Swedish fintech Nstart launches saving accounts with a government deposit guarantee, as part of its proposal to improve consumer financial well-being.
Using new technology and in-depth data analytics, Nstart helps indebted consumers to start a path to sustainable finances. In the past years, Nstart has helped thousands of customers to lower their ongoing lending costs.
Nstart was recently granted credit institution license (“Kreditmarknadsbolag”) by Sweden's Financial Supervisory Authority and the company’s lending services are now supplemented with savings accounts to give customers better return on their money.
“We are a market leader in sustainable financial services for consumers. By now proudly launching a free fixed-term savings account with better returns on your savings, we take yet another step on our journey to improve consumers’ financial inclusion and health", says Daniel Ahrenby, Nstart’s Chief Executive Officer.
Nstart’s savings services are easy-to-use and free to start. The one-year fixed-term account presently offers higher interest than most comparable accounts in the market. The minimum deposit amount is SEK 2,000 and largest amount is SEK 1,050,000. Fees apply for premature withdrawals or terminations.
The savings accounts are covered by the Swedish government deposit guarantee as decided by the Swedish National Debt Office. Money deposited on the account, up to SEK 1,050,000, is protected if Nstart was to go bankrupt. Read more at nstart.com or riksgalden.se.
Contact
Oscar Hyléen, Deputy CEO and CCO, tel +46709235925, media@nstart.com
About Nstart
Nstart AB is a Swedish fintech and leader in sustainable financial services for consumers. Nstart challenges legacy credit models and growing over-indebtedness among consumers with new technology and analytics methodology for sustainable lending. From April 2023, Nstart offers free savings accounts with better interest rates. The company was founded in 2015 by fintech entrepreneur Oliver Hildebrandt (Ark Kapital). The company operates in Sweden and Norway and had 7,000 customers by the end of 2022. Nstart is a licensed credit institution supervised by the Swedish Financial Supervisory Authority.
