Quick loans in Denmark

How to take on a quick loan in Denmark.

Loan money Denmark

In Denmark you have different options when you need to take on a loan. You can go to your bank but here you can only take on a secured loan – and only if you live up to their demands, which typically will be a high fixed income. Do you prefer an unsecured loan, you can apply at the private loan companies in Denmark. Here, the demands are not very high, and most people can take on a loan between 500 and 400.000 kroner.

  • Almost everyone can take on a fast loan in Denmark
  • You can apply for a loan between 500 and 400.000 kr.
  • You apply using your Nem-ID

Private loan Denmark

Compared to many other countries it is surprisingly easy to take on a private loan in Denmark. You just need access to the internet and your Nem-ID. Typically, it takes just a few minutes to apply and a few hours to get the answer on the application. If you are approved (which most people are) you will receive the loan amount in your account within a day or two depending on the loan company.

Short term loan in Denmark

When choosing which loan to apply for, typically you can choose between long term and short term loans. The short term loan is a loan you need to pay off within short time, for example a month or two. You can often find those loans very cheap and even free if you are a new customer at the loan company. If you are looking for a short term loan, the options are many. To compare and find the cheapest loan, you should look at “ÅOP”, which is the annual expenses in percent. Overall, the loan with the lowest ÅOP is the cheapest loan.

Student loan Denmark

Every year many students apply for loans. Even though you get SU when studying in Denmark, the economy is tight when having to pay rent, byt food, study books, etc. When attending an approved education, you can take on a SU loan to supply your SU. You do not need to start paying off the loan until your education is over. If sometimes the economy is still tight despite the SU loan, you can also as a student take on a fast loan. But be aware that you will have to find the money to paying off the loan in a short time.

Fast loan Denmark – be realistic

If you consider applying for a loan you need to be realistic. In Denmark it has consequences if you default on your loan agreement. First, the loan company is in its right to attach interest and fees to the loan so that the expenses in connection with the loan increase. But second, if you continue not to pay off the loan, you will be registered in RKI (register for bad payers) and it can be almost impossible to take on a loan later on (especially in the bank). So be realistic when applying for a loan. You must afford to paying it off.