Competition for Pay Day Loans in Finland

We did a bit of research comparing loans that are quick various organizations that offer payday advances in Finland.

We unearthed that a lot of the firms provide loans just like loans that are quick. Companies provide credit rating, versatile loans and credit reports, loans, loan brokerage services, etc. There we discovered different organizations that solution customers with fast loans.

Name Loan quantity Loan Duration Age limitation
Ferratum Min €50 Max €300 7-30 times 21 years Min that is vivus €10 €2010 3-30 times twenty years
Luttoraha Min €50 Max €2000 45 times 22 years
Ekstraluotto Min €10 Max €2100 1-26 months 21 years
Ainalaina Min €50 Max €2000 45 days 21 years
Euroloan Group as much as €500 3 months-3 years twenty years
Everyday.fi Min €20 Max €2000 3 months-1 12 months 21 years
Compare to payday advances when you look at the UK
Cashfloat Min ВЈ200 Max ВЈ1100 months that are 1-4 years
  • Ferratum fast loan is element of a Ferratum Corporation which is noted on the Frankfurt stock market. It really is Finnish institution that is financial easy objective, to offer significantly more than cash to any or all. With headquarters in Finland, it runs various other 21 nations Germany that is including, Croatia, Romania etc.
    • Loan quantity: minimum €50, maximum €300.
    • Loan timeframe: from 1 week as much as 1 month. Ferratum is interest free, so that the yearly rate of interest is 0,0%.
    • Age restriction when planning on taking that loan: 21 years of age.
  • Vivus has workplaces for payday advances in Finland, Sweden, Denmark, Latvia, Poland and British. It began running during 2009.
    • Loan quantity: minimum €10 and €2010 optimum.
    • Loan extent: 3 to 1 month.
    • For 10 as much as €400, yearly interest is 0%.
    • For 10 as much as €2010, the apr in €2000 is 447.6%.
    • Age limitation to take that loan: two decades old.

Our 2nd supply ended up being Lainaa which unveiled many other businesses providing loan that is quick.

  • Luttoraha – is a Finnish personal liability that is limited focusing on credit rating. They will have experience with the granting of credit into the Nordic nations since 2005.
    • Loan quantity: from €50 to €2000.
    • Loan extent: 45 times.
    • Right after paying right right straight back the mortgage, borrowers can utilize more.
    • It offers free protection application to every day life.
    • The APR of €2000 credit is determined on 140.4per cent.
    • Age limit to take that loan: twenty years old.
  • Ekstraluotto – is just a reliable home loan company since 2006.
    • Loan quantity: from €10 to €2100.
    • Payback period: from 1 to 26 months.
    • For a €2000 loan for one year payment, the APR is 119.86%.
    • Age restriction to take a loan: 21 yrs old.
  • Ainalaina – recognize the €2,000 credit line for longer than 21 years old.
    • Loan amount: from €50 to €2000.
    • Loan timeframe: 45 times.
    • Borrowers can boost cash by text 24/7.
    • Clients solution available around the clock.

Because we couldn’t find more sources about competition for payday advances in Finland, we now have expanded the investigation on higher level of credits over durations of many months. In accordance with our other supply, Parasvippi, you will find 9 organizations providing various level of loans that are detailed and explored below.

  • Eurolan Group – is just business with customer finance choices in Finland, Sweden and Poland. For Finland, it provides express loans for as much as €500. Here you will find the key traits:
    • Loan Duration: min three months, maximum 36 months.
    • APR (annual) 50.5%.
    • Nominal rate of interest is 4.99%.
    • Loan instance: for a financial loan of €100 for three months, the debtor has to spend €47 installments that are monthly or €139 as a whole. This is why a cost of €39.
    • Age limitation when planning on taking a loan: Above two decades old.
  • Eurolimitti – Eurolimitti is a brandname of JW-Group Ltd which runs since 2006 as totally finance company that is finnish-owned.
    • The minimum quantity they feature is €10 with maximum level of €3000.
    • APR (annual) 98.68%
    • Nominal interest is 5.99%.
    • Loan instance: for a financial loan of €100 for a couple of months, the borrower need to pay €37 in monthly payments or €112 as a whole. This will make a charge of €12.
    • Age restriction when planning on taking a loan: 21 years of age.
  • Laina – is Finland’s company that is leading various sorts of loans. Versatile economic solutions are currently utilized by a lot more than 400,000 Finns.
    • Loan timeframe: min a couple of months, maximum 36 months.
    • APR (annual) maximum 77.16%.
    • Loan instance: For the loan of €100 for a few months, the debtor has to pay €40 monthly payments, or €121 as a whole. This is why a cost of €21.
  • NordCREDIT – is yet another complete credit company that provides numerous types of credits, including temporary loans online.
    • Minimal level of loan is €100 and optimum is €3000.
    • Loan Duration: min a few months, maximum 12 months.
    • APR calculated into the average of €2000 for 12 thirty days payment duration is 128.80% while the cost that is total €3255.
    • Yearly nominal rate of interest is 60%.
    • Loan extent: min a couple of months, maximum one year.
    • The minimum quantity they feature is €20 with maximum quantity of €2000.
    • Withdrawal payment of 15% with month-to-month interest of 5% with no other fees.
    • APR for a normal €800 is 99.69%.
    • Age restriction to take a loan: 21 years old.

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  • okay cash is Finnish credit provider and leading for quite a while given that most useful little financial institution.
    • Loan Duration: a couple of months to two years.
    • The price for a €100 loan for ninety days is €29, which means that the fee is €29.
    • Yearly rate of interest is 376.68%.
    • Age limit when planning on taking that loan: two decades old.
  • Soumilimiitti is a brand of JW-Group Oy. It gives as much as €2000.
    • It gives €10 that is minimum optimum €2000.
    • Withdrawal commission is 15% for the raised quantity.
    • Loan timeframe: min a few months, maximum one year.
    • The price for the €100 loan for ninety days is €33, this means the cost is €33.
    • The yearly rate of interest is 477.6%.
    • The APR on credit of €800 for 12 payment duration is 163.98% thirty days.
  • Euro24 – The company’s main business is funding as well as the granting of credit. Euro24 Finance Ltd is registered when you look at the Southern Finland Regional State Administrative Agency creditor register from 31.1.2011.
    • Loan Duration: min a few months, maximum 24 months.
    • The price for a €100 loan for ninety days is €52, this means the charge is €52.
    • Yearly interest is 1254.79%.
    • Loan instance: for €800 the APR are going to be 98.87% for the repayment amount of 12 months. The actual quantity of total price of the mortgage will be €2086.
    • Age restriction when planning on taking a loan: 21 yrs old.