Competition for Pay Day Loans in Finland

Competition for Pay Day Loans in Finland

We did a bit of research comparing quick loans in various organizations that offer pay day loans in Finland.

We discovered that a most of the businesses offer loans just like quick loans. Companies provide credit rating, versatile loans and credit reports, loans, loan brokerage services, etc. There we discovered companies that are various 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 two decades
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 times 21 years
Euroloan Group Up to €500 3 months-3 years twenty years
Everyday.fi Min €20 Max €2000 3 months-1 12 months 21 years
Compare to payday advances within the UK
Cashfloat Min ВЈ200 Max ВЈ1100 1-4 months 18 years
  • Ferratum loan that is quick element of a Ferratum Corporation which is noted on the Frankfurt stock market. It’s Finnish lender with simple objective, to provide significantly more than money to everyone else. With head office in Finland, it runs various other 21 nations Germany that is including, Croatia, Romania etc.
    • Loan amount: minimum €50, maximum €300.
    • Loan period: 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 yrs old.
  • Vivus has workplaces for pay day loans in Finland, Sweden, Denmark, Latvia, Poland and British. It began running last year.
    • Loan quantity: minimum €10 and €2010 optimum.
    • Loan period: 3 to thirty day period.
    • For 10 as much as €400, yearly interest is 0%.
    • For 10 as much as €2010, the percentage that is annual in €2000 is 447.6%.
    • Age restriction when planning on taking a loan: twenty years old.

Our 2nd supply had been Lainaa which unveiled several other businesses providing fast loan solutions.

  • Luttoraha – is just a Finnish personal liability that is limited devoted to credit rating. They will have experience with the granting of credit rating when you look at the countries that are nordic 2005.
    • Loan quantity: from €50 to €2000.
    • Loan timeframe: 45 times.
    • Right after paying right right back the mortgage, borrowers can utilize more.
    • It provides free protection application to life that is everyday.
    • The APR of €2000 credit is calculated on 140.4per cent.
    • Age restriction when planning on taking that loan: twenty years old.
  • Ekstraluotto – is a lending that is reliable since 2006.
    • Loan quantity: from €10 to €2100.
    • Payback period: from 1 to 26 months.
    • For a €2000 loan for one year repayment, the APR is 119.86%.
    • Age limitation to take a loan: 21 years old.
  • Ainalaina – recognize the €2,000 credit line for over 21 years old.
    • Loan quantity: from €50 to €2000.
    • Loan extent: 45 times.
    • Borrowers can boost cash by text 24/7.
    • Clients solution available round the clock.

We have expanded the research on higher amount of credits over periods of several months because we couldn’t find more sources about competition for payday loans in Finland. In accordance with our other supply, Parasvippi, you can find 9 organizations offering amount that is different of that are detailed and explored below.

  • Eurolan Group – is just an ongoing business with consumer finance choices in Finland, Sweden and Poland. For Finland, it gives express loans for as much as €500. Here you will find the key traits:
    • Loan Duration: min a few months, maximum three years.
    • APR (annual) 50.5%.
    • Nominal interest is 4.99%.
    • Loan instance: For the loan of €100 for a few months, the debtor has to spend €47 monthly payments, or €139 as a whole. This is why a cost of €39.
    • Age restriction to take a loan: Above two decades old.
  • Eurolimitti – Eurolimitti is a brand name of JW-Group Ltd which operates since 2006 as totally Finnish-owned finance company.
    • The amount that is least they feature is €10 with maximum number of €3000.
    • APR (annual) 98.68%
    • Nominal rate of interest is 5.99%.
    • Loan instance: For the loan of €100 for a couple of months, the borrower must spend €37 in monthly payments or €112 as a whole. This will make a cost of €12.
    • Age limitation when planning on taking a loan: 21 years old.
  • Laina – is Finland’s company that is leading various sorts of loans. Versatile monetary solutions are currently employed by significantly more than 400,000 Finns.
    • Loan extent: min three months, maximum three years.
    • APR (annual) maximum 77.16%.
    • Loan instance: For the loan of €100 for three months, the borrower has to spend €40 monthly installments, or €121 as a whole. This is why a charge of €21.
  • NordCREDIT – is yet another complete credit business that offers numerous variety of credits, including short term loans online.
    • Minimal level of loan is €100 and optimum is €3000.
    • Year Loan Duration: min 3 months, max 1.
    • APR calculated to your average of €2000 for 12 thirty days re payment duration is 128.80% as well as the total price is €3255.
    • Yearly nominal rate of interest is 60%.
  • Loan period: 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 rate of interest of 5% with no other costs.
  • APR for a normal €800 is 99.69%.
  • Age limitation when planning on taking that loan: 21 yrs old.
  • okay Money is Finnish credit provider and leading for quite some time while the most useful small financial institution.
    • Loan Duration: a few months to two years.
    • The price for the €100 loan for ninety days is €29, meaning the charge is €29.
    • Yearly rate of interest is 376.68%.
    • Age limit when planning on taking a loan: two decades old.
  • Soumilimiitti is a brand name of JW-Group Oy. it gives as much as €2000.
    • It gives €10 that is minimum maximum €2000.
    • Withdrawal commission is 15% for the raised quantity.
    • Loan extent: min three months, maximum 12 months.
    • The fee for a €100 loan for 3 months is €33, this means the cost is €33.
    • The yearly interest rate is 477.6%.
    • The APR on credit of €800 for 12 thirty days repayment duration is 163.98%.
    • http://https://paydayloansmichigan.org/

  • Euro24 – The company’s primary business is funding and also the granting of credit rating. Euro24 Finance Ltd is registered in 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 the €100 loan for 3 months is €52, meaning the cost is €52.
    • Yearly rate of interest is 1254.79%.
    • Loan instance: for €800 the APR will soon be 98.87% for the payment amount of one year. The quantity of total price of the mortgage shall be €2086.
    • Age limitation when planning on taking that loan: 21 years old.
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