MOLEKA NEWS

Competition for Payday Advances in Finland

Competition for Payday Advances in Finland

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

We unearthed that a majority of the companies provide loans comparable to loans that are quick. Companies provide credit rating, versatile loans and credit reports, loans, loan brokerage solutions, etc. There we discovered companies that are various solution customers with fast loans.

Name Loan quantity Loan Duration Age restriction
Ferratum Min €50 Max €300 7-30 times 21 years
Vivus Min €10 Max €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 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 within the UK
Cashfloat Min ВЈ200 Max ВЈ1100 months that are 1-4 years
  • Ferratum fast loan is part of a Ferratum Corporation and it’s also noted on the Frankfurt stock market. It’s Finnish standard bank with easy objective, to provide a lot more than money to any or all. With head office in Finland, it operates in other 21 nations including Germany, France, Croatia, Romania etc.
    • Loan quantity: minimum €50, maximum €300.
    • Loan period: from seven days as much as 1 month. Ferratum is interest free, and so the yearly 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 UK. It began running in ’09.
    • Loan amount: minimum €10 and €2010 maximum.
    • 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 to take that loan: two decades old.

Our 2nd supply ended up being Lainaa which unveiled some other businesses providing fast loan solutions.

  • Luttoraha – is a Finnish personal restricted obligation business devoted to credit. They will have expertise in the granting of credit in the countries that are nordic 2005.
    • Loan quantity: from €50 to €2000.
    • Loan timeframe: 45 times.
    • Right after paying straight straight straight back the mortgage, borrowers can utilize more.
    • It offers free protection application to life that is everyday.
    • The APR of €2000 credit is determined on 140.4per cent.
    • Age limitation to take that loan: two decades old.
  • Ekstraluotto – is a lending that is reliable since 2006.
    • Loan quantity: from €10 to €2100.
    • Payback period: from 1 to 26 months.
    • The APR is 119.86% for a €2000 loan for one year repayment.
    • Age limitation to take that loan: 21 yrs . old.
  • Ainalaina – recognize the €2,000 personal credit line for over 21 years old.
    • Loan quantity: from €50 to €2000.
    • Loan duration: 45 days.
    • Borrowers can boost cash by text 24/7.
    • Clients service available round the clock.

Because we couldn’t find more sources about competition for payday advances in Finland, we now have expanded the study on greater level of credits over periods of almost a year. Based on our other supply, Parasvippi, you will find 9 businesses providing amount that is different of that are detailed and explored below.

  • Eurolan Group – is just company with customer finance choices in Finland, Sweden and Poland. For Finland, it includes express loans for as much as €500. Here you will find the key traits:
    • Loan Duration: min a few months, maximum 36 months.
    • APR (annual) 50.5%.
    • Nominal rate of 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 will make a charge of €39.
    • Age restriction when planning on taking that loan: Above two decades old.
  • Eurolimitti – Eurolimitti is a brand name of JW-Group Ltd which runs since 2006 as totally Finnish-owned finance business.
    • The minimum quantity they provide 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 three months, the debtor must spend €37 in equal payments or €112 as a whole. This will make a cost of €12.
    • Age limitation to take a loan: 21 yrs old.
  • Laina – is Finland’s company that is https://missouripaydayloans.org login leading various sorts of loans. Versatile economic solutions are already employed by a lot more than 400,000 Finns.
    • Loan timeframe: min a few months, maximum three years.
    • APR (annual) maximum 77.16%.
    • Loan instance: for a financial loan of €100 for a couple of months, the debtor has to spend €40 installments that are monthly or €121 as a whole. This is why a charge of €21.
  • NordCREDIT – is another complete credit business that provides numerous sort of credits, including short-term loans online.
    • Minimal number of loan is €100 and optimum is €3000.
    • Year Loan Duration: min 3 months, max 1.
    • APR calculated towards the average of €2000 for 12 thirty days re re payment duration is 128.80% additionally the total expense is €3255.
    • Yearly nominal rate of interest is 60%.
    • Year loan duration: min 3 months, max 1.
    • 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 costs.
    • APR for an average €800 is 99.69%.
    • Age limitation when planning on taking a loan: 21 years of age.
  • okay cash is Finnish credit provider and award winning for quite some time once the most useful loan company that is small.
    • Loan Duration: a couple of months to a couple of years.
    • The fee for a €100 loan for 3 months is €29, meaning the charge is €29.
    • Yearly interest is 376.68%.
    • Age limitation when planning on taking a loan: twenty years old.
  • Soumilimiitti is a brand name of JW-Group Oy. it provides up to €2000.
    • It gives minimum €10 and optimum €2000.
    • Withdrawal commission is 15% for the raised amount.
    • Year loan duration: min 3 months, max 1.
    • The fee for a €100 loan for ninety days is €33, this means the charge is €33.
    • The annual 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 as well as 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 three months, maximum 24 months.
    • The fee for a €100 loan for 3 months is €52, this means the cost is €52.
    • Yearly rate of 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 years old.
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