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Northmill Bank review

Updated September 28, 2026 · SumCue Editorial Team · Facts checked September 26, 2026

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Our verdict

Northmill Bank pairs a Swedish easy-access savings account with a direct credit line, so the account side carries no monthly fee and a deposit guarantee, while the credit line comes with a hard credit check and a withdrawal fee. It suits savers who want instant access and a variable rate.

Key facts

Best for
Swedish savers who want instant access, no monthly fee and a deposit guarantee, plus an optional credit line.
Monthly fee
SEK 0↗
Card type
Debit↗
Card network
Visa↗
Legal entity
Northmill Bank AB↗
Headquarters
Sweden↗
Founded
2006↗
Support channels
Chat, Phone, Help-centre↗
Features
Multi-currency
Official website
northmill.com

Loans

APR
9.71% to 29.34%↗
Loan amount
SEK 50,000↗
Term
60 months↗
Arrangement fee
245 SEK per withdrawal↗
Credit check
Hard↗
Funding time
Available directly after credit approval↗
Representative example
50,000 SEK over 5 years at 19.50% variable, 245 SEK withdrawal fee, 22.87% effective rate↗
Rate type
Variable↗
Lender type
Direct lender↗
Free early repayment
Yes↗
Loan types
Credit-line, Debt-consolidation↗
Pricing model
No monthly fee

Savings

Headline rate
1.8%↗
Minimum deposit
SEK 0↗
Deposit protection
EU DGS up to EUR 100,000↗
Access terms
Free withdrawals and deposits, interest from the first krona, no minimum deposit, Swedish state deposit guarantee↗
Account kind
Easy access↗

Facts checked September 26, 2026, 10 sources

Apps and profiles

Get the app
App StoreGoogle Play
Elsewhere
LinkedInTrustpilotX

Pros and cons

Pros

  • The savings account charges no monthly fee, with a minimum deposit of SEK 0
  • Deposits sit under the Swedish state deposit guarantee, and EU DGS up to EUR 100,000 applies
  • The credit line is a credit line and debt consolidation product with free early repayment and Available directly after credit approval
  • Support runs on chat, phone and help centre

Cons

  • The credit line applies an origination fee of 245 SEK per withdrawal on each withdrawal
  • The credit check for the credit line is a hard credit check, hard
  • The savings rate is variable at variable, so 1.8% can move
Northmill Bank

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Scored 9.2 / 10 by SumCue.

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Who it suits

  • Swedish savers who want an easy-access account with SEK 0 and no monthly fee
  • Borrowers consolidating debt who want a credit line with free early repayment
  • Multi-currency users, since multi currency is supported

Who should look elsewhere

  • People who need a guaranteed return, since the savings rate is variable at variable
  • Borrowers who want no fee per drawdown, as 245 SEK per withdrawal applies
  • Applicants with limited credit history, as the check is a hard credit check

Rates and card terms

The savings account pays a headline rate of 1.8% that is variable, and it needs a minimum deposit of SEK 0. The account is an easy-access account, so money can move in and out without a fixed term or notice period. The credit line runs at an APR of 9.71% to 29.34% over a term of 60, and free early repayment is allowed.

How Northmill Bank compares

Where Northmill Bank is available

Available
Austria, Denmark, Finland, France, Germany, Italy, Netherlands, Norway, Poland, Spain, Sweden, Switzerland, United Kingdom

Countries from the brand (Source, checked September 26, 2026)

Frequently asked questions

Is there a monthly fee on the Northmill Bank savings account?+

No monthly fee applies, and the model is listed as no monthly fee. The minimum deposit is SEK 0, so you can start from nothing and still hold an easy-access account.

How much interest does the account pay and can the rate change?+

The headline rate is 1.8% and the rate type is variable, which means the return can move in either direction. Anyone relying on a fixed return for a set plan should read the terms carefully.

Is my money protected if the bank fails?+

The savings account sits under the Swedish state deposit guarantee. Deposits are covered by EU DGS up to EUR 100,000, so protection sits under the EU deposit guarantee scheme.

What does the credit line cost to draw down?+

Each withdrawal carries an origination fee of 245 SEK per withdrawal. The credit line runs at an APR of 9.71% to 29.34%, so the cost of borrowing depends on how much you draw and for how long you keep it outstanding.

How long is the credit line available for?+

The term on the credit line is 60, and it covers a loan amount of SEK 50,000. Funding is Available directly after credit approval.

Can I repay the credit line early without a charge?+

Yes. Free early repayment applies, so you can clear the balance early without an extra fee. That makes the line easier to plan around if your income changes.

What credit check do I need for the credit line?+

The credit check is a hard credit check, which is the standard check used across most of the lenders listed here. A hard search is recorded on your file, so it is worth checking your credit file first.

How do I get help if something goes wrong?+

Support runs on chat, phone and help centre, so you can reach the team by chat, phone or the help centre. The legal entity behind the brand is listed as Northmill Bank AB.

Sources

Compiled from 11 source pages, checked September 26, 2026. We did not open an account.

Not confirmed yet: Currency conversion fee, Free ATM withdrawals, Protection.

Northmill Bank

Northmill Bank

Swedish savers who want instant access, no monthly fee and a deposit guarantee, plus an optional credit line.

9.2/10See alternatives