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Three cases where consumer loans can be useful



Are you unsure whether it is worthwhile to apply for a consumer loan? In this article, you can read about the three best reasons why a consumer loan can be a good option.

Not everyone can benefit from a consumer loan, but if you are realistic and use the consumer loan correctly, it can be worth its weight in gold for you.

Three good reasons why you should take out a consumer loan:
A consumer loan gives you extra financial freedom to buy something you've wanted for a long time.
- The money comes straight into your account, after a quick application process.
- You get the opportunity to choose a flexible repayment period, so that you choose a little more freely how you want to pay off the loan.


1. Extra financial freedom with consumer loans

Of the many reasons why it can be smart to take out a consumer loan, the extra financial freedom is one of the very best reasons. You can then use the money as you wish, as the bank does not decide what the money will be used for.

The consumer loan you take out gives you the extra capital to buy something that you might not have been able to afford otherwise. This could be, for example, large unexpected expenses, nice holidays, or other dreams.

Many also choose this form of loan to renovate their own home. This can be financially smart as a renovation increases the home's value. When it comes to nice holidays, these are investments that provide good memories that last a lifetime.

Sometimes unexpected expenses can pile up in a short time. Many have probably experienced that the car has to go to the workshop at the same time as the fridge or dishwasher has gone on strike. In such a situation, it can be difficult to pay such large bills at one and the same time.

With a consumer loan, you get the opportunity to pay everything then and there without asking for help from friends or family.

2. Get the money straight into your account

Another good reason to apply for a consumer loan is that you get the money straight into your account. When you send off your application for a consumer loan, you can usually get the money paid out very quickly, at best the same day you applied.

You may be wondering how it is possible that the loan process goes so quickly? It is not the case that the banks lend the money to anyone, you have to provide a tidy economy to get a loan without collateral, after all.

The loan process is fast and flexible because it is a consumer loan which is an unsecured loan, where you as the borrower do not have to provide assets as collateral to get the money paid out.

3. Flexible repayment period

To find the best consumer loan for you, the loan should cover most of your needs. With a consumer loan with flexible repayment, you are therefore much freer to decide how you want to pay off the loan yourself. While others may prefer a fixed down payment plan.

With some banks and providers, you can actually get both, i.e. a flexible consumer loan, but with a fixed repayment plan. In this way, you decide on the repayment yourself, as long as you are always within the fixed plan, and pay the minimum amount every month. This way you can pay more or repay the entire loan without paying extra for this in costs.

With a repayment plan, in other words, you can always keep control of your finances.

When you apply for a consumer loan, the bank you apply to will carry out a credit check on you. This check lays the basis for the interest you get on the loan. The credit rating also determines how much money you can borrow without collateral.


In this article you have read about 3 good reasons for applying for a consumer loan, but do you know which reason is your best reason for applying for a consumer loan? At the comparison service Lå you will find an overview of many of the best banks on the Norwegian market.

By clicking on each individual bank, you can see which terms are offered, and how their consumer loan can suit you and your needs.

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