Why Combine Loans?
If you are in a situation where you have to pay a large number of small loans, whose monthly installments start to be too high for your income, then in this situation you should consider combining these loans with one larger loan.
By combining your loan, you will be able to reduce your monthly borrowings to match your earnings, and spend more than just reducing the leverage.
The advantage of a larger loan is, in addition to a smaller monthly payment, generally a much lower interest rate. You can save thousands of euros on an annual basis by paying interest only.
It is advisable to talk with your own bank about loan pooling or to apply for a bigger loan to merge loans online.
Below we have listed the TOP 5 online loan services that offer customers the opportunity to combine loans:
(If you can’t find a place to combine loans on this page, check out our comprehensive loan search )
1. Bank Norwegian
Bank Norwegian is a Norwegian bank that has just entered the Finnish loan market. The bank is one of Norway’s most popular banks, and you can apply for a consolidation loan up to € 60,000 .
Although Bank Norwegian has just settled in Finland, it has already gained popularity among consumers in a short time.
The big reason for the sharp rise in popularity is that the bank offers loans at really low interest rates. Applying for the loan itself is also a quick process and it takes place from the beginning to the end of the home.
If you want to combine your loan, we can warmly recommend Bank Norwegian for this purpose!
Read more about Bank Norwegian
The MFI is a popular lending service that allows you to compete with one free application for the best loan from up to 20 loan providers.
You can apply for a consolidation loan through an MFI of EUR 500-70,000 with a 1-15-year payment period.
Since 2001, MFI has been operating in the loan market, so it is a truly reliable service. It also has the largest cooperation network in Finland at the moment, so you can be sure that you will find the most suitable loan offer with your MFI.
Read More About MFI
3. Freedom Finance
Like an MFI, Freedom Finance is a lending service. You can apply for credit through Freedom Finance up to € 60,000 with truly flexible payment times.
Freedom Finance has almost as many partners as MFIs, and its list also includes the traditional Danske Bank .
Applying for a loan Freedom Through Finance, you are always free to get and borrow money from various banks in your email, even during the same day of filing an application.
Read More About Freedom Finance
4. Complete Bank
Komplett Bank is a relatively new loan service on the Finnish loan market and its loan product is Flex Loan up to EUR 50,000 .
Complex Bank differs from other loan combining services so that its loan has no fixed repayment period.
So you can, for example, pay only the interest on the loan every month. The nominal interest rate on the loan is only 4.99%!
Read more about Komplett Bank
Lendo is a really well-known loan service in Finland, which makes it possible to get a loan for a loan very quickly and easily.
You can apply for a loan through Lendo for 500-50,000 euros and you can get a very flexible payment period up to 15 years!
Applying for a loan is free and will not bind you. With one application, you will receive several loan offers that you can choose the one that suits you best.
Consider These When Considering Combining Loans
If you are in a situation where you have to consider combining loans and wanting to get rid of your debts, then before making this decision, you should make another decision that you will no longer borrow more loans after you combine the loans before you survive the former debts.
If you continue to take small loans after combining your loans, you’ll soon find yourself in the same thread as before
Complete your financial situation comprehensively before combining loans, taking into account all your expenses and income so that you can make the most of your situation.
Remember that combining loans does not eliminate the problem but makes it much easier to survive.
Where Can I Get Credit For Combining Loans?
On this site, you can find a loan search from our section for comparisons of nearly 100 loan services. Compare places and find the right solution for your situation.
Since you are combining loans, you will probably need a slightly larger loan.
The above mentioned Bank Norwegian , Freedom Funding and Lendo offer loans up to 70.000 euros and these services also offer a customized service for loan consolidation. We therefore recommend starting a comparison with these loan providers.
Read also: Loan 100-60,000 Euros – Make a free loan comparison
You should also look at foreign loan services . Also through these, it is possible to combine loans sometimes at a really low cost.
Loan Combination in Stone Banking
Combining loans is now the easiest way to get through the net, but you can also negotiate a combination loan with your own bank.
If you succeed here, usually you borrowed interest rates lower than a net loan, but reciprocally the larger loans usually require some kind of guarantee or collateral.
When applying for a bank loan , you also have to visit the bank very often to get a loan.
However, due to increased competition, online borrowed loans are no longer very expensive compared to those of stake banks. For example, Komplett Bank offers a nominal interest rate of 4.99% on its loan.
Linking Loans to Mortgage
This is a question we are often asked about. Unfortunately, however, we cannot give a direct and always correct answer.
Combining loans with a mortgage always depends on your bank and what kind of financial situation you have.
At the moment, the feeling is (2018) that this is not at all very easy. Even a few years ago, banks also admitted such loans with an open hand, but the recent difficult economic situation has put the money into tighter banks.
However, you should inquire about your own bank for a secure answer.
Other Means To Shorten Loans
If you have several small slips or consumer credits on your account, then before applying for a new loan , consider other ways to shorten them before resorting to a new loan.
When you get even a few small slices out at once, your monthly batch will be reduced to the currently tolerable level.
Consider, for example, selling extra property . For example, in huuto.net you can easily trade with some kind of stuff. The traditional flea market is always a good option.
If you own a car and it is not a necessary tool for you, then consider selling it. You can easily get a new car when your economic situation is better.
Combining loans is a must. However, it often requires a change in one’s own consumption habits and more economic planning.
If you are ready for this, combining loans will give you a good way to a debt-free life.
Share Us Your Experience of Combination Loans
Have you applied for a consolidation loan and how did you succeed? Did you manage to save money by combining your loans?
Did you combine all the expensive quickcuts under one more reasonable whole and how much you saved on a monthly basis?
Have you combined a loan from someone on this site through the service mentioned and what kind of experience do you have about it?
Tell us and other people about your experience of combining loans by commenting below.