Banking services for 15-year-olds

A student loan is designed to help cover the day-to-day expenses of students. A minor can apply for and draw down a student loan with their guardians’ consent.

When applying for a student loan for a minor, the applicant must fulfil certain criteria to be eligible for a state guarantee. A student loan with a state guarantee can be granted to applicants under the age of 17 if they do not live with their parents and if their parents’ annual income is less than 64,400 euros in total. More information about student loans for minors is available on Kela’s website. 

Guardians can give their authorisation and consent to a minor’s student loan by contacting Nordea Customer Service and authenticating their identity with their personal online banking codes.  They can also give their consent in branch with a power of attorney.

With their guardians’ consent, a minor can apply for and draw down a student loan by contacting Nordea Customer Service if they have online banking codes from Nordea. If they do not have online banking codes, they can apply for and draw down a student loan in branch.

It’s never too early to start ASP saving. A minor can open an ASP account with their guardians’ consent.

Until a minor turns 18, they may only deposit earnings from work. Money gifted by parents, grandparents or other close relatives, for example, may not be deposited in the ASP account.

If a minor has online banking codes, they can open the ASP account by contacting Nordea Customer Service where both the minor and their guardians can be authenticated by their personal online banking codes. If a minor does not have online banking codes, they can open the ASP account in branch. The guardian accompanying them to the branch must bring with them a power of attorney from the other guardian, if any.

A statement on the origin of the funds in a minor’s ASP account must be provided to Nordea at least once a year. The statement can be made on a form template provided by the State TreasuryOpens new window, for example. For more information about the ASP account and saving for a minor, please contact Nordea Customer Service.