Competition for Payday Advances in Finland

Competition for Payday Advances in Finland

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

We discovered that a lot of the businesses provide loans much like loans that are quick. Companies provide credit rating, versatile loans and credit records, loans, loan brokerage solutions, etc. There we discovered different businesses that 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 days 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 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 pay day loans within the UK
Cashfloat Min ВЈ200 Max ВЈ1100 1-4 months 18 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 provide significantly more than cash to everybody else. With head office in Finland, it runs various other 21 nations including Germany, France, Croatia, Romania etc.
    • Loan quantity: minimum €50, maximum €300.
    • Loan extent: from 1 week as much as 1 month. Ferratum is interest free, and so the yearly rate of interest is 0,0%.
    • Age restriction when planning on taking that loan: 21 yrs old.
  • 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 thirty days.
    • 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 ended up being Lainaa which unveiled several other businesses providing fast loan services.

  • Luttoraha – is a Finnish personal liability that is limited focusing on credit rating. They will have experience with the granting of credit rating into the Nordic nations since 2005.
    • Loan amount: from €50 to €2000.
    • Loan period: 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 determined on 140.4per cent.
    • Age limitation when planning on taking a loan: twenty years old.
  • Ekstraluotto – is a dependable mortgage lender since 2006.
    • Loan quantity: from €10 to €2100.
    • Payback period: from 1 to 26 months.
    • The APR is 119.86% on a €2000 loan for one year repayment.
    • Age limitation to take that loan: 21 years of age.
  • Ainalaina – recognize the €2,000 credit line for longer than 21 years old.
    • Loan quantity: from €50 to €2000.
    • Loan extent: 45 times.
    • Borrowers can boost cash by text 24/7.
    • Clients solution available twenty-four hours a day.

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. Relating to our other supply, Parasvippi, you can find 9 businesses providing amount that is different of that are detailed and explored below.

  • Eurolan Group – is really an ongoing business with customer finance choices in Finland, Sweden and Poland. For Finland, it includes 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 rate of interest is 4.99%.
    • Loan example: for a financial loan of €100 for three 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 a 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 least quantity they feature is €10 with maximum quantity of €3000.
    • APR (annual) 98.68%
    • Nominal rate of interest is 5.99%.
    • Loan example: for a financial loan of €100 for three months, the borrower need to pay €37 in monthly payments or €112 as a whole. This makes a cost of €12.
    • Age restriction when planning on taking that loan: 21 yrs old.
  • Laina – is Finland’s company that is leading various types of loans. Versatile monetary services are currently used by significantly more than 400,000 Finns.
    • Loan extent: min a couple of 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 makes a charge of €21.
  • NordCREDIT – is yet another complete credit business that provides numerous sort of credits, including short-term loans online.
    • Minimal quantity of loan is €100 and optimum is €3000.
    • Loan Duration: min three months, maximum one year.
    • APR calculated towards the average of €2000 for 12 thirty days re re payment duration is 128.80% in addition to cost that is total €3255.
    • Annual nominal rate of interest is 60%.
    • Loan timeframe: min a couple of 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 costs.
    • APR for an average €800 is 99.69%.
    • Age restriction when planning on taking that loan: 21 yrs old.
  • OK cash is Finnish credit provider and leading for quite some time because the best loan company that is small.
    • Loan Duration: a few months to 24 months.
    • The fee for a €100 loan for ninety days is €29, this means the cost is €29.
    • https://paydayloanslouisiana.org/

    • Yearly rate of interest is 376.68%.
    • Age limitation to take that loan: twenty years old.
  • Soumilimiitti is a brand name 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 period: min a few months, maximum 12 months.
    • The price 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 payment duration is 163.98% thirty days.
  • Euro24 – The company’s primary business is funding additionally the granting of credit rating. 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 couple of months, max 24 months.
    • The price for the €100 loan for ninety days is €52, which means that the charge 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 actual quantity of total price of the mortgage will be €2086.
    • Age restriction to take a loan: 21 years of age.