Unsecured loan online instantly to your account

Unsecured loan goes by many names

Unsecured loans and credits include a wide range of loan products.

Unsecured credit can be, for example, a flexible credit for continuous use (cf. credit card) or a one-off loan, such as unsecured short-term loan, consumer credit, car loan, boat loan, home improvement loan, holiday loan and consolidation loan.

Unsecured loans can therefore be obtained for almost any purpose, as there is usually no need to make a separate declaration to the lender at the application stage about what the money will be used for.

Here is an outline of the most common features of unsecured loans and credits:

• No collateral or lender required

• Can be used freely for the desired purpose

• Fast application process - money in your account even within the same day

• Loan amount EUR 100-70 000

• Loan duration from a few weeks up to 20 years

• Nominal interest rate 4-20%

• Fully electronic application process

Who can apply for an unsecured loan?

Although an unsecured loan is a much less complicated loan product than a secured loan, applicants must still meet some important conditions that lenders have set for their loans. The most common conditions are:

• Age of majority (although many lenders may have an age limit of 19-25 years)

• A clean credit record

• Regular monthly income (salary, business income, study allowance, pension...)

• Permanent address in Finland

• Personal bank identifiers

• Finnish phone number

Financial institutions have different loan conditions

Each lender sets its own terms and conditions for its loan products. Before applying for a loan, it is therefore important to check that all conditions are met, as your loan application will most likely be rejected if all conditions are not met.

In particular, an entry in the credit file almost invariably prevents you from obtaining an unsecured loan.

This is because lenders have to assess the applicant's ability to pay remotely on the basis of the information provided in the loan application, and a clean credit record is a good indication that the applicant has previously managed their finances properly, so the lender can assume that repayment of the loan will not be a problem.

Always fill in your application carefully

Incomplete or outdated information can also slow down the processing time of your loan application, so it is always a good idea to fill in your loan application as carefully as possible. When filling in the loan application, it is a good idea to have all the necessary documents, such as pay slips, with you.

For smaller loan amounts, the lender may not ask for pay slips or other proof of potential income at all.

For a combined loan, you need information on all loans

Also aggregation loan is an unsecured loan. When applying for a bridging loan, the loan application must include details of all the loans you wish to repay with the new loan.

If you are applying for a loan together with a coapplicant, the coapplicant must also fill in their own details on the loan application. In this case, both applicants must meet all the conditions set by the lender.

However, it may be worthwhile to apply for larger loans with a coapplicant, as the lender will take into account the ability of both applicants to pay.

Unsecured loan instantly to your account

One of the undoubted advantages of an unsecured loan is the speed of processing - at best, an unsecured loan can be paid within 24 hours.

However, processing times are affected by a number of factors, such as whether the loan application has been filled in correctly, whether the applicant meets all the conditions for obtaining a loan and the time at which the loan application was sent.

A carefully completed application will speed up the process

As an applicant, you can influence how quickly your loan application is processed. You should submit your loan application as early as possible, for example in the morning or at lunchtime, so that you may receive a positive loan decision on the same day.

Once you have filled in the loan application carefully and meet all the conditions, a loan decision can even be made immediately after the loan application has been sent.

A smaller unsecured quick loan may not require any attachments at all, so the loan can be paid into your account very quickly.

Unsecured consumer credit is usually suitable for sudden cash needs

An unsecured loan can therefore meet a very sudden or unexpected need for money when your bank account is crying out for it.

However, it is important to remember that you should not apply for unsecured credit simply because it is easy to apply for a loan if there is no certainty of repayment. Unsecured loans and credit are therefore mainly aimed at consumers who have a regular monthly income and whose finances are in order.

An unsecured loan should not, for example, be used to cover previous debts or to pay for a lifestyle where your finances are out of balance.

Do not apply for a loan if you are not sure of repayment

Unpaid loan repayments can lead to a debt spiral through foreclosure, which can affect your well-being and financial situation for years to come.

If you are already in debt or have other money worries, taking out a loan usually won't help.

In this case, the best thing to do is to contact your local debt counsellor or the National Guarantee Foundation, which offers free advice on all kinds of financial matters.

An unsecured loan from a bank or elsewhere?

As mentioned earlier, with the growing demand for unsecured loans and credit, many different banks and financial institutions are offering unsecured loans for a wide range of purposes.

In addition to digital banks and private financial institutions, traditional banks also offer unsecured loans and consumer credits for buying a car, booking a holiday or renovating a summer cottage, for example.

Although secured bank loans generally have lower interest rates than unsecured loans, this does not mean that traditional banks automatically offer cheaper unsecured loans. Indeed, many consumers make the mistake of taking an unsecured loan directly from their own bank without competing for loans, assuming that their own bank must offer better terms than others.

In reality, a cheaper unsecured loan may suddenly be found somewhere other than your own bank. Today, there is fierce competition between banks and financial institutions for unsecured loans, which has led to even better conditions. In addition, the new interest cap laws have limited the interest costs of unsecured loans, so that the notorious fast loans, which can cost thousands of percent, have disappeared from the market altogether.

However, it can take a lot of time to look at the loan products of dozens of different banks and financial institutions and compare interest costs one by one. In practice, this would require you to fill in a separate loan application on each lender's own website, even though almost all loan applications ask exactly the same questions. For example, to get ten different loan offers you would have to fill in ten separate loan applications and few people have the time or patience for such a task.

Comparing unsecured loan offers is worthwhile in the sense that, due to high demand and increased competition, the interest rate on the same loan product can vary significantly between lenders. Each lender processes loan applications according to its own terms and conditions, which means that you may receive loan offers with different interest costs, even if the information you provide in your loan application is exactly the same.

It's easy to apply for a loan online

So what is the advantage of tendering for loans based on? Competing for unsecured loans is nowadays very easy and, above all, completely free.

When you fill in a loan application online, you can get several credit decisions from different banks and financial institutions in one application.

Competing saves you a lot of time and effort, as you only have to fill in one application instead of several.

Compare interest rates and costs on loans quickly and easily

When you compare loan offers on the basis of your own credit application, you can see all the costs related to the loan in one go.

This is a much more reliable and realistic way to find out your personal interest rate for unsecured loans, as the example rates advertised on the websites of different banks and financial institutions do not tell the whole truth about the interest rate you could get a loan at based on your own information - the rate may be lower or higher than the example rate, depending on how good the lender thinks you are at paying your loan.

When you apply for a loan online, you can get several loan offers in one application

Thus, when you compete for unsecured loans on the basis of your own loan application, you can even receive several personalised loan offers immediately.

Loans are tendered on the basis of a comparison of the actual annual cost of the loan offers, which takes into account not only the nominal interest rate but also other loan costs such as the loan origination fee, account management fees, billing surcharges and other service charges.

You can easily choose the most suitable loan offer

In many cases, it is the other costs of the loan that can be the deciding factor in finding the cheapest unsecured loan.

For example, several lenders may offer you a loan with an almost identical nominal interest rate, but when comparing the actual annual costs, it turns out that one offer turns out to be cheaper than the others.

For this reason, it is always worth competing for unsecured loans.

Find the cheapest unsecured loan with one loan application

As the competitive process for unsecured loans is free and does not oblige you to take out a loan, you as a consumer have nothing to lose by deciding to try competitive lending.

Competing for loans is quick and easy, so don't skip the competition even if you have a large borrowing need and need an unsecured loan. immediately to your account.

This is how loans are tendered on our website:

1. Choose the loan amount and term
2. Go to filling in the loan application
3. Check your details and submit your loan application
4. Our loan comparison service ranks loan offers in a clear order from cheapest to most expensive - just choose the loan that's right for you.
5. Accept the loan offer online and sign the loan agreement - you can get an unsecured loan on your account immediately.

Compare loans at your leisure and choose a loan offer only when you need it

You can compare loan offers and familiarise yourself with the loan terms at your leisure. If none of the loan offers meet your expectations, you do not need to continue your search.

There are no extra charges for abandoned applications and you can always return to the loan application later if you wish.

Unsecured loans should therefore be tendered at a very low threshold, as sending in a loan application does not commit you to taking out a loan.

The competitive bidding process allows you to find out realistically what interest rate you can get on an unsecured loan. You can compete for loans both with a parallel applicant and in the case of a bundled loan.