Guide to Finnish Loans

Guide to Finnish Loans for Expats

Getting a loan in Finland as an expat can be straightforward if you understand the Finnish banking system. This guide covers everything you need to know.

Types of loans in Finland

• Consumer loan (kulutusluotto) – 2,000–70,000 €, no collateral required. APR from 4.9%.
• Home loan (asuntolaina) – For purchasing property. Margin from 0.4%. Requires min. 15% down payment.
• Car loan (autolaina) – For new and used vehicles. Competitive rates.
• Business loan (yrityslaina) – For entrepreneurs and small businesses.

Requirements for loans in Finland

• Finnish bank account (required)
• Finnish personal ID number (henkilötunnus)
• Regular income (employment or pension)
• No payment defaults (luottotiedot)

Frequently asked questions

Can I get a loan in Finland as a foreign national?

Yes, if you have a Finnish personal ID number, a Finnish bank account, and regular income, you can apply for a loan in Finland.

What is the APR (todellinen vuosikorko)?

The APR (Annual Percentage Rate) includes all loan costs: interest, fees and charges. It is the best way to compare loans.