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Opening fee 0 euros

A new student loan with no arrangement fee

20 euro gift

For fund savers in connection with a new student loan

Gold package

Nordea Gold with cashback

Student loan – focus on your studies full-time

The purpose of a student loan is to help you pay for your expenses during your studies, including tuition fees, study materials and daily expenses. 

When you apply for student financial aid from Kela, you will also receive a decision on the state guarantee for a student loan.

You don’t need to pay interest on your loan while you study, but the interest is added to your outstanding loan principal automatically. Interest payments only begin once you are  no longer receiving student financial aid. You will start repaying your loan 1.5 to 2 years after your student financial aid runs out.

Find out how to get a student loan for the summer

How big a student loan can I get?

The amount of your loan guarantee determines how much you can borrow, and it depends on how old you are and where you study. For example, if you are under 18 and study at an institution other than a university or university of applied sciences you may borrow 400 euros per month. University students aged 18 or over may borrow 850 euros per month and students studying abroad 1,000 euros per month.

When you enter student life

As a student, you enjoy a wide range of valuable perks with us.

  • Opening fee for a new student loan, 0 euros.
  • 20 euros gifted towards your fund investments when you take out a new student loan and start saving in a fund.
  • Nordea Gold or Nordea Credit card for university students without a regular income. 
  • 15% discount on Nordea MyLife personal insurance policies for customers who have a student loan.

See all your benefits

Am I eligible for a student loan?

If you receive student financial aid from Kela, you are eligible for a student loan. When Kela grants you student financial aid, you also get a state guarantee. When you have the state guarantee, you can apply for a student loan through your bank. 

A student loan is intended to cover your study period, and you don’t need to repay your loan until after graduation.

1. Apply for student financial aid as soon as you get accepted onto a study programme

Mobile phone icon - 640x360Apply for student financial aid from Kela through the digital OmaKela service. With an approved student financial aid decision, you will also get a state guarantee covering the student loan.

Read more about applying for a student loan

2. Apply for a student loan digitally and select the drawdown method

Computer with mobile phone icon - 640x360

You can submit a loan application in Nordea Mobile or Netbank. On the application, select whether you want to draw down your student loan for the next academic year in instalments or in one go.

Read more about drawdowns

3. Apply to top up your student loan every academic year

Notepad icon - 640x360A student loan is always granted for one academic year at a time, so at the beginning of each new academic year, you will need to apply for a top-up to your existing student loan using the student loan application. 

Read more about student loan top-up

4. Repay the student loan according to your repayment schedule

Lines with dots settings slider - 640x360We will begin charging interest on your student loan about one year after your student financial aid runs out, and you will start repaying your loan 1.5 to 2 years after your student financial aid runs out.

Read more about the repayment of student loans

Did you know about student loan compensation?

Read more and see if you’re eligible

Compare example calculations

What is a suitable student loan amount?

Information on student loans

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Terms and conditions
Prices
Indicative annual percentage rate
Your right to cancel a loan
Consumer Credit Information
Important information about investing

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Student loan – prices

Common fees on student loans
ItemisationPrice
Loan – granting, drawdowns and fees:
Arrangement fee (initial) in Nordea Mobile and Netbank 0.00 euros
Arrangement fee (top-up) in Nordea Mobile and Netbank10,00 €
Arrangement fee in Nordea Customer Service20,00 €
Student loan drawdowns in instalments determined in the guarantee decisions with an automatic drawdown agreement0,00 €
Partial drawdowns in separate instalments after requests made in Nordea Mobile and Netbank 10,00 €
Partial drawdowns in Nordea Customer Service 20,00 €
Automatic debiting of repayments in loans drawn down before 1 February 20212,30 € per debit
Automatic debiting of repayments in loans drawn down after 1 February 20212,50 € per debit
Paper invoice to home address4,10 €
Extra repayment0.00 euros
Advance notice of loan debiting on paper or through Nordea Mobile and Netbank0,00 € per debit
Loan changes:
Change of repayment schedule (change of reference rate or repayment method, increase of monthly payment or change from automatic debiting to paper invoices)40,00 €
Reduction of monthly paymentEUR 5.00
Payment holidayEUR 5.00
Change of due date0.00 euros
Change of loan servicing account0,00 €
Change to the initial repayment schedule proposal within 6 months of reception      0.00 euros
Transfer of loan to another bank upon the customer’s request. Charged to the receiving bank.150,00 €

The arrangement fee and partial drawdown fee (if any) are deducted from the drawn loan amount.  

Your right to cancel a loan

You can cancel a loan by notifying us within 14 days of the date on which you received the loan agreement.

 

You can find the cancellation function in Nordea Mobile and Netbank under “Manage loan” in the loan details. Include the number of the loan you wish to cancel in the request, and if you have drawn down any of the loan, state the repayment date and the debiting account.

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.

You will find detailed information on the credit on the Standard European Consumer Credit Information form.

Important information about investing

This is an advertisement. The information provided on this website is intended as general product information only and does not constitute investment advice or recommendations. The return on your investment may fluctuate, and you may lose some or all of your capital. Past performance is not a guarantee of future results. Nordea funds are managed by Nordea Investment Funds S.A. and Nordea Funds Ltd, which are part of the Nordea Group. We recommend that you read the fund’s Key Investor Information Document before making any investment decisions. 

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