How do you identify a good loan?

There can be significant differences in the costs and terms of different loans, even if they at first look similar. It's therefore sensible to pay attention and be alert when deciding where you get your loan from. For instance, pay attention to the annual percentage rate of charge of the loan, as it includes all the costs and payments of the loan.

A good loan has:

  • A reasonable interest rate compared to other operators.
  • Low costs
  • Fair terms. You can, for example, make payments in advance without costs, or get a longer payment period without the monthly payment growing too big.

Compare the right things

Remember that the nominal interest of the loan, in other words, the interest charged on the loan, is not the whole truth. Always check the annual percentage rate of charge (ARP), when comparing different loans. APR will show the total costs of the loan, in other words, in addition to the interest, all costs such as the opening fee and the account management fee. 

Read carefully the loan terms to find out, for example, how does the length of the payment period or changes in the payment period affect the total price of the loan. A reliable bank will have transparent pricing.

Make note also of hidden costs

Check if the loan involves extra costs such as fees for partial drawdowns. Some operators may present the costs as percentages, which makes comparison more difficult. 

A monthly payment suiting your situation

The quicker you want to repay your loan, the larger the monthly payments. Even if your loan has a low interest rate and not much costs, it can be difficult to repay the loan as quickly as you want. Make careful calculations on what kind of a monthly payment you can afford before you take out a loan. Take also into account that interest rates may rise if your payment period extends.

What will FlexiCredit cost for you?

Make your own loan calculation

Unsecured FlexiCredit

You can get unsecured consumer credit from 2,000 euros up to 50,000 euros. FlexiCredit is a one-off loan which you can raise later, if needed.

Read more about FlexiCredit

Is it a good choice to take out FlexiCredit?

FlexiCredit is a good choice when your repayment ability is stable. Check here when it is ok to take out a loan and when you should avoid it.

Read more about when to take out FlexiCredit

What if you cannot repay your loan?

We will help you to put your finances in order. You can take out instalment-free months or reduce the amount of your monthly payment, for example.

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