What is a secured loan?
Nordea’s secured loans are consumer credit you can take out against collateral. A secured loan can be useful if you need to borrow money for improving your home or making 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 will be secured against an asset you own, such as your home, an investment property or a forest property.
- You can apply for a secured loan alone or together with another person.
- The maximum loan period is 20 years.
- Your loan will include Nordea’s unique FlexiPayment feature, which allows you to reduce or increase the amount of your next monthly instalment. You can do this in Nordea Mobile or Netbank free of charge.
- The costs of a secured loan comprise loan interest and a monthly loan servicing fee. Loan interest consists of a reference rate and a customer-specific margin. Alternatively, you can choose a fixed interest rate.