LOANS AND FINANCES
See the full cost.
Make an informed decision.
A loan offer has several parts. Compare offers using the same amount and repayment term.
What should you compare?
Annual percentage rate (APR)
The annual percentage rate (APR) expresses interest and fees as a yearly percentage. Also check the assumptions behind the offer.
Total repayment and loan term
A lower monthly payment may mean repaying the debt over a longer period. Look at the total you will pay, as well as next month's payment.
Fees and conditions
Check which fees are included, whether the interest rate can change and the conditions for making extra payments.
Before considering a new loan
- What will the loan cover, and are there alternatives to borrowing?
- Does your budget allow for unexpected expenses?
- How would refinancing change the repayment term and total cost?
- Do you understand all the costs and conditions in the offer?
This is general information, not a personal recommendation or a loan offer.
Source for the cost terminology: The Norwegian Consumer Council's consumer loan checklist.