Norwegian banks that support English-speaking customers
Taking up a loan is a very popular way for Norwegian consumers to improve their spending power.
It is very common for households to have at least one credit card. This is used to pay for a wide range of services and goods. In Norway, very few customers use cash to pay for their purchases.
Consumer loans are also very popular in Norway. This is a loan that is unsecured, and gives the loan taker the opportunity to pay for whatever he or she wants. This is in contrast to a loan you take up to finance a specific purchase, such as real estate or a car.
If you live in Norway, have a steady income and are registered in the Norwegian “Folkeregisteret,” you can enjoy all the benefits credit cards, consumer loans and other financial products offer. You do not have to speak Norwegian to take up a loan in a Norwegian bank!
What type of loans do Norwegian banks offer?
You can establish a wide range of different loans with Norwegian banks. On our website, we are mostly concerned with credit cards and consumer loans, and these are the topics we offer expert advice on. Of course, you can get a mortgage with a large number of Norwegian banks, but this is not the sort of financing we specialise in.
Something you will find in most Norwegian wallets is a credit card. A credit card offers a wide range of benefits. Most consumers will find a credit card that will be of benefit to them.
A credit card gives you instant access to financing. Each card has a monthly maximum amount that you can spend. This can be anything up to several tens of thousands of kroner. Usually you will not incur any interests if you pay your credit card bill within 1 month. Some banks offer even longer interest free periods.
A credit card can also offer other benefits such as cheaper fuel at certain filling stations, and so on. Having a credit card that you always pay on time – or never use – can be a smart way of improving your credit rating.
Unsecured consumer loans
Consumer loans are extremely popular in Norway. They can be used for whatever you want. Many Norwegian customers take up unsecured consumer loans to pay for vacations, unexpected expenses such as bills or repairs, and expensive purchases like electronics or bicycles.
There are many different kinds of unsecured consumer loans on offer. Some Norwegian banks will let you borrow as little as 3000 kr or even less. Some offer unsecured loans worth up to 500 000 kr. There is a loan that’s right for you, regardless of your circumstances.
What kind of credit check does the bank do?
When you apply for a loan in a Norwegian bank, you will be asked to supply certain personal details. This will include your date of birth and your Norwegian social security number (“personnummer”). You cannot borrow money in a Norwegian bank without this number.
The bank will then use this information to search for any unpaid or defaulted debt in your name. If you have failed to repay a loan previously, they will most likely refuse your application.
The bank will also check your income and general credit worthiness. The specific loan conditions you are offered will be based on these searches.
Which Norwegian bank is the best?
This is a tricky question to answer because it depends on your personal circumstances. If you require a big loan, you will not consider a bank that only offers loans of 10 000 kr or less to be very good. If, on the other hand, you only need 3000 kr to pay your phone bill, you will not be interested in banks that only offer major loans for major investments.
One thing we can say for certain, though, is that all the banks you find links to on this site are 100 % reliable and trustworthy. They are well established organizations that each have thousands of satisfied customers.
We only recommend banks that offer excellent customer service and allow you to take up loans via their website. Many of them offer English language service and application procedures.
How the loan comparer works
The first step towards establishing an unsecured consumer loan with a Norwegian bank is to use an online loan comparer. You will find one here on our site. We strongly recommend that you use it to get started if you are considering taking up a loan!
It is a very helpful tool that is easy to use. You simply specify how much you would like to borrow, and over how many months you would like to repay your loan. The comparer will instantly offer you an estimate, based on your preferences.
Once you find the right balance between loan amount and time frame, you can apply for a loan with just a click of a button! You will then receive competitive quotes from a number of banks. This will enable you to compare a number of offers. You are under no obligation to accept any of these offers.