The Best Online Loans in Finland

Compare the best options on the market and choose the one which best adapts to your day to day needs.

Further Below: Our Guide To Online Loans in Finland,  Everything You Need to Know.

1. Nordic bank

  • Offer loans of up to 70,000 euros
  • Flexible interest rates
  • Unsecured loan
  • Fast payout
  • Laxer application procedures
  • Excellent repayment period of up to 15 years
  • Loans available for any purpose
  • Offers free application 

2. OP (osuuspankki)- cooperative bank

  • Flexible loan limit of up to 15,000 euros
  • Annual interest of 7.9% plus a Euribor of 3 months 
  • Offers a grace month once a year 
  • Lenient application procedures
  • Loan purpose is diverse
  • Fast approval 
  • Limited to OP customers
  • Customized repayment terms

3. Saldo loan

  • Offer loans of up to 50,000 euros
  • Friendly interest rates of 13.99% p.a
  • Fast approval within 5 minutes
  • Hassle-free online application  
  • Long  repayment terms of up to 88 months
  • Simpler eligibility criteria
  • Applicants with stable income are preferred
  • Available for various purposes

Online Loans in Finland, All You Need To Know:

Hang through our website to discover how you can get money in 15 minutes using this type of credit. We guide you on how these online loans work, the best current offers available, and what is required to be put into consideration to select the most appropriate option that best fits your economic needs.

Quick Summary

  • Mini-credits offer loans of up to 500 euros in the first application
  • Are majorly used for non-recurring economic emergencies
  • Due to their small limits, they are reimbursed in a one month 
  • Have fast application as the process is fully done online with no paperwork
  • It is therefore advisable to take the loans with surety of repayment within the agreed time frame.
  • They don’t require collaterals or guarantors ( unsecured loans)

What are mini online loans and how do they work?

Mini-online loans are a source of financial funding that penetrated financial markets in Finland in the late 1990s. They play a major role in providing funds to borrowers who do not have enough savings to settle unexpected financial expenses. Mini-credits are taken during untimely, urgent financial needs.

An outstanding nature of these loans is speed and less stringent eligibility procedures. Mini credits are applied within 15 minutes and funds are disbursed immediately. All applications, signatures, and submissions of the application documents are done online which minimizes paperwork.

Mini credits are flexible enough as we will be able to acquire loans of up to 500 euros for first-time applicants and up to 10,000 euros for clients with good credit history. The repayment period of the online credit varies from one borrower to the other. However, it does not exceed 30 days for all borrowers.

However, it is important to note that mini online loans are among the most expensive loans as they have high interest rates and reduced repayment periods. This calls for application only if the financial need cannot be postponed to a future date.

What we should know about mini-credits

  • New borrowers are offered loans to a limit of 500 euros
  • Majorly purposed for emergency financial needs
  • Repayment period is within one month
  • The loan purpose is more specific
  • Has a fast payout of 15 minutes
  • More costly compared to other loans

When is it advisable to apply for online loans?

In cases of financial problems, a mini online credit is an alternative to receive money quickly in a very comfortable and straightforward way. However, compared to other forms of consumer finance, it operates significantly differently. Knowing how it functions and when to apply for it is advantageous is crucial for this reason to avoid sinking into indebtedness.

YES, It is advisable to apply for mini-loans if/if not:

  • Its a one time financial need
  • It is an emergency and cannot be postponed
  • Its the only source of financing available at the moment
  • We know how the loan works
  • We do not solicit regularly
  • We can reimburse within the required time comfortably
  • We know the actual amount we’ll be required to pay
  • The need emerges regularly
  • The need is not urgent 
  • We would need the loan regularly
  • We solicit regularly
  • We don’t understand how the loan works
  • We’re not sure of the actual amount to repay back
  • We’re not sure of our ability to repay the loan

By considering these factors, we will be able to determine whether or not we should apply for the inexpensive online mini-loan and whether it is a solution that works for us, depending on our financial status and the need for it.

How much money can I get with mini-credits?

We will be able to get smaller sums of money with the help of the immediate mini loans to quickly take care of little emergencies. As a result, the size of these loans is significantly less than that of other financial products and additionally depends on our relationship with the organization.

New Clients:

Up to 500 euros

Older Clients:

Up to 10,000 euros

Access to higher loan amounts is limited due to lack of awareness of our previous credit history by the lending entity. This majorly occurs due to lack of security from the lending entity. Consumer creditworthiness increases the loan limit with time as the trust between the contracting parties builds up.

As we apply and repay the previous application, certain mini-loan institutions also have loyalty tiers where we can acquire more and more money at a lower interest rate.

Requirements to access the online loans

Although there will be a minimum number of requirements to meet to access this sort of financing, the terms of online mini-loans are less stringent when awarding small sums of money than those required by other businesses that grant huge amounts of money these requirements include:

  1. Be of legal age. In Finland, the law requires all loan applicants to have a minimum of 18 years though some entities prefer an average age of 21 years and above
  2. Finland resident. As a borrower, you should certify that you are a Finnish citizen or have acquired residence. This is accompanied by providing an identity card.
  3. Income evaluation. You should have a consistent monthly salary of 500 euros and above to earn eligibility.
  4. Credit history. You should possess a positive credit record from your past loan credit history to gain the trust of the current lending entity.

We must complete an online form so that the lenders are aware of our profile before they can determine if we meet these standards and are thus eligible for the mini-loan.

Documents to be submitted when requesting an online loan

Documents requested by lending institutions differ from one organization to the other. However, they are always simple to retrieve and are sent by either uploading on the application platform or by email by making scans or photos. Here are the documents required:

  • Prove of identity either ID or Passport
  • Bank or postal statement showing the account number
  • Payslips to show income received for the last months
  • Residence permit card
  • Tax compliance certificate or approval
  • Credit clearance certificate

Many businesses currently employ Instantor mini-credits to circumvent this step. To avoid mailing any papers and speed up the application procedure, our online identity verification tool will examine our bank information.

How to take out mini loans online step by step?

Steps to contract a mini loan:

  1. Choose the amount and term
  2. Fill in the form
  3. Send the documentation
  4. Read and sign the contract

It can take fewer than fifteen minutes for online small credit companies to complete payments to their customers. We may quickly obtain mini-credits without payroll with the help of your entire online application and automatic data analysis. Here are few steps followed:

  1. Choose your preferred loan amount and the payback schedule you want to use.
  2. Fill out the form. Be careful to complete all of the application’s blank fields with the most precise information possible, including name and last name, ID, date of birth, mobile number, and address, among other things.
  3. Verification. The lender will take some time after receiving the completed application to confirm that the information you gave matches our bank account and financial profile.
  4. Read and sign the contract. Before you put your signature down using a digital signature, take the time to study the contract’s fine print, comprehend how it operates, and establish a list of all the upcoming payments you’ll be required to make.

Once the entity has sealed up the contract by signing, the contract is formalized and the authorization of funds is made. Money is disbursed into your account within the agreed payout period.

Once the entity has the signed contract, the contract will be formalized and they will give the order to transfer the money requested to the account number we have detailed.

About this page, our methodology

What this page is for: Our focus is to assist you select a financial solution that best fits your economic needs. For you to choose the most appealing product at the time, we, marshal the best information that is currently available regarding consumer credits and what criteria to take into account as you compare the possibilities.

Source: the information regarding the main characteristics of loans in Finland and their current regulation comes from the Finnish Consumer Credit Act, Government portals, and financial institutions such as banks among other reliable sources. 

Methodology: The data relating to the conditions of these products (amount, term, interest, etc.) have been obtained through online research and consultation of the official statistics of the aforementioned reference sources.

About us: FUNDGECKO is a comparison website that assists customers who are unsure about personal loans or which service to choose. We assist our users in comparing the possibilities like pros by giving them all the knowledge they require about consumer credits and how to choose the option that best fits their needs.Note: the services we offer are totally free for the user, as FUNDGECKO obtains its income from advertising and its featured products.

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