Consumer loan

A consumer loan is a convenient and fast option if you need to cover unexpected expenses or make larger purchases. You can also use it for travelling or paying tuition fees
  • A consumer loan is there for you if you need to manage unexpected larger expenses. The minimum loan is 640 euros and the maximum depends on your actual income and liabilities.

  • Your minimum monthly net income needs to be 500 euros.

  • The total loan and lease payments must not exceed 40% of your income.

  • If you want to apply for a loan, you don`t have to be a customer of Nordea Bank before.

  • You can apply for a loan with a co-applicant.

A loan until you turn 70
  • The maximum term for a consumer loan is 5 years
  • You will also have to pay the loan back before you turn 70
  • As a rule, the total loan and lease payments must not exceed 40% of your income.
  • You need to make payments each month in order to repay your loan.

How is the interest rate calculated?

  • The interest rate for a loan is made up of the base rate and an additional margin that is set individually for each customer.
  • The individual margin depends on the size of your income and liabilities.
  • The base rate for a loan is Nordea EUR Prime.

Annual percentage rate for the consumer loan
For example, when taking a consumer loan in the sum of 5000 euros without real estate security, a floating loan interest of 16.4% a year, loan period 60 months and agreement fee 75 euros, the preliminary percentage rate of charge is 17.10% and the total sum of payments to repay the credit and cover the total cost of credit is 7434.33 euros.

You can find additional information on annual percentage rates on the website of the Consumer Protection Board.

What do I need to apply for a loan?

  • Your and co-applicant passport or ID-card.
  • A statement from your and co-applicant bank account(s) for the last six months. If your income has been deposited with Nordea Bank over the last six months, you do not have to submit an account statement.
  • A loan application. You can submit your application on paperPDF or online. If you are a Nordea customer, you can submit your application through Nordea Netbank.
  • If a guarantee is required, the passport or ID-card of the guarantor and a statement from the guarantor’s bank account for the last six months if his or her income has not been deposited with Nordea Bank.
  • The bank has the right to ask for any additional documents and information it needs for reviewing the application.


Consumer loan
Contract fee 1.5 % of the loan amount, min 60 €
Increasing the loan amount 1 % of the additional amount, min 30 €
Changing the monthly payment date Once a year free of charge
Changing other terms and conditions of the loan contract 1 % of the loan balance, min 30 €
Early repayment of the loan either in part or in full Free of charge if notice is given 3 months before; in other cases interest is calculated for up to 3 months on the amount that is repaid early. Early repayment of a loan without real estate collateral is free
Changing the co-borrower 60 €
Changing the collateral 100 €
Other fees
Evaluation of collateral 50 €
Penalty for failure to submit the insurance policy of the collateral 100 €