1. How do I apply for a Credit Line?
Applying is easy! Just log in to your account and complete your online application. To qualify, you must:
Be 18–70 years old and live in Finland.
Have a bank account in your own name within the EEA.
Provide accurate and up to date personal and financial information.
We’ll check your credit history and financial details before making a decision. Most applications are reviewed automatically, but you can always ask for a manual review, if needed.
2. Can I switch to a Credit Line from another loan?
Yes. If you already have another loan with us, you can switch to Credit Line from your Dashboard. Whether this is possible depends on your repayment history and current creditworthiness.
3. What interest and fees will I pay?
Your Credit Line comes with only two main costs:
Management Fee – 0.01% of your outstanding balance per day (max €150 per year).
Interest – charged daily only on the amount you’ve used.
The following are free of charge:
No setup fee when you open your Credit Line
No fees for making withdrawals
Extra fees may apply if you miss payments, or require reminders.
4. How is the management fee calculated?
The management fee is charged daily on your outstanding balance at 0.01% per day. It’s capped at €150 per year, so you’ll never pay more than that.
5. How is the interest calculated?
Interest is charged daily on the balance you’ve used. It’s based on a 30-day month and 360-day year. The interest rate follows the European Central Bank’s refinancing rate and is reviewed every January and July. Once set, the rate stays the same for six months at a time.
6. How does the Credit Line work?
Think of it as flexible credit:
You can withdraw money whenever you need, up to your approved limit, at no charge.
As you repay, your available balance will be restored and is reusable to the same extent.
There’s no fixed end date – your Credit Line stays open until you, or we close it.
7. How do I withdraw money from my Credit Line?
Simply log in to your account and request a withdrawal. The funds will be sent directly to your registered bank account. Please note: withdrawals may be paused if payments are overdue or when we have identified negative changes in your creditworthiness.
8. How do I repay my Credit Line?
You’ll make monthly repayments according to your Payment Schedule. Each instalment covers:
Part of the principal
Interest
Fees (like the management fee)
You can also repay early at no extra cost. In that case, you’ll only pay interest up to the repayment date.
9. What happens if I miss a payment?
If you don’t pay on time:
Default interest will be added (at least your normal interest rate, or up to 7% higher than the reference rate).
You may be charged reminder or collection fees.
If payments remain overdue, we may report the delay to credit registers, which can affect your credit score.
In case of repeated payment default, we can demand full repayment of your loan.