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Printed by customer 2012.02.11

Affordable student loan for Check-in Customers

With finances in order, you can concentrate on studying.

A student loan is a secure and inexpensive way to finance your life while you study. You can apply for a student loan in Nordea's Netbank or at a Nordea branch. To be eligible for a student loan, you need Kela’s decision on student financial aid.

When comparing student loans, as well as other forms of financing, we recommend you pay attention to the actual annual interest rate charged on the loan. Besides the reference rate and the margin, different fees and account management costs affect the actual annual interest rate.

After completing your studies, you will agree on a flexible repayment schedule to suit your situation at that time. Usually repayment starts about 1.5 years after the studies have been completed.

As Nordea's Check-in Customer

  • you get an affordable margin of 0.2 % on your loan (normally 0.5 %).
  • you are not charged the arrangement fee (EUR 10) when you draw down  a new student loan or raise the amount of your existing loan.
The actual annual interest rate of student loans for Check-in Customers

The actual annual interest rate is 3,2 % when

  • the loan amount is EUR 4,500
  • the interest rate 2,302 %
  • the loan period 15 years
  • the arrangement fee 0 %.

The calculation includes the automatic debit of loan repayment cost of 1.80 euros. The reference rate in the example is 12 month Euribor, the quotation of which was 2,102 % on 08 Aug 2011.