Banknote.lv review

Updated September 28, 2026 · BorrowCue Editorial Team · Facts checked September 26, 2026

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Our verdict

Banknote.lv is a Latvian direct lender for adults with regular income who need money the same day and can live with the cost. The APR of 54.2% applies to both personal and secured loans, so the speed and the fixed rate are what you pay for.

Key facts

Best for
Borrowers in Latvia who need a fixed rate, quick payout and a personal or secured loan.
APR
54.2% (Source, checked September 26, 2026)
Loan amount
€50 to €10,000 (Source, checked September 26, 2026)
Term
12 to 84 months (Source, checked September 26, 2026)
Credit check
Hard (Source, checked September 26, 2026)
Funding time
Disbursed immediately after contract, within 10 minutes (Source, checked September 26, 2026)
Representative example
Consumer loan of 300 EUR: 3.677% per month, 44.12% per year, APR 54.20%, total repayable 376.44 EUR in 12 annuity instalments (Source, checked September 26, 2026)
Rate type
Fixed (Source, checked September 26, 2026)
Lender type
Direct lender (Source, checked September 26, 2026)
Free early repayment
Yes (Source, checked September 26, 2026)
Eligibility
Aged 18+; regular income, solvency, credit history and existing obligations assessed; identity verified by internet bank, transfer, ID card or eParaksts; self-employed also accepted (Source, checked September 26, 2026)
Loan types
Personal, Secured (Source, checked September 26, 2026)
Use cases
Home-improvement (Source, checked September 26, 2026)
Legal entity
AS "DelfinGroup" (Source, checked September 26, 2026)
Headquarters
Latvia (Source, checked September 26, 2026)
Support channels
Phone, Email, Help-centre (Source, checked September 26, 2026)
Pricing model
Fixed rate
Features
Same-day funding
Official website
banknote.lv

Apps and profiles

Get the app
Google Play

Pros and cons

Pros

  • Money arrives on signing the contract, with Disbursed immediately after contract, within 10 minutes
  • Fixed rate pricing on both personal and secured loans, per fixed
  • Free early repayment lets you clear the balance early and cut the interest you pay
  • Support runs on phone, email and help centre, so you can call or email

Cons

  • The APR of 54.2% is heavy next to a site median of 12%
  • Credit check is hard, and hard decides the outcome
  • Capped at €50 to €10,000, so larger home projects need a different lender
Banknote.lv

Ready to try Banknote.lv?

Scored 9.0 / 10 by BorrowCue.

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Who it suits

  • Latvian adults with regular income, including self-employed applicants
  • Anyone who can clear the balance early and keep the interest down
  • Borrowers who want a fixed rate rather than a variable one

Who should look elsewhere

  • Anyone after the cheapest borrowing in Latvia, since 54.2% is well above the site median of 12%
  • Borrowers with a shaky credit history, given the hard credit check on hard
  • Those needing more than €50 to €10,000, who should look at Monzo Flex instead

How Banknote.lv compares

Where Banknote.lv is available

Available
Latvia
Licence in Latvia
Financial Supervision Commission of Latvia (Finansu uzraudzibas komisija) (NK-2016-028), checked September 26, 2026

Countries from the brand (Source, checked September 26, 2026)

Frequently asked questions

What rate will I pay on a Banknote.lv loan?+

The APR is 54.2% and it applies to both the personal and the secured loan. Pricing is fixed, so the rate does not drift with the market during the term. A borrower on a small loan pays a long stretch of interest for the speed.

How fast is the money after I sign?+

Funds are released straight after the contract, with Disbursed immediately after contract, within 10 minutes. That makes it one of the quicker ways to get cash in the Latvian market. Support is on phone, email and help centre if the payment is delayed.

Is Banknote.lv regulated?+

The lender operates under the Financial Supervision Commission of Latvia, with licence NK-2016-028. The legal entity is AS "DelfinGroup". It lends its own money as a direct lender.

What size loan can I get and over what term?+

Personal and secured loans run from €50 to €10,000 over a term of 12 to 84. The ceiling is modest, so this suits repairs and short-term needs rather than a full refurbishment. Home improvement is the stated use case.

Can I repay early without a penalty?+

Early repayment is free, so clearing the balance ahead of schedule stops interest building further. Paired with fixed rate pricing, it is the cheapest way to use a loan from this lender. Worth doing if the money lands early.

What checks do I have to pass?+

Applications go through a hard credit check, and income, solvency, credit history and existing commitments are weighed. Applicants must be adults with a regular income, and self-employed people can apply. Identity is checked through an internet bank, a transfer, an ID card or eParaksts.

How does it compare with cheaper lenders?+

The gap is wide. Banknote.lv charges 54.2%, while Monzo Flex runs at 10% to 23% and the site median sits at 12%. The trade is cost for speed, since Disbursed immediately after contract, within 10 minutes is part of the deal.

What loan types are available?+

Two, according to personal and secured: personal and secured. Both carry the same 54.2% under fixed rate pricing, so choosing between them is about collateral rather than price. Home improvement is the intended use.

Sources

  • banknote.lv checked September 26, 2026

    Backs: APR, Headquarters, Legal entity, Loan types, Pricing model, Rate type, Representative example, Term

    “Maximum annual percentage rate - 54.20% (representative example: borrowing 300 EUR at 3.677% per month, 44.12% per year, APR 54.20%)”

  • banknote.lv/doc/Licence_Banknote.pdf checked September 26, 2026

    Backs: Licences

  • banknote.lv/kontakti checked September 26, 2026

    Backs: Support channels

    “Phone: Info 66116688, loan repayment issues 66155000; E-mail; Questions and answers page”

  • banknote.lv/paterina-kredits checked September 26, 2026

    Backs: Loan amount, Credit check, Eligibility, Features, Free early repayment, Funding time, Lender type, Use cases

    “Consumer loan: loan from 50 EUR to 10,000 EUR”

Compiled from 4 source pages, checked September 26, 2026. We did not open an account.

Not confirmed yet: Arrangement fee.

Banknote.lv

Banknote.lv

Borrowers in Latvia who need a fixed rate, quick payout and a personal or secured loan.

9.0/10See alternatives

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