Best consumer loan 2018: Credit Score


Best consumer loan 2018 has been voted. This year, as last year, there are two loans that come out best in our election of the most advantageous loans.


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We are constantly working to maintain a good test of consumer loans . All the loans we test are assessed based on the same criteria. Parameters such as interest and fees, offers, user experience and an overall assessment of the loan is what determines the character of the consumer loan. It is also this assessment that forms the basis for the election of this year’s best consumer loan 2018.

Since the previous election, new lending guidelines have emerged, which may have affected the score of various loans. Two consumer loans, which nevertheless have endured the tooth of time and come out on top this year as last year: Bank Norwegian and Santander.

This means that Santander marks the third consecutive year with a split first place with Bank Norwegian. The latter has been at the top for a number of years. The loans have both good interest rates with very flexible loan amounts, and the players that supply the loans are predictable and credible. During the preparation of the loans you can read more about our assessment.


Bank Norwegian consumer loan

  • Best total package
  • Favorable establishment fee (SEK 0-950)
  • Good user experience

Advertising link Search now Read more Eff. Rate: 16.5%. Est. geb: 950. 100,000 u / 2 years. Cost: 16,682. Up to: 116,682 Eff. Rate: 8.38 to 37.62%. Duration 1-5 years. Refinance: Up to 15 years.  


  • Best consumer loan below 70,000
  • No term / entry fee below 70,000
  • Brilliant payment flexibility

Advertising link Search now Read more Eff. Rate: 15.96%. Est. geb: 0. 65.000 o / 5 years. Cost: 27,657. Up to: 92,657 Eff. Rate: 8.2 to 28.8%. Duration 1-5 years. Refinance: Up to 15 years.

Low fees determined by the size of the loan

Low fees determined by the size of the loan

Both Bank Norwegian and Santander score high because they offer flexible entry fees. The establishment fee can be a great deal for smaller loans, and affect the interest rate on the consumer loan.

Should I Choose Credit Cards or Consumer Loans?

For example, Bank Norwegian does not require establishment fees for consumer loans of between NOK 5,000 and NOK 14,999. If you borrow between NOK 15,000 and NOK 24,999, the establishment fee of NOK 450 is, and if you borrow between NOK 25,000 and NOK 600,000, the same fee is NOK 950.

Put this? Consumer loans without establishment fee

For Santander, the fees are all the more advantageous. For loans of less than NOK 70,000, you do not pay any entry fee or expensive termination fee. On the other hand, for loans over NOK 70,000, the establishment fee costs NOK 950, and termination fees of NOK 70 are also added each month.

We therefore recommend Santander for smaller loans, and Bank Norwegian for larger loans (over DKK 70,000).

The best consumer loans offer flexible loan amounts

The best consumer loans offer flexible loan amounts

Both Bank Norwegian and Santander offer consumer loans with flexible loan sums. Whether you need a small or large loan, these banks are at your disposal. Bank Norwegian is the most flexible of these two, with a possible loan amount between 5000 and 600 000 NOK. At Santander, the possible loan amount is between NOK 10,000 and NOK 350,000.

Consumer loans with low interest rates 2018

Consumer loans with low interest rates 2018

The fact that the fees as previously mentioned are determined by your loan sum also helps to reduce the loan’s total effective interest rate. As a result, you can get a low-interest consumer loan.

Consumer loan with co-applicant: What are the benefits?

Also read: What is the difference between effective and nominal interest rates?

The effective interest rate you will get on your loan will depend on factors such as your personal income, any payment remarks, age and the like. Each bank makes use of a credit check to assess your ability to pay. This means that you can achieve lower interest rates also with other banks than Bank Norwegian and Santander. We always recommend searching for more consumer loans to find the best option .

Loans without collateral to whatever you want

Loans without collateral to whatever you want

Both of these loans, and all the consumer loans in our other test, are loans without collateral. Loans without collateral mean that you do not pledge your property or other assets as collateral. This makes the risk lower for you, and higher for the bank. This is one of the reasons why consumer loans have somewhat higher interest rates than loans with mortgages, such as car loans or mortgages.

The advantage of consumer loans is that you don’t have to earmark the money you want to borrow for something special. You can simply spend the money on whatever you want, whether it’s refurbishment, vacation, repairs or general consumption. However, Henry recommends that you have a plan for the consumer loan – remember that it costs to borrow money!