With a loan amount of €10 000, interest rate of 7%, repayment period of 5 years and an opening fee of €0, the monthly instalment is €198.01, the amount to be repaid is €11,880.6 and the annual percentage rate of charge is 7.23%.
Example of loan costs for a €500 loan with a 1-year repayment period: nominal interest rate 10.40%, annual percentage rate 10.91%, account management fees 0€. Start-up and monthly charges 0€, Interest charges 29€, Total charges 529€. The loan period offered can be between 1 and 15 years and the interest rate between 4.5% and 20%.
The real annual interest rate is 6.26% calculated for a typical loan amount of €10,000, with a repayment period of 5 years, an account management fee of €5, an opening fee of €0 and an example interest rate of 5.0%. The repayable amount is then €11 623, or €193.71/month. The final annual percentage rate of charge, the repayment period and the monthly instalment of the loan are set out in the loan agreement.
Nominal interest rate of 6.99% and annual percentage rate of 7.9% for a loan amount of €15 000, loan duration of 10 years (incl. opening fee of €0 and account management fee of €5/month). Loan period 1-18 years. The nominal interest rate offered can vary between 4.68% and 20% and the annual other charges between €0 and €150. The exact details will be provided in the loan offer.
The annual percentage rate of charge for a €25 000 loan with a 10-year repayment period is 7.54%, if interest and charges include: annual interest rate of 6.90%, monthly account management fee of €5 and loan opening fee of €0. The monthly instalment for a loan of €25 000 in the example is then €293.98 with a total of 120 instalments. The total amount of the loan, interest and charges in the above example is € 35 278, of which the charges amount to € 600 and the interest to € 9 678.
Ferratum Flexible Credit is a EUR 4000 revolving credit line, which is available to the customer on an ongoing basis up to the agreed credit limit. The first withdrawal is paid into the customer's account between 7:00 and 23:00. Pricing: account management fee of EUR 12,00/month, nominal annual interest rate of 19,97 % and annual percentage rate of 29,79 %. The total estimated cost of the credit is EUR 4576,59, assuming that the customer withdraws EUR 4000 at once and repays it in 12 instalments.
The interest rates on loans are individual. You will find out your own interest rate in the loan offer. The loan offer is not binding. Loan duration 1-15 years, loan amount up to € 60 000, annual loan costs 0-150 €, interest rate 4-20%. Example: €10 000, 10 years, 120 instalments, annual percentage rate of charge 7.21%, nominal interest rate 6%, cost €3 923, total €13 923.
The loan period can be from 1 to 15 years, the loan amount from €1 000 to €70 000 and the nominal interest rate from 4 to 20%. Example. Please note that the loan can also be repaid more quickly.
The real annual interest rate is 6.26% calculated for a typical loan amount of €10,000, with a repayment period of 5 years, an account management fee of €5, an opening fee of €0 and an example interest rate of 5.0%. The repayable amount is then €11 623, or €193.71/month. The final annual percentage rate of charge, the repayment period and the monthly instalment of the loan are set out in the loan agreement.
For a loan of €15 000, with a 6-year term, the monthly instalment is €270 / 72 months. The total cost of the credit is €19 468, with a nominal interest rate of 9% and an annual percentage rate of 9.38% (including a €0 invoicing surcharge and an opening fee of €0). Loan amounts range from €1 000 to €70 000, with a nominal interest rate of 4.41-20% (annual percentage rate of 4.5-38%) and a loan period of 1-15 years. All applications are processed automatically by the lenders to ensure fast and responsible credit decisions.
Creditstar is an unsecured revolving credit line up to €3000, with a nominal interest rate of 14.99%, an opening fee of €0, and an account management fee of 0.01% per day of the credit limit. Example of credit repayment: the annual percentage rate of charge for a €2000 credit is 23.86%. The calculation takes into account a nominal interest rate of 14.99%, a loan service charge of €6 per month. Total loan and loan costs € 2238.12 for 12 instalments.
The annual percentage rate of charge (APR) for a €1,500 loan is 28.5%. The interest rate taken into account in the calculation is 19%, with a loan servicing cost of €4.56 per month. Total loan and loan cost € 1 713,48 with 12 instalments and a monthly instalment of € 142,79.
Borrowing costs money!
If you cannot repay your debt in time, you are at risk of receiving a payment remark (maksuhäiriömerkintä). For free financial and debt counselling, please contact Talous- ja velkaneuvonta. Details at oikeuspalveluvirasto.fi.
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Personal loans in Finland offer a flexible financial solution for individuals seeking to cover various personal expenses, from consolidating debt to funding a major purchase or project. These unsecured loans are provided based on creditworthiness, without the need for collateral, making them accessible to a wide range of borrowers.
Interest rates and terms for personal loans in Finland can vary significantly based on the lender and the borrower’s credit profile.
What is a personal loan?
A personal loan in Finland is an unsecured loan, meaning it doesn’t require collateral, such as property or other assets, for approval. Instead, lenders issue these loans based on the borrower’s creditworthiness, which includes factors like income level, credit history, and debt-to-income ratio. Personal loans offer a lump sum of money upfront, which borrowers are required to pay back in fixed monthly installments over a predetermined period.
These loans are versatile, allowing individuals to use the funds for a variety of purposes, including home renovations, consolidating debt, financing a significant purchase, or covering unexpected expenses. The interest rates for personal loans can vary, influenced by the borrower’s credit score and other financial details. By providing a clear repayment plan and fixed interest rates, personal loans in Finland offer a predictable and straightforward way for individuals to manage their financial needs.
Example of a Personal Loan
To illustrate how a personal loan works in Finland, let’s consider a common scenario where an individual borrows €10,000 with an annual interest rate of 11.76% over a period of 5 years. The example below breaks down the total cost of the loan, including interest and fees, providing a clear picture of the borrower’s obligations.
Description
Details
Loan Amount
€10,000
Loan Period
5 years
Effective Annual Interest Rate
11.76%
Cost of Interest and Fees
€3,050
Total Repayment Amount
€13,050
This example demonstrates the importance of understanding the total cost associated with a personal loan, which includes not only the principal amount but also the interest and any applicable fees over the life of the loan.
How to Apply For a Personal Loan in Finland
Applying for a personal loan in Finland is a straightforward process that involves a series of steps to ensure you meet the lender’s requirements and get the best possible terms. Initially, you need to assess your financial needs and understand how much you want to borrow and what you can afford to pay back. Researching various lenders and comparing their offers is crucial to find a loan that suits your financial situation.
Step-by-Step Guide to Applying for a Personal Loan:
Assess Your Financial Situation: Determine why you need the loan and how much you need.
Check Your Credit Score: Your credit score will significantly influence the loan terms, so know your score beforehand.
Compare Lenders: Look at different lenders to find the best interest rates and loan terms.
Gather Necessary Documentation: Prepare all required documents, such as proof of income, identification, and any other financial records.
Submit Your Application: Complete the loan application form and submit it along with your documents.
Wait for Approval: The lender will review your application and make a decision.
Review the Loan Offer: If approved, review the loan terms before accepting.
Receive the Funds: Once you accept the loan terms, the funds will be disbursed to your account.
Tips for a Successful Application
Before you apply, consider these tips to enhance your chances of approval and secure favorable loan terms.
Review Your Credit Report: Ensure there are no errors that could impact your credit score negatively.
Reduce Existing Debt: Lowering your debt-to-income ratio can make you more attractive to lenders.
Provide Accurate Information: Ensure all the information in your application is correct to avoid delays or rejections.
Understand the Terms: Fully comprehend the loan terms, including interest rates, fees, and repayment schedule, to avoid surprises.
Consider a Co-signer: If your credit history is less than ideal, a co-signer can improve your chances of approval.
Required Documentation for Personal Loans
When applying for a personal loan in Finland, lenders will request specific documentation to assess your creditworthiness and financial stability. The required documents help the lender understand your financial background, ensuring you have the means to repay the loan.
Proof of Identity: Valid identification, such as a passport or national ID card, is essential to verify your identity.
Proof of Income: Lenders typically require recent payslips, tax returns, or bank statements to assess your income and employment stability.
Proof of Residence: A utility bill, lease agreement, or similar document may be needed to verify your current address.
Credit Information: While lenders will check your credit score, having your credit report can be useful for your own reference and to correct any discrepancies.
Debt Information: Details on existing debts, including credit cards, mortgages, and other loans, help lenders assess your debt-to-income ratio.
Bank Statements: Recent bank statements provide a snapshot of your financial health, showing your income, expenses, and saving habits.
Gathering these documents beforehand can streamline the application process, making it easier and faster to secure your personal loan.
FAQ
Frequently Asked Questions
A personal loan is an amount of money borrowed from a lender that you pay back in fixed monthly payments over a set period. It’s typically unsecured, meaning it doesn’t require collateral like a home or car.
You can use a personal loan for almost any purpose, including consolidating debt, financing a large purchase, covering unexpected expenses, or funding a home improvement project.
The amount you can borrow with a personal loan in Finland varies but typically ranges from €1,000 to €50,000, depending on the lender and your creditworthiness.
Yes, Finland uses a credit scoring system. Lenders assess your credit score to determine your creditworthiness, which influences your loan terms, including interest rates and the amount you can borrow.
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Updated 1. May 2026
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