Compare Personal Loans on Loan.no
Compare personal loans from several providers and get a clearer overview of interest rates, fees, loan amounts and terms before choosing.
A personal loan is an unsecured loan, which means that you do not normally need to provide any assets as security. It can be used for purposes such as home improvements, larger purchases or unexpected expenses.
As the lender does not hold any assets as security, your application is assessed based on your financial circumstances. Your income, existing debt, payment history and credit assessment can affect both how much you can borrow and the interest rate you are offered.
In short
Personal loans have individually determined interest rates and are offered without requiring security. Compare personal loans based on the effective interest rate, fees, repayment term and total amount repayable before choosing.
Compare Personal Loans Step by Step
Interest rates, fees, loan amounts and terms can vary between providers. Comparing several personal loans gives you a better basis for finding an option that suits your finances and needs.
Use the filters on Loan.no to adjust the comparison list based on your preferred loan amount and repayment term. You can then compare the effective interest rate, monthly payment, fees and total amount repayable.
Important to know
The information in the comparison list is general and based on information provided by the providers. The interest rate, loan amount and terms you are actually offered will be determined following an individual assessment.
Interest Rates and Costs
The nominal interest rate shows the interest charged on the loan itself, while the effective interest rate includes both interest and fees. The effective interest rate therefore provides the best basis for comparing the cost of different personal loans.
The total cost is affected by the loan amount, interest rate, fees and repayment term. A longer repayment term may reduce the monthly payment, but will usually mean that you pay more interest overall.
The interest rate is normally set individually. The provider may consider factors such as your income, existing debt, payment history, requested loan amount and repayment term. Your final interest rate will only be confirmed when you receive a specific offer.
You can read more about consumer debt and developments in the Norwegian market from the Financial Supervisory Authority of Norway.
Compare the total cost
A low monthly payment does not necessarily mean that the loan is the least expensive option. You should also consider the effective interest rate and total amount repayable.
How the Application Process Works
Once you have compared the available options, you can click “Apply now” next to the provider you would like to consider. You will then be taken to the lender’s or loan broker’s website, where you can read more and submit an application.
The provider will assess the information in your application and will normally carry out a credit check. If your application is approved, you will receive an offer containing information about the interest rate, fees, repayment term and total cost.
You decide whether you want to accept the offer. Once the agreement has been signed, usually using BankID, the money will normally be paid into your account. The loan is then repaid through monthly payments.
Loan Amount and Ability to Repay
How much you can borrow depends on the provider’s borrowing limits and its individual assessment of your finances. Your income, existing debt and regular expenses affect the amount you may be able to repay.
The amount you are offered may be lower than the amount you apply for. You should therefore consider how much you actually need and what level of monthly payment you can realistically afford.
Requirements vary between providers. Common requirements include being at least 18 years old, living in Norway and having a verifiable income. Some providers may have a higher minimum age or their own annual income requirements.
Calculating Loan Costs
A personal loan calculator can show you how the loan amount, interest rate and repayment term affect the monthly payment and total amount repayable.
The calculation is only an estimate and does not constitute a binding loan offer. The actual cost will depend on the interest rate and terms offered by the lender.
Common Uses
A personal loan can normally be used freely. Common uses include home improvements, larger purchases and unexpected expenses.
Before borrowing, consider whether the expense could be covered using savings or postponed. A personal loan includes interest and fees, which will make the purchase more expensive over time.
Choosing a Personal Loan
A suitable personal loan depends on your finances, the amount you want to borrow and how quickly you want to repay it. An option with a low monthly payment may cost more overall if the repayment term is long.
Before choosing
- Compare effective interest rates
- Check the fees and total amount repayable
- Choose a realistic repayment term
- Read the terms before applying
- Do not borrow more than you can afford to repay
If you prefer to submit one application directly through Loan.no instead of selecting a provider from the comparison list, you can use our separate application service. Your application will be forwarded to our lending partners for assessment. Applying is free and without obligation.