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What is a secured loan?

Nordea’s secured loans are consumer credit you can use to make home improvements or a larger one-off purchase, such as buying a car or a boat.

  • The minimum amount you can borrow is 15,000 euros.
  • The loan period is 1–20 years.
  • The interest rate is the 12-month Euribor plus a personal margin that depends on how much you bank with us.
  • Assets that can serve as collateral include your home or an investment property, for example. 
  • Your loan will include a unique FlexiPayment feature, which allows you to reduce or increase the amount of your next monthly instalment in Nordea Mobile or Netbank. 

The costs of a secured loan comprise loan interest and a monthly loan servicing fee. 

By adding an interest rate collar to your loan, you can protect your loan against changes in its reference rate for years to come.

No collateral to secure the loan?

Nordea loans - SMALL

You can apply for our unsecured FlexiCredit from 2,000 euros up to 50,000 euros.

Read more about FlexiCredit

You can apply for a secured loan with us if you:

  • do most of your banking with Nordea
  • have a regular income
  • have an asset to use as collateral
  • have a Finnish personal identity number and a home address in Finland
  • have a clean credit record.

Apply for a consumer credit

How to apply for a secured consumer loan

  1. 1. Arrange collateral

    If you use your home as collateral, for example, you need to provide a recent property manager’s certificate and the value of your home.

  2. 2. Apply in Nordea Mobile or Netbank

    Fill in and submit your application.

    Apply for a loan

  3. application form

    3. We will contact you

    We will go through the details of your loan together.

  4. 4. Accept the loan offer

    You will get a written loan offer from us, which you can accept online.

What does collateral mean?

The collateral provided for the loan means the assets the borrower pledges to the bank in case they are not able to repay the loan as agreed. A property you own usually serves as collateral for your secured loan. For example, a car cannot be used as collateral for a secured bank loan.

What documents does the bank need from you?

When we process your loan application, we will ask you for the documents we need. They include:

  • a property manager’s certificate and the estimated price of your home if you use an apartment as collateral
  • an estimate of the costs or a quote from your contractor, if you are applying for a loan for a larger renovation.

What you can use a secured loan for

Nordea’s secured consumer credit is suitable for a variety of purposes.

Buying a car

If you have your eyes on a used car that costs more than 15,000 euros, you can take out a secured loan to buy it.

Read more about our car loan

Did you know?

Improving energy efficiency pays off

You can get a loan from us for energy-efficient renovations with a lower margin than for regular renovations.

Explore energy-efficient renovations

Frequently asked questions about secured loans

Prices after 1.9.2019
Prices for loans issued before 1.9.2019
Terms and conditions
Consumer credit information

Most common prices for secured consumer credits

Prices for loans issued after 1 September 2019
ITEMISATIONPRICE
Advance notice of loan debiting by letter or through Netbank0,00 €
Monthly agreement fee
6,00 €
Payment reminder to borrower, guarantor or third-party pledger (per reminder)5,00 €
Transfer of a loan to another bank upon customer's request. Charged to the receiving bank. Does not apply to loans intermediated from government funds.150,00 €
Certificates requested by the customer stating the amount of debt and paid interest (incl. postage)10,00 €

Most common prices for secured consumer credits which are issued before 1.9.2019.

Prices for loans issued before 1.9.2019
ITEMISATIONPrice

Arrangement fee

Arrangement fee is charged in connection with the first drawdown and with a raise or renewal of a loan.

0,4 % minimum 300 €
Arrangement fee on the loan guaranteed by Takuusäätiö (Guarantee Foundation) 
2,00 %
Increased arrangement fee when a loan is secured by third-party pledge or a guarantee.100,00 €
Partial drawdown30,00 €
Automatic debiting of a loan payment / per withdraw2,30 €
Adding FlexiPayment to a consumer credit in Netbank or mobile bank. (Adding FlexiPayment to an existing credit always requires automatic debiting of loan payments, which is subject to a fee in accordance with the bank's tariff)0,00 €
Adding FlexiPayment to an existing consumer credit by an employee at a branch or by phone/with a message through Nordea Customer Service. (Adding FlexiPayment to an existing credit always requires automatic debiting of loan payments, which is subject to a fee in accordance with the bank's tariff)250,00 €
Advance notice of loan debiting by letter or through Netbank0,00 €
Loan payment, paper invoice4,10 €
Payment reminder to borrower, guarantor or third-party pledger (per reminder)5,00 €
Change to repayment schedule in Netbank or mobile bank if loan is secured by a home150,00 €
Change to repayment schedule by an employee at a branch or by phone/with a message through Nordea Customer Service if loan is secured by a home250,00 €
Change to due date or loan-servicing account in Netbank or mobile bank if loan is secured by a home. (Minor change to repayment schedule)0,00 €
Change to due date or loan-servicing account at a branch or by phone/with a message through Nordea Customer Service if loan is secured by a home. (Minor change to repayment schedule)50,00 €
Change of debtor or one of the debtors assumes liability for the loan alone. Does not apply to loans intermediated from government funds.200,00 €
Changing the 12-month Euribor reference rate at the end of the interest rate period and changing the Prime rate in Nordea Mobile and Netbank200,00 €
Change of reference rate at the end of the interest rate period by an employee at a branch or by phone/with a message through Nordea Customer Service300,00 €
Change of reference rate in the middle of the interest rate period by an employee at a branch or by phone/with a message through Nordea Customer Service600,00 €
Change to margin by an employee at a branch or by phone /with a message through Nordea Customer Service250,00 €
Obtaining a guarantor's or pledge owner's consent to amend the loan terms, such as the repayment schedule or reference rate35,00 €
Transfer of a loan to another bank upon customer's request. Charged to the receiving bank. Does not apply to loans intermediated from government funds.150,00 €
When a credit document is sent to another bank for getting a guarantee or a signature, the debtor is charged, per sending. (incl. moms 25,5 %). Does not apply to loans intermediated from government funds.30,36 €
Certificates requested by the customer stating the amount of debt and paid interest (incl. postage)10,00 €

Standard European Consumer Credit Information

To make comparing easier, the applicant has the right to receive the key information on the credit on a Standard European Consumer Credit Information form before signing the credit agreement. The information on the form may be calculated with the details given by the customer or on typical values. The form on this page is calculated with typical values, which means that a typical euro amount for this credit type is applied.

The form specifies the lender's contact information, the main features of the credit product, the costs, other important legal aspects and, if needed, the additional information required for distance selling. The information on the form may be binding or unbinding on the lender. A binding form requires a positive credit decision.

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