Competition for Payday Advances in Finland

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

We discovered that a most of the firms provide loans just like fast loans. Companies provide credit rating, versatile loans and credit records, loans, loan brokerage solutions, etc. There we discovered different businesses that service 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 20 years
Luttoraha Min €50 Max €2000 45 days 22 years
Ekstraluotto Min €10 Max €2100 1-26 months 21 years
Ainalaina Min €50 Max €2000 45 times 21 years
Euroloan Group as much as €500 3 months-3 years twenty years
Everyday.fi Min €20 Max €2000 3 months-1 year 21 years
Compare to pay day loans when you look at the UK
Cashfloat Min ВЈ200 Max ВЈ1100 months that are 1-4 years
  • Ferratum loan that is quick section of a Ferratum Corporation which is noted on the Frankfurt Stock Exchange. It’s Finnish institution that is financial easy objective, to provide significantly more than cash to any or all. With head office in Finland, it runs various other 21 nations Germany that is including, Croatia, Romania etc.
    • Loan quantity: minimum €50, maximum €300.
    • Loan extent: from 1 week as much as 1 month. Ferratum is interest free, therefore the yearly rate of interest is 0,0%.
    • Age limitation 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 timeframe: 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 when planning on taking that loan: two decades old.

Our 2nd supply had been Lainaa which unveiled other businesses providing loan that is quick.

  • Luttoraha – is a Finnish personal restricted obligation business focusing on credit rating. They will have expertise in the granting of credit rating within the Nordic nations since 2005.
    • Loan quantity: from €50 to €2000.
    • Loan extent: 45 days.
    • Right after paying straight right back the loan, borrowers can utilize more.
    • It offers free safety application to life that is everyday.
    • The APR of €2000 credit is determined on 140.4%.
    • Age limitation to take a loan: twenty years old.
  • Ekstraluotto – is just 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 year repayment, the APR is 119.86%.
    • how do payday loans work in louisiana

    • Age restriction when planning on taking a loan: 21 years old.
  • Ainalaina – recognize the €2,000 personal credit line for over 21 years old.
    • Loan quantity: from €50 to €2000.
    • Loan period: 45 times.
    • Borrowers can enhance cash by text 24/7.
    • Customers solution available twenty-four hours a day.

Because we couldn’t find more sources about competition for payday advances in Finland, we now have expanded the investigation on greater number of credits over durations of many months. Based on our other supply, Parasvippi, you can find 9 companies providing amount that is different of that are detailed and explored below.

  • Eurolan Group – is an ongoing business with customer finance options in Finland, Sweden and Poland. For Finland, it provides loans that are express as much as €500. Here you will find the key faculties:
    • Loan Duration: min a couple of months, maximum 36 months.
    • APR (annual) 50.5%.
    • Nominal interest is 4.99%.
    • Loan instance: for a financial 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 limitation when planning on taking 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 business.
    • The amount that is least they provide is €10 with maximum quantity of €3000.
    • APR (annual) 98.68%
    • Nominal rate of interest is 5.99%.
    • Loan instance: For the loan of €100 for a few months, the debtor must spend €37 in monthly payments or €112 as a whole. This is why a charge of €12.
    • Age limit to take a loan: 21 yrs old.
  • Laina – is Finland’s company that is leading various sort of loans. Versatile monetary services are currently employed by significantly more than 400,000 Finns.
    • Loan timeframe: min a few months, maximum 36 months.
    • APR (annual) maximum 77.16%.
    • Loan example: For the loan of €100 for a few months, the debtor has to spend €40 installments that are monthly or €121 as a whole. This will make a cost of €21.
  • NordCREDIT – is another complete credit business that provides numerous types of credits, including temporary loans online.
    • Minimal number of loan is €100 and optimum is €3000.
    • Year Loan Duration: min 3 months, max 1.
    • APR calculated into the average of €2000 for 12 thirty days re payment duration is 128.80% as well as the cost that is total €3255.
    • Yearly nominal rate of interest is 60%.
    • Loan period: min three months, maximum 12 months.
    • The amount that is least they feature is €20 with maximum number 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 when planning on taking that loan: 21 yrs . old.
  • okay cash is Finnish credit provider and leading for many years whilst the most readily useful loan company that is small.
    • Loan Duration: a few months to a couple of years.
    • The fee for a €100 loan for ninety days is €29, which means that the cost is €29.
    • Yearly interest is 376.68%.
    • Age restriction to take a loan: two decades old.
  • Soumilimiitti is a brand name of JW-Group Oy. It includes as much as €2000.
    • It gives €10 that is minimum optimum €2000.
    • Withdrawal commission is 15% associated with the raised quantity.
    • Loan extent: min three months, maximum one year.
    • The fee for a €100 loan for ninety days is €33, which means that the charge is €33.
    • The yearly rate of interest is 477.6%.
    • The APR on credit of €800 for 12 thirty days repayment duration is 163.98%.
  • Euro24 – The company’s primary business is funding additionally 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 ninety days is €52, this means the charge is €52.
    • Annual interest is 1254.79%.
    • Year loan example: for €800 the APR will be 98.87% for a repayment period of 1. The quantity of total price of the mortgage will be €2086.
    • Age restriction when planning on taking that loan: 21 yrs old.

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