Loan 20000 immediately, without collateral

What is the real annual interest rate on a loan of €20,000?

The annual percentage rate of charge (APR) on a loan means all the annual charges included in the loan. The annual percentage rate of charge (the nominal interest rate) is the largest part of the cost of the loan and other charges are limited by law to €150 per year.

The annual percentage rate of charge is based on a personal credit assessment

Each lender will carry out a personal credit assessment on you when you apply for a loan. The assessment is based on the information you provide in your loan application, the credit reference register and common registers of lenders.

The actual annual interest rate depends on this estimate. Estimates can vary widely, so you may get a better deal from one lender than another. So you can get a loan of €20,000 at a very different interest rate depending on the bank or financial institution.

You can apply for a loan of €20,000 for a wide range of needs

You can get a loan of €20,000 for very different needs. However, this is such a large amount that a loan of EUR 20 000 is rarely requested to cover everyday expenses. Often a larger purchase or the combination of other loans into a single loan is what is in mind.

You can combine smaller loans and instalments into a single loan

For example, you can apply for a loan of €20 000 to pay off smaller loans and instalments, after which you will only pay one loan.

In many cases, such bundled loans will substantially reduce your monthly loan repayment costs. On the one hand, the term of the loan is extended, but you can also reduce the loan by more than the minimum repayment amount if necessary.

Your past loan history serves as collateral for lenders

With Lenders Loan Search, you can apply for a loan of €500-70,000 without collateral. You don't need real collateral, as the credit assessment that lenders do on you acts as a guarantee of your ability to pay.

So it's always a good idea to pay your monthly instalments on time and manage your finances well. By doing this, you will always get a loan on good terms.

You can apply for a loan with us alone or with a coapplicant

If you want to improve your chances of getting a loan, you can apply together with a friend, relative or spouse.

For example, you could apply for a loan of €20,000 to help you and your spouse decorate your first home together, or to buy a sailing boat with your brother.

What are the factors that affect a loan of €20 000?

Lenders' loan comparison service allows any adult with a regular income and good financial management to apply for a loan of €20 000. This is just an example. Of course, you should always apply for a loan according to your actual needs.

Those who manage their money well get loans on the best terms

When submitting the information you provide in your application, you will be asked for permission to check your data in the credit register of Suomen Asiakastieto Oy and the joint credit register of banks and financial institutions.

The credit assessment is based on your current situation. So even if you've had some financial problems in the past, it's worth applying for a loan.

As a rule of thumb, the better you have managed your finances, especially your previous loans and credit, the better the terms you will get for a new loan.

One-off loan

One-off loan is paid in one instalment to the customer's account. So, for example, if you apply for a loan of €20,000, you will receive the money in one lump sum. The loan period can be between 1 and 15 years. A typical one-off loan is requested for car financing, consumer credit, combining other loans, construction or renovation, for example.

What situations are suitable for a one-off loan?

A one-off loan is best suited to situations where you know pretty much exactly how much you need to borrow. It is worth considering the duration and amount of the loan carefully. Are you comfortable with a long repayment period and small monthly instalments? Or a shorter loan period with higher monthly repayments but lower overall costs?

It is also worth taking out enough loans at once, as it is difficult to stick to a building budget, for example. Taking out a new loan will be more expensive than building up a little extra money.

Flexible credit

Flexible credit is a bit like a credit card account. With a flexible loan, the loan period is not as fixed as with a one-off loan. You can apply for a loan of €20,000 as a flexi-credit and withdraw, for example, €2,000 from it to your account. You only pay interest and charges on the €2000 you withdraw.

When you pay back your Flexible Loan, the amount of the principal of your repayment is released for your use.

What situations are suitable for flexicredit

Flexible credit is best suited for situations where you do not have a clear idea of the amount you need. For example, you may be taking a longer holiday trip for which you want to take out a flexi-credit as a travel fund.

A loan of €20,000 is quite large for a flexi-credit, but you only pay on the amount you withdraw. The loan is released to you in the same way as if you were paying off a credit card debt.

Apply for a loan of EUR 20000 with Lenders' loan comparison service

Lenders is a reliable domestic loan comparison service. We only partner with reputable and reliable Finnish and European lenders.

We are very careful about who we choose to work with. Simply meeting the minimum requirements is not enough.

It's important to us that our customers get loans quickly and on fair terms.

Interest and charges on a €20000 loan - examples

In the table below you will find examples of the instalments and total costs of a €20,000 loan with different payment periods and interest rates. In our example we have used interest rates of 5%, 10%, and 20%.

Note! The figures in the table are examples and our partners do not necessarily offer loans similar to the example. The purpose of the table is to illustrate the impact of different repayment periods and interest rates on the instalments and total cost of a loan of €20,000. Always check the interest rates and costs of your loan with your loan provider before taking out a loan. In addition to interest charges, the loan may also include, for example, an opening fee or a monthly account management fee.