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Apply for a student loan online

Apply for a state-guaranteed student loan to fund your student life or to build a buffer for your future or any major purchases. It's easy to apply for a student loan from Nordea and you get all the benefits for student customers.

Student loan from Nordea

  • You apply for the student loan separately for each year. It’s easy to do in Nordea Mobile – your key to all smooth banking.
  • Once it’s time to start repaying your student loan, we offer you the opportunity to repay the loan over 15 years. You have the option of making changes to your repayment schedule if you want to repay your student loan faster or if you need more time.
  • As our student loan customer, you will benefit from our student benefits. Student customers get our mobile banking services, a bank account and a payment card free of charge.

Read more about our student benefits.

In focus

Have you noticed these?

  • The instalments for the academic year 2022–2023 must be drawn down 31.7.2023 at the latest.
  • Ask questions on Jodel at Nordea_Aspa! Our advisors answer during weekdays.
  • If Home Insurance -25% for Nordea's customers.
Apply for student loan

How to apply for student loan

When you are Nordea's customer

  1. Apply for a state guarantee for your student loan from Kela. Read the instructions from Kela's pagesOpens new window.
  2. Apply for a student loanOpens new window in Nordea net- or mobilebank.
  3. Sign with your Nordea ID app.

When you are not yet Nordea's customer

  1. Apply for a state guarantee for your student loan from Kela. Read the instructions from Kela's pagesOpens new window.
  2. Become Nordea's customer and activate your Nordea ID app.
  3. Apply for a student loanOpens new window in Nordea net- or mobilebank.
  4. Sign with your Nordea ID app.

State guarantee for a student loan

  • A state guarantee is a security instrument granted for a loan by the state. If you are granted a state guarantee, you won’t need any other collateral for the loan. The state guarantee is valid for 30 years at the most from the first drawdown of the loan.
  • You will receive a state guarantee decision for your student loan automatically from Kela in the case of a study grant or from the Employment Fund in the case of an adult education allowance. Fill in Kela's application with care and attach all necessary documents. When Kela has approved your application the bank will be notified.
  • Even if you’re not entitled to a study grant, you can still obtain a loan guarantee in certain special cases. See if you are eligible for a student loan on Kela’s websiteOpens new window.

Information about applying for a student loan

  • Remember that you have to reapply for a student loan each academic year. If you already have a student loan and want to renew it for a new academic year, you should apply for a raise to your old loan. Submit your application by filling in Nordea’s student loan application.
  • We normally process student loan applications in 1–3 working days. However, during the peak periods (January, August and September), it may take us longer than three days to process your application. You need to sign the loan agreement with your Nordea ID app when you submit the application. Once the loan is granted to you, the loan agreement and terms and conditions will be available in Netbank. 
  • If you are a minor, you need your guardians’ (both guardians if you have two) consent for applying for a student loan. Your guardians can give their consent digitally through Omaposti, over the phone with their access codes or in branch with a power of attorney. After this, you can apply for and draw down a student loan through Nordea Customer Service if you have Nordea’s access codes. Alternatively, you can visit one of our branches.
Draw student loan
Repay your student loan

How does the student loan amount affect the total cost?

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Take a look at our indicative example calculations to compare student loan amounts and the amount of interest that accumulates on them.

Student loan and studying abroad

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If you are completing your degree abroad, you can draw down your student loan for the entire academic year in one go. Students living abroad can apply for a student loan raise to cover their expenses.

Budgeting student loan and tracking your finances

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In Nordea Mobile's Insights -tab your income and expenses are already categorized. You can change the settings and categories so that the tracking serves you and your needs.

Information on student loans

Terms and conditions
Indicative Annual Percentage Rate
Consumer Credit Information

Student loan - Prices

Most common fees on student loans
Arrangement fee in Netbank
10,00 €
Arrangement fee at a branch
20,00 €
Concluding a student loan drawdown agreement 
0,00 €
Cancellation of a student loan drawdown agreement due to interruption or ending of studies 
0,00 € 
Cancellation of a student loan drawdown agreement for other than the above-mentioned reasons 
0,00 €
Partial drawdown in Netbank *) 
10,00 €
Partial drawdown by customer service *)  
20,00 €
Automatic debiting of loan repayments, price before 1.2.2021
2,30 € / charge
Automatic debiting of loan repayments, price from 1.2.20212,50 € / charge
Loan payment, paper invoice4,10 € / charge
Raising fee 
10,00 €
Advance notice of loan debiting on paper or through Netbank  
0,00 €
Payment reminder to borrower 
5,00 €
Permanent change of due date0,00 €
Change in loan terms (e.g. change of repayment schedule, increase of installment, reference rate, billing method)
40,00 €
Decrease of installment payment5,00 €
Deferred amortisation5,00 €
Extra repayment0,00 €
Change of the loan servicing account0,00 €
Move loan to another bank by customer's request. The fee is paid by the other bank.
150,00 €

*) After the first drawdown, a partial drawdown fee is charged for each drawdown. The partial drawdown fee is not charged if the borrower and the bank have made a drawdown agreement in connection with the first partial drawdown at the latest.

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 (pdf, 288 KB)Opens new window.

Apply for a student loan

As a Nordea customer, you can apply for a student loan online.

Apply for a student loan Opens new window