According to the Swedish Tax Agency's assessment, the disappearance of the right to deduct loans without collateral, so-called unsecured loans, will affect 5.8 million people.
Many people think that only those with really bad finances take out that type of loan, but that's actually not true, points out Christina Sahlberg, savings economist at Compricer.
In addition to SMS loans, this can include account credits and installment purchases. The change is taking place in stages:
For the income year 2025, you may only deduct half of the interest expenses.
In the coming income year, 2026, you may not make any deductions at all.
High interest rates
These loans are already quite expensive and have high interest rates. Now it will be much more expensive and I think many people don't know about this. The most important thing is to start reviewing which loans you have without collateral, says Christina Sahlberg.
One possibility is then to try to move the loan. Christina Sahlberg gives the example of someone who has taken out a blank loan for their car.
Then maybe I can turn this into a car loan and suddenly get to deduct 30 percent of the interest, she says and gives another example:
Can I borrow more on my mortgage, but then you have to take into account amortization requirements. This of course requires that you also have a mortgage.
Consolidate the loans
Another option is to try to consolidate your loans, Christina Sahlberg points out:
You often get a better interest rate if you have a higher amount.
For those who have the opportunity, the best option is of course to try to pay off the loans.
However, anyone who does not have time to resolve their loan situation before the end of the year should not give up, says Christina Sahlberg.
If you switch when you can, you may only have to pay interest for a few months. It doesn't matter if it's later in the year, as long as you do something about it.
