Apply for a loan online
Apply for a cash loan or refinance loan. We will help you find the lowest interest rates and the best loan terms.
How to apply for a loan online
- Fill in and send your application form using our website.
- We verify and send the application to the banks.
- You receive offers from the banks within 1-3 working days.
- You compare the offers and choose the best one.
- You sign the loan agreement with
BankID.
For your application prepare:
- Loan amount
- First and last name
- Personal Number
- E-mail address
- Phone number
Simply submit your application! Remember you can
contact us at any stage!
Apply for loan if:
- You are over 23 years old
- You have an income of at least 230 000 NOK
- Note: Every loan applicant is liable to a credit assessment.
All banks carry out a credit rating of the applicant. What is a credit assessment? You can find details of your personal debt on: Gjeldsregisteret.no.
Get funds for your needs
We know how to successfully obtain a loan! No matter the purpose - whether it's a dream holiday, a home renovation or the purchase of new goods. We understand that sometimes unforeseen expenses or an investment opportunity arise.
It is up to you to decide whether you want to borrow money with or without collateral. These are two different loans and it is important to know the difference between them so you can make the right choice.
Loan without collateral
This is a loan that you can obtain from the bank without having to pledge the property you own. In this case, the bank does not require collateral in the form of a house or car. Applying for a loan without collateral is easier and quicker because it does not require additional steps, such as a property valuation.
The bank takes on more risk by not receiving anything from you that it could sell if the loan is not repaid. As a result, the loan often has a higher interest rate, which generates more security for the bank. The advantage, however, is that you can use the money for any purpose according to your needs.
Secured loan
This form of credit is safer for the bank. Therefore, it is willing to offer a lower interest rate and a longer repayment period compared to unsecured loans.
If you apply for a secured loan, you must obtain a valuation of the property in order to document its value to the bank. Obtaining a valuation can lengthen the application process.
Get the lowest interest rate on a loan
The interest rate your bank will offer you depends on your individual circumstances. There are many factors that determine the interest rate, and each bank rates it differently. The rating system varies, so you will often get many different offers from banks. The best solution is to send out your loan application to several banks at the same time. Your chances of receiving an offer that satisfies you are then higher!
How does the bank determine the interest rate on your loan?
Here are some of the criteria by which interest rates are assessed:
- Your income or total household income
- Your marital status and age
- Whether you are borrowing alone or with a co-borrower
- The amount of debt you have
- Property and other assets you own
Due to the wide range of criteria, Motty gives example interest rates ranging from 4.9% to 23.4%. There is a nominal interest rate that applies to each borrower. The actual interest rate ranges from 5.16% to 26.23% including all costs.
Would you like an individual interest rate offer? Send us your application!
We will verify the information and then forward it to the banks. This way you will receive offers from several banks at the same time, allowing you to choose the lowest interest rate offer available on the market.
How much does a loan cost?
The final cost of your loan depends on the obtained interest rate. It is the bank's interest rate, fees and commissions that determine the actual final cost of the loan.
Example:
A loan of 100 000 NOK with an interest rate of 11.9% over 5 years costs 35 914 NOK. So a loan of 100 000 NOK will actually cost you 135 914 NOK.
In addition, banks charge a one-time loan granting fee amounting to between 0 and 1990 NOK and monthly fees of between 25 and 45 NOK. Only the effective interest rate tells us what the total cost of the loan will be, as it takes all costs into account.
Who can apply for a loan?
If you want a loan with a good interest rate, you have to meet the criteria of the individual banks. The criteria vary and therefore the banks' decisions on your application will also vary.
A common criteria for each Norwegian bank is that they need to carry out a credit assessment of the applicant. Here is a list of the most popular criteria:
General requirements:
- At least 23 years of age and a regular income.
- The amount of credit you can apply for is assessed on the basis of your debts and income. Your debt cannot exceed your gross annual income multiplied by 5.
Will I get a loan while having an inkasso?
Receiving an inkasso means that you have not paid one or more creditors.
For this reason, many people are refused loans from their bank. There are also banks on the market that offer help in this situation. Obtaining a loan despite receiving inkasso involves refinancing.
In this situation, the bank deletes your debt, paying your creditors in the process. Then, it combines this debt into a completely new loan. If you want to take advantage of this solution, you must provide the bank with collateral such as real estate.
Apply for refinancing if you need to get your finances in order and regain control of them.