your savings account will convert to a variable interest rate account. Your money, including earned interest, then becomes available for withdrawal. If you want to continue with a fixed interest savings account, you need to create a new savings account with the desired term and transfer the money to the new account.

Do I need to pay tax on my earned interest?

Yes, when the interest is capitalized, a withholding tax of 30% is deducted, which Froda reports to the Swedish Tax Agency. You do not need to do anything.

Can I view transactions for a closed account?

Yes, if you log in to My Pages, you can select “show closed accounts” and then click on the account you want to see transactions for.

How do I open a savings account?

You can open a savings account by logging in with BankID here.

How do I close my savings account?

Go to My Pages and open your account overview. From there, you can click on your account and then close your account.

I have a savings account with Froda through Avanza, how does it work?

The money in a Savings Account + Froda distributed through Avanza Bank is placed with Froda just like our other savings accounts. If you have savings accounts with Froda both through Froda and through Avanza, the total amount on your accounts is combined, and the total amount is covered by the deposit guarantee limit of 1 050 000 SEK.

Why do I need BankID to open an account?

We need to be able to verify your identity when you open an account and use BankID as the solution to do it.

Can I open a savings account without BankID?

No, you need to have BankID to be able to open a savings account. Read about how to get a BankID here.

How do I log in to my savings account?

You can log in to your savings account by identifying yourself with BankID here.

Can I open a joint savings account?

No, Froda only allows one account holder per savings account.

Is there an annual fee for my savings account?

No, there is no annual fee for any of our savings accounts.

Does it cost anything to open a savings account?

No, it costs nothing to open a savings account.

Can I open multiple savings accounts?

Yes, you can open several savings accounts.

When do I receive my earned interest?

Your earned interest is deposited into your account on December 31st each year and when the account is closed if you have a savings account with variable interest rate. For fixed-rate savings accounts, the earned interest is paid out when the term of the account expires or when the account is closed.

How am I informed about changes in interest rates or fees?

On our website and via My Pages.

Interest

What is Froda's savings interest rate?

The interest rate depends on which savings account you have and is shown when you open the account. For savings accounts with variable interest rate, the interest rate can be adjusted both up and down. For fixed-rate savings accounts, the interest rate remains the same throughout the term. The current interest rate can be seen on the website or on My Pages.

How do I deposit money into my savings account?

Deposits are made through bankgiro to 652-5125 with your account number at Froda as the OCR/reference.

Can I make multiple deposits into my savings account?

It depends on whether you have a savings account with variable or fixed interest rate. Savings accounts with variable interest rate have unlimited deposits. For fixed-rate savings accounts, you can only make a deposit when the account is opened. If you want to make additional deposits to a fixed-rate account after you have opened it, you can open a new account with the desired term. If you try to make additional deposits to an account with fixed-rate, the money will either be placed in a savings account with variable interest rate or paid back to your registered withdrawal account.

Deposits

Are my funds covered by the government deposit guarantee?

Yes. Read more about the government deposit guarantee here.

How much can I save with Froda?

The highest amount, including earned interest, that you can have in the account is limited to SEK 1 050 000. If your balance exceeds that amount, the excess will automatically be paid out to your registered withdrawal account.

Can I deposit money in currencies other than SEK?

No, you can only make deposits in SEK to our savings accounts.

How long can I wait to deposit money after opening a savings account?

The first deposit must be made within 30 days from the day the account was opened.

How long does it take before my deposit appears in my savings account?

You can normally see the deposit in your account within 1-2 banking days.

Is there a maximum limit to how much I can deposit?

Yes, the highest amount you can deposit is 1 050 000 SEK.

Withdrawals

What type of account can be used as a withdrawal account?

Your withdrawal account must be an account in a Swedish bank and include clearing and account numbers. Bankgiro or plusgiro does not work as a withdrawal account.

How do I change my withdrawal account?

You can change your withdrawal account on My Pages. Click on your name in the menu, select "my details" and click on "retrieve my account number". Choose the bank with your desired withdrawal account, authenticate yourself and choose which account you want as the withdrawal account. If you have trouble changing the withdrawal account, you can send a message in the logged-in mode to get help with it.

How do I make withdrawals from my savings account?

Log in to My Pages and select "withdrawal" in the left column.

How long does it take before I have the money in my withdrawal account?

It normally takes between 2-3 banking days.

Can I withdraw money from a fixed-rate savings account?

Yes, you can make withdrawals from a fixed interest savings account against a fee of 1% of the withdrawal amount. The same applies if you want to close the account during its term.

Is there a maximum amount for the amount of withdrawals I can make?

No, but you can never withdraw more money than is in your savings account.

When can I make a withdrawal after making the first deposit?

For savings accounts with variable interest rate, there is no time limit for when you can make your first withdrawal. If you want to make withdrawals from a fixed-rate savings account, it is possible against a fee of 1% of the withdrawal amount.

Uses

Who can open a savings account?

Individuals over 18 years of age who reside in Sweden and have a Swedish bank account.

Can I open a savings account if I don't have a Swedish bank account?

No, you need to have a Swedish bank account to make deposits to your savings account at Froda.

Can I open a savings account if I am not a registered resident in Sweden?

No, you must be a resident of Sweden.

Can I open a savings account for my child who is a minor?

No, we only offer savings accounts for individuals who have turned 18.

Can I open a savings account for a company or association?

No, we only offer savings accounts for individuals.

Other

What is Finshark?

To verify withdrawal accounts, Froda uses a solution from Finshark where bank accounts are verified via BankID. Finshark is a Swedish company under the supervision of the Swedish Financial Supervisory Authority.

What do I need to do to transfer money and close an account belonging to an estate?

When someone passes away, an engagement statement is automatically sent to the deceased estate's registered address with information about the estate's assets at Froda. The deceased's engagement with Froda can only be terminated and the money paid out once the estate inventory is complete. For the money to be paid out to the estate, we need to receive the following documents:

– Closure form for the estate, can be found here.

– Power of attorney, in case one person represents all the estate's heirs or a lawyer assists with the closure. You can find the power of attorney here.

– Copy of ID for all the estate's heirs.

Post the completed and signed form, eventual powers of attorney, and copies of ID documents to us at:

Froda AB

Katarinavägen 9

116 45 Stockholm

How do I make withdrawals if I don't have mobile BankID?

If you don't have mobile BankID to verify your withdrawal account, you can send a message in My PAges with account proof from your bank containing the clearing number, account number, name, and social security number.

How is my personal data handled?

Your personal data is handled in accordance with Froda's Privacy Policy. Read more about it here.

How do I view my account statement?

Log in to My Pages and select the account that you want to retrieve an account statement for. Then select "transactions" in the menu and specify the desired time interval for the account statement.

How do I view my annual statement?

You can download your annual statement under "documents" in the left column on My Pages.

How do I view my commitment statement?

You can download your commitment statement under "documents" in the left column on My Pages.

Feedback

How do I give you feedback?

We would like to know what you think and appreciate feedback on how you experience our products and services so that we can develop and improve them for you. If you want to give us feedback, you can contact us by phone, email, or chat to share your thoughts. Your feedback will be reviewed by the person responsible for the product or service in question and whether or not your suggestion can be implemented, we will get back to you about your feedback.

Information about dispute resolution for consumers

We do everything we can to ensure that you as a customer are satisfied with our services. If a dispute still arises between you and Froda that cannot be resolved by our customer service, you can report your case to the National Board for Consumer Disputes (ARN). Froda participates in ARN's dispute resolution procedure and follows their recommendations for cases that are examined.

You can reach the National Board for Consumer Disputes via:

Website: www.arn.se

Address: PO Box 174, 101 23 Stockholm, Sweden

The European Commission offers an online platform for resolving disputes that have arisen in cross-border e-commerce, outside the courts. Through this platform, you can report your case in all official EU languages.

How do I submit a complaint if I'm dissatisfied with how you handled my case?

If you are dissatisfied, we ask you to first contact Froda's customer service. We would like to resolve any problems or misunderstandings that have arisen in order to take your feedback further.

What can I do if I have submitted a complaint to your customer service but I'm still not satisfied?

If you are still dissatisfied with the answer you received, you can send a written request to the customer ombudsman at Froda, who is responsible for complaints at Froda. The customer ombudsman will then, in an impartial manner, review your case carefully and make a new assessment. Read more about how we handle any complaints and what the written request should contain here.

Dispute Resolution Information for Consumers

We do everything we can to ensure that you as a customer are satisfied with our services. Should a dispute arise between you and Froda that cannot be resolved by our customer service, you can report your case to the General Complaints Board (ARN). Froda participates in ARN's dispute resolution procedure and follows their recommendations for cases under review.

You can reach the General Complaints Board via:

Website: www.arn.se

Address: Postbox 174, 101 23 Stockholm, Sweden

The European Commission offers an online platform to resolve disputes arising in cross-border e-commerce, outside the courts. This platform allows you to report your case in any official EU language. You can find the platform here.

What can I do if I have submitted a complaint to your customer service but am still not satisfied?

If you are still dissatisfied with the answer you received, you can send a written request to the customer ombudsman at Froda, who is responsible for complaints at Froda. The customer ombudsman will then, in an impartial manner, review your case carefully and make a new assessment. Read more about how we handle any complaints and what the written request should contain here.

How do I submit a complaint if I am dissatisfied with how you have handled my case?

If you are dissatisfied, we ask you to first contact Froda's customer service. We would like to resolve any problems or misunderstandings that have arisen in order to take your feedback further.

What do I do if I want to give you feedback?

We would like to know what you think and appreciate feedback on how you experience our products and services so that we can develop and improve them for you. If you want to give us feedback, you can contact us by phone, email, or chat to share your thoughts. Your feedback will be reviewed by the person responsible for the product or service in question and whether or not your suggestion can be implemented, we will get back to you about your feedback.

Froda's savings accounts are covered by the government deposit guarantee

Froda’s savings accounts are covered by the government deposit guarantee. This means that each customer is entitled to compensation for their total balance with Froda up to an amount of 1,050,000 SEK if Froda goes bankrupt or if the Financial Supervisory Authority decides that the guarantee should come into effect. Compensation is paid out by the Swedish National Debt Office within 7 working days from the day Froda is declared bankrupt, or the Financial Supervisory Authority decides that the guarantee should come into effect. Read more about the government deposit guarantee on the Swedish National Debt Office’s website.