Updated October 14, 2026 · BorrowCue Editorial Team
Bank Norwegian vs BAWAG
What sets them apart
| Compare |  Bank Norwegian | BAWAG ReviewSee alternativesSee alternatives |
|---|---|---|
| Loan amount | NOK 5,000 to NOK 600,000 | €4,000 to €75,000 |
| Term | 12 to 60 months | 12 to 120 monthsHigher |
| Arrangement fee | Etableringsgebyr kr 0 - kr 1 995 (tiered by loan amount) | 0 EUR - no processing fee (keine Bearbeitungsgebuehr) |
| Funding time | 0-3 business days after the last document is received | Payout within 24 hours |
| Rate type | Variable | Fixed |
| Free early repayment | YesHas it | No |
| Eligibility | Age 20 or over, registered income, and no payment remarks or active collection cases | Minimum age 18, main residence in Austria |
| Loan types | Personal, Debt consolidation, Credit line, CarCovers more | Personal, Debt consolidation, Car |
| APR | 10.43% to 36.85% | Not confirmed |
| Representative example | Forbrukslån: nominal rate 12.99%, effective rate 15.15%, NOK 85,000 over 5 years, origination fee NOK 995; cost NOK 34,173, total NOK 119,173 | Not confirmed |
| Origination fee (%) | Not confirmed | 0% |
Same on both: Credit check (Hard), Lender type (Direct lender), Use cases (Home improvement).
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Key differences
- Bank Norwegian is available in 5 more countries.
- Free early repayment: only Bank Norwegian.
- Term is higher at BAWAG: 12 to 120 months vs 12 to 60 months.
- Loan types: only Bank Norwegian offers Credit line.
Our verdict on each
Bank Norwegian
Bank Norwegian suits Norwegian borrowers with registered income who want a direct lender, a credit line or a home improvement loan, and free early repayment.
BAWAG
BAWAG’s Online Kredit is an Austrian consumer loan with an online application. The process includes identity confirmation and signing the loan agreement, and applicants must have their primary residence in Austria.
Score breakdown
| Area | Bank Norwegian | BAWAG |
|---|---|---|
| Cost | 9.0Higher | 8.9 |
| Offer | 9.1Variable rate with APR 10.43% to 36.85%, tiered origination fee Etableringsgebyr kr 0 - kr 1 995 (tiered by loan amount). | 9.4Higher |
| Trust | 9.1 | 9.2Higher |
Availability and regulation
| Country | Bank Norwegian | BAWAG |
|---|---|---|
| Austria | Not confirmed |
Additional countries for Bank Norwegian: 6. Additional countries for BAWAG: 1.
A third option
Sofkredit has term at 6 to 240 months, against 12 to 60 months for Bank Norwegian and 12 to 120 months for BAWAG.
Sofkredit reviewWhere these facts come from
Bank Norwegian
- banknorwegian.no: 17 facts, checked September 26, 2026
BAWAG
- bawag.at: 16 facts, checked September 26, 2026
How they place
| Ranking | Bank Norwegian | BAWAG |
|---|---|---|
| Personal loans | 520 of 1920 | 526 of 1920 |
| Debt consolidation loans | 161 of 425 | 165 of 425 |
| Car loans | 138 of 432 | 141 of 432 |
| Home improvement loans | 213 of 562 | 217 of 562 |
Every fact side by side
| Fact | Bank Norwegian | BAWAG |
|---|---|---|
| Pricing model | Not confirmed | Fixed rate |
| Legal entity | NOBA Bank Group AB (publ) NUF | BAWAG P.S.K. Bank fuer Arbeit und Wirtschaft und Oesterreichische Postsparkasse Aktiengesellschaft |
| Headquarters | Norway | Austria |
| Founded | 2007 | Not confirmed |
| Support channels | Phone, Email, Help centre | Phone, Email, Help centre |
Mortgages
| Fact | Bank Norwegian | BAWAG |
|---|---|---|
| Maximum loan to value | Not confirmed | 80% |
| Purpose | Not confirmed | Purchase, Remortgage |
Where each stands against the rest
| Fact | Bank Norwegian | BAWAG | Median |
|---|---|---|---|
| APR | 10.43% to 36.85%above the median | Not confirmed | 8.99 |
| Term | 12 to 60 monthsat the median | 12 to 120 monthshighest quarter | 60 |
| Origination fee (%) | Not confirmed | 0%below the median | 0.25% |
Median across 1152 listed lenders.
Pros and cons
Bank Norwegian
Pros
- Covers personal, debt consolidation, car, credit line and home improvement borrowing in one place
- Origination fee starts at free: Etableringsgebyr kr 0 - kr 1 995 (tiered by loan amount), tiered by loan amount
- Free early repayment, so clearing the balance early costs nothing extra
Cons
- Support runs on phone, email and help centre only, with no live chat listed
- Rates are variable, so the cost of an existing loan can move after you take it
- Applications run a hard credit check, so a rejected application leaves a mark on the file
BAWAG
Pros
- The Online Kredit is described as a consumer loan with an online application.
- The described application includes identity confirmation and contract signing.
Cons
- Applicants must have their primary residence in Austria; lender requirements also apply.
Who each suits
Bank Norwegian
Who it suits
- Borrowers with registered income and a clean payment record
- Anyone planning a home improvement project, which is a listed use
- People who want to clear the loan early without a repayment fee
Who should look elsewhere
- Anyone wanting live chat, since support runs on phone, email and help centre only
- Borrowers who need a fixed rate, as the rate type is variable
- Applicants with payment remarks or active collection cases
BAWAG
Who it suits
- People with primary residence in Austria who want to compare online consumer-loan applications.
Who should look elsewhere
- Applicants without primary residence in Austria.
Current offers
BAWAG
Current offer
Discount code
Konto Prozent: 5% account fee back with Online Kredit: 5% account management fee back monthly, up to 45% in total with Konto Prozent
Register via BAWAG Banking App; applies to KontoBox Small, Medium, Large and XLarge salary, private and pension accounts; credit approval required
Source, checked September 26, 2026
Country by country
| Country | Bank Norwegian | BAWAG |
|---|---|---|
| Austria | No | Yes |
| Denmark | Yes | No |
| Finland | Yes | No |
| Germany | Yes | No |
| Norway | Yes | No |
| Spain | Yes | No |
| Sweden | Yes | No |
Questions about each
Bank Norwegian
What APR does Bank Norwegian charge on an unsecured loan?+
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.
How much does it cost to set up a loan?+
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.
How much can I borrow and for how long?+
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.
How long does it take to receive the money?+
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.