Bank Norwegian review

The stated rate runs at 10.43% to 36.85%. Rates are variable, so the figure moves with the market rather than being held for the life of the loan. Borrowers should budget for a rate that can rise as well as fall.

The origination fee is Etableringsgebyr kr 0 - kr 1 995 (tiered by loan amount), so the lowest tier costs nothing. The tier you pay depends on how much you borrow, which means a larger loan carries a larger one-off charge on top of the interest.

Loan sizes run NOK 5,000 to NOK 600,000 and terms run 12 to 60. That covers small consolidations through to a substantial home improvement project. Borrowing to the top of the range means committing for the longest term.

Funding takes 0-3 business days after the last document is received. The clock starts once the last document arrives, so gathering paperwork in one pass keeps the money moving. Plan the project around a short wait rather than same-day access.

The credit check is hard, which means the decision rests on your actual credit file. It is not a soft estimate, so an application affects your record. Eligibility also needs registered income and no payment remarks or active collection cases.

The consumer loan example sets out a nominal rate, a higher effective rate and an origination fee on a standard amount over a set period, with the total cost and the total repaid alongside. Read it next to the stated rate of 10.43% to 36.85% and the tiered fee of Etableringsgebyr kr 0 - kr 1 995 (tiered by loan amount).

Available types are personal, debt consolidation and credit line. That covers personal borrowing, debt consolidation, a revolving credit line, car finance and home improvement. A single lender can therefore handle both a consolidation and a later renovation.

Free early repayment is available, so settling the balance sooner does not add a fee. That makes overpayment worth considering if your income rises. With a variable rate, clearing the loan also removes the exposure to rate rises.

Support runs on phone, email and help centre, covering phone, email and a help centre. There is no live chat listed, so quick answers by message are not part of the offer. A call is the fastest route listed.