Consumer Loans Online
Get an overview of your options for applying for consumer loans online through our overview. Apply for more places for free and find the best rate
When you search online you can borrow up to USD 400,000. We have created a list of good providers online, where you can apply for free and without obligation :
Most widely used purposes of consumer loans
Consumer loans are the most widespread loan form on the web and can apply to all providers online. The vast majority of Danes choose to make consumer loans of less than USD 100,000. Only a few will hit the high levels mentioned above. But what are the most widespread purposes? Good Finance has looked into this and found 5 more common causes:
- Luxury: Clothes, shoes, television etc.
- Rebuilding / extension
- New kitchen
- Hobby (financing your hobby)
We have made targeted listings depending on whether you have a large or small need for money. That way you can quickly find the relevant companies, for you and your needs.
Pay attention to the OPP
You should pay particular attention to the offer’s OPP rate, as it includes all costs and is thus the most important comparison parameter when assessing which is the cheapest. This generally applies whether you are seeking money online or at the bank. OPP should always be your primary focus so you end up choosing the cheapest solution.
The consumer loan market has not always been transparent and several policy initiatives and rules have been launched to help protect consumers. This is one of the reasons why it has now become compulsory to state clearly about the consumer loan OPP, so that the consumer can easily see and compare offers and assess which ones are the cheapest.
What affects my loan options?
In particular, there are four different areas where the providers differ. Age, income, maturity and amount are four key parameters that vary from provider to provider.
Just as the providers are different, all consumers and applications will be different as our income, age, housing conditions, payment history and debt history are individual. These are five key elements when companies evaluate you and have to evaluate which offer you need to have returned.
The first is, of course, if they say YES, the next is what interest rate they can offer you. It will largely depend on how strong a private economy and credit rating you have, as well as how much money you have applied for. The more money you apply for, the greater the demands placed on your finances.
Overall good chances of approval online
Having said all that, there is no doubt that the approval chances are good and the approval rate is generally significantly higher than in the country’s banks. Online companies interfere less in purpose, set fewer requirements and are generally willing to take a slightly higher risk (against paying a slightly higher interest rate).
For this reason, the online loan market has become a good alternative to the country’s banks if they reject your inquiry or if you want a more flexible, fast and straightforward application process. These are three of the clear benefits of seeking money online.
Consumer loans in Denmark
Consumer loans are very widespread in Denmark, where it has become particularly widespread and popular to apply online. Partly because the possibilities are many, the application requirements are reasonable and then the process is much simpler, compared to the bank.
In addition, many Danish banks have tightened their requirements after the financial crisis. have become more difficult to take out a consumer loan with them. In many ways, there can be talk of a shift in the behavior of many consumers after the financial crisis, where more and more people have taken a price-conscious side. An increased focus on price and that’s just something we can support.
Consumer loans are also a hotly debated topic in the media and on various blogs and forums online. With good reason. This is something that most Danes try to record once or more during their lives. Debt is never good for the private economy and especially the expensive forms of borrowing have been much discussed.
This is especially the case for small amounts such as USD 5,000 – 10,000, which entails an insanely high increase (the annual percentage cost).
Please note that you cannot be sure of finding the cheapest solution through our directory, as there may be cheaper providers that are not represented.