Northmill Bank review

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

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Our verdict

Northmill Bank suits Swedish adults who want a flexible credit line they can draw on and repay as they go. You can borrow up to SEK 50,000 at a variable 9.71% to 29.34%, with money available as Available directly after credit approval.

Key facts

Best for
Borrowing in stages from a credit line rather than taking one lump sum.
APR
9.71% to 29.34% (Source, checked September 26, 2026)
Loan amount
SEK 50,000 (Source, checked September 26, 2026)
Term
60 months (Source, checked September 26, 2026)
Arrangement fee
245 SEK per withdrawal (Source, checked September 26, 2026)
Credit check
Hard (Source, checked September 26, 2026)
Funding time
Available directly after credit approval (Source, checked September 26, 2026)
Representative example
50,000 SEK over 5 years at 19.50% variable, 245 SEK withdrawal fee, 22.87% effective rate (Source, checked September 26, 2026)
Rate type
Variable (Source, checked September 26, 2026)
Lender type
Direct lender (Source, checked September 26, 2026)
Free early repayment
Yes (Source, checked September 26, 2026)
Loan types
Credit-line, Debt-consolidation (Source, checked September 26, 2026)
Legal entity
Northmill Bank AB (Source, checked September 26, 2026)
Headquarters
Sweden (Source, checked September 26, 2026)
Founded
2006 (Source, checked September 26, 2026)
Support channels
Help-centre (Source, checked September 26, 2026)
Features
Credit line, Same-day funding
Official website
northmill.com

Apps and profiles

Get the app
App Store
Elsewhere
TrustpilotLinkedIninstagram.com

Pros and cons

Pros

  • A credit line lets you withdraw only what you need and repay early free of charge
  • Money reaches you as Available directly after credit approval
  • Large borrowing room at SEK 50,000 for consolidating debts or a bigger project
  • Free early repayment means clearing the balance sooner costs nothing

Cons

  • The rate is variable, so the cost of an open balance can move
  • A fee of 245 SEK per withdrawal applies on each withdrawal, so frequent draws add up
  • Support runs on help centre only, so self service does most of the work
Northmill Bank

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Scored 9.1 / 10 by BorrowCue.

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Who it suits

  • You are consolidating several existing debts into one balance
  • You would rather pay a variable rate than commit to a fixed one
  • You want to draw money in stages and repay as income arrives

Who should look elsewhere

  • You want a fixed rate for a set term, where Sofkredit may suit better
  • You need a large single advance in Spain, where Creduma ES lists its own minimum
  • You prefer an app based line over a bank account, where Monzo Flex may suit better

Safety and regulation

Northmill Bank AB lends in Sweden and is supervised by Finansinspektionen, the Swedish Financial Supervisory Authority, so the account sits with a regulated bank rather than a broker or marketplace. The representative example shows SEK 50,000 drawn and repaid over a set period, with the rate variable, so the figure moves with the market. Support is through help centre.

How Northmill Bank compares

Where Northmill Bank is available

Available
Sweden
Licence in Sweden
Finansinspektionen (Swedish Financial Supervisory Authority), checked September 26, 2026

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

Frequently asked questions

What rate will I pay on a Northmill Bank credit line?+

The rate is variable and runs at 9.71% to 29.34%, so the cost of an open balance can shift with the market. Northmill Bank sets the rate on your account, and the published range shows the spread you may be offered.

Is there a fee for each withdrawal?+

Yes, there is a fee of 245 SEK per withdrawal each time you draw money on the line. Because the fee applies per withdrawal, it pays to draw what you need in one go rather than in small amounts.

How much can I borrow?+

The credit line is worth up to SEK 50,000, which gives room for both a large purchase and for bringing several debts together. How much you are actually offered depends on your own circumstances and the assessment you receive.

How long do I have to repay?+

The available term runs to 60, giving you room to spread repayments rather than clear the balance quickly. Repayments are made as you draw and repay, so the schedule follows your own pace of use.

What credit check do I go through?+

The check is hard, which means the decision relies on a full credit assessment. A hard search is recorded on your credit file, so it is worth considering before you apply rather than after.

How fast do I get the money?+

Funding is available as Available directly after credit approval, so you are not left waiting for a long settlement period once a decision is made. Same day funding also appears among the features listed for the account.

Is my money protected?+

Northmill Bank is a Swedish bank, Northmill Bank AB, supervised by Finansinspektionen, the Swedish Financial Supervisory Authority. Deposits held with a bank are covered by the Swedish deposit protection arrangement, so a bank balance is the safer home for savings.

Can I repay early without a charge?+

Early repayment is free, so settling the balance earlier costs nothing beyond the outstanding amount. That makes the line easier to clear if your income improves or a large expense passes.

What can I use the money for?+

The line covers debt consolidation and general credit line use, credit line and debt consolidation. Consolidation lets you place several existing debts on one balance, and the fee applies each time you withdraw rather than as a single arrangement charge.

Sources

Compiled from 5 source pages, checked September 26, 2026. We did not open an account.

Northmill Bank

Northmill Bank

Borrowing in stages from a credit line rather than taking one lump sum.

9.1/10See alternatives

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