Consumer loan
A consumer loan is an unsecured loan. The loan can be used for whatever you want, and has a lower effective interest rate than credit cards and small loans.
What is a consumer loan?
A consumer loan is an unsecured loan. This means that you don’t need to provide security in your own assets to borrow money. Consumer loans have lower interest rate than credit cards and small loans, and it can therefore be worth to combine unsecured loans into one consumer loan.
Benefits of consumer loans
A consumer loan is an unsecured loan. You therefore do not need to provide security in your own assets. A consumer loan can be used for whatever you want, and have a lower interest rate than credit cards and small loans.
- You don’t have to motage your home or other assets
- Great freedom – use your loan for whatever you want
- Fast and flexible repayments – you can always choose to pay down and clear the loan faster than planned
- You can use the loan as a flexible framework loan if you need it
- Collect other small loans for one consumer loan, and simply follow the online bank loan
Refinance consumer loans
Do you have credit card debt or several small loans? Then it can be worth to collect and refinance debts into one consumer loan.
Questions and answers about consumer loans
When does a consumer loan make sense?
Consumer loans are suitable for those with short-term economic needs, for example to cover unforeseen expenses or to collect credit card debt and small loans.
Renovation
The purchase of furniture and interiors should not be traded by borrowed money, but taking a loan to renovate and increase the value of a home can be a possibility. Check first whether you can refinance existing home loans.
Vehicle, boat and motorcycle
Sending boats, motorcycles or cars to the auto repair shop is often a sudden expense. First, check whether the bill is covered by your insurance. If you need to cover the repair yourself, a consumer loan can help.
Read more at DNB News
Price example consumer loan
Nominal interest rate from 10.9%, effective interest rate 11.7%, NOK 100,000 over 5 years, establishment fee from NOK 500. Cost NOK 30,806. A total of NOK 130,806.
See also
Credit cards
Flexibility and benefits when used properly.
Refinance consumer loans
Reinvest in consumer loans and other expensive debt.
Consumer loans for SAGA customers
Extra favourable conditions for SAGA customers.
Payment insurance
Secures the payment of loans and credit.
Home mortgages
Loans adapted to your finances.
Car loans
Get up to 100% financing of the car.