Here on the site, we would like to help young people and students to borrow money for what they need. If you are young and you are considering taking out a loan, you should read here. We give you good advice on how to get the best deal.
At the same time, we help you compare several different companies, so you can easily search for the companies you want. We hope we can help you find the right loan for you as a youth.
Remember to check that you meet the age requirement before applying.
Online loans for youth during study
To be able to take out a loan online, there are a few requirements that must be met. One of these requirements is, that you must have a certain age. Most companies are 20 – 21 years old. Note that it may be higher for some companies, but it is therefore easy to find a company that offers eg. consumer loans for young people during study.
In addition to this, you must be a Norwegian citizen, and with some there is a requirement that you have lived in Norway for a certain number of years. It is common practice that the company does a credit check of you. This should ensure that you do not have any active collection cases or payment notes. Unfortunately, if you have this, it is not possible to borrow.
Last but not least, most companies require that you have a fixed income. This is usually quite low, and is worth many people at USD 200,000 a year. However, for some companies the limit is as low as USD 120,000 a year. This is again something that varies between companies, so it is your job to find a company where you can meet all the requirements. But as you can see here, it’s not that difficult.
See who can help students
When choosing your company it is very important that you compare several offers. Submitting an application is completely free and without obligation, so you should do this with as many people as possible. The more offers you get, the more opportunity you have to make the right and cheapest choice for you. And with our help, this has become even easier.
We have compiled an overview for you of companies that offer loans to young people during your studies. In this overview you will find a number of relevant companies for you, and you can even search for those you want. It really doesn’t get any easier. So now you have no excuse not to search several different ones.
Reply and offer back
Once you have submitted your application (which you easily pass on the company’s website), you will receive a reply back. The company often responds shortly with your loan offer. Here you will then sit down and compare the different offers you have received. Of course, there are a number of factors you can look at, but a good start is the effective interest rate.
The effective interest rate is an interest rate, which includes both the actual interest rate on the loan as well as all other costs and fees involved. This will give you a good picture of what the loan will actually cost you. Since it is compulsory to state this on the offer, it becomes incredibly easy for you to compare the different companies. This is how you can see which offer is the cheapest.
See who can meet your needs
Next, of course, you need to look at who can meet your other needs and desires. It may be in terms of requirements and terms, possible amounts and downtime, or perhaps service or similar. It is up to you to choose, and in the end it is probably your gut feeling that determines it. But if this is combined with a well thought out decision, then it probably isn’t too bad either.
So see our overview here on the site and find the different companies. Once you have received your money, you can of course use it for exactly what you need. We hope this has helped you along the way and provided you with a better understanding of student consumer loans. Now you can start the hunt for the best and cheapest loan for you.
Note that you cannot be sure of finding the best loan on the site, as there may be other cheaper online loan options.