Loans and consumer credit

Information on loans and consumer credit

What loans and consumer credit can I apply for from Nordea?

Our loans to personal customers include home loans, secured and unsecured consumer credit, student loans and credit cards.

Can I apply for a loan from Nordea even though I am not yet a Nordea customer?

• You can fill in a home loan application using another Finnish bank’s online banking codes.
• You can apply for consumer credit if you are a Nordea customer. If you are not yet a Nordea customer, you can easily become our customer through the “Become a customer online” service.

How can I compare different loans?

It is always a good idea to compare loans and loan providers carefully before applying for a loan, as the total cost of the loan may vary greatly. Loan comparison tips:

• Pay attention to the actual annual percentage rate of the loan. The APR will reveal the total cost of the loan; in addition to the interest, it includes all costs such as the opening fee and monthly account management fee.
• You should also take into account the repayment period of the loan, as it will affect the total loan cost.

How can I apply for a loan from Nordea?

The easiest way to apply for a loan is to use the application forms on our website or our mobile services (Nordea Mobile or Netbank).

Who can apply for a loan from Nordea?

You can apply for a loan with us when

• You have a regular income: either a salary or a pension.
• You have no registered payment defaults.
• Your repayment ability is sufficient.

How much can I borrow?

Many factors are taken into account when determining the amount of the loan you are eligible for. We help you find the right loan amount to suit your circumstances and purchase needs, so that you will have no trouble repaying the loan.

Try our loan calculators that help you determine the right loan amount, the repayment period and the total loan costs.

You can apply for unsecured FlexiCredit up to 50,000 euros.

How will the legislation regarding consumer credit and credit cards be amended?

The provisions included in the Consumer Protection Act will be amended temporarily due to the state of emergency related to the coronavirus pandemic. However, none of the amendments will apply to housing loans or consumer credit with residential property placed as security. The amendments will enter into force on 1 July 2020 and will remain valid until the end of 2020. 

Subject to the interest rate cap provision applicable to consumer credit, the interest rate may be 10% at maximum. In fact, the interest rate of consumer credit offered by Nordea, as a rule, has already been less than 10%. The amendment will not apply to credit cards, i.e. their interest rates will remain the same as before. 

Similarly, the fees charged on consumer credit will remain unchanged.