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Good Finance offers an unsecured loan of EUR 5,000 – 50,000. At best, the loan period is 12 years. No collateral or guarantees are required to apply for a loan. You can easily apply for a loan at Good Finance’s online bank or at Good Finance’s customer service point. Good Finance’s customer service points can be found in connection with the largest S-Grupp stores, so you can apply for a loan even if you are traveling. In addition, you can apply for a loan by calling Good Finance’s telephone service.
Applying for a loan
Good Finance also makes it possible to apply for a loan together with another person, which ensures a more secure loan. During the application processing process, Good Finance may request attachments to the credit application. By signing the application, the applicant agrees that the bank may obtain the applicant’s credit and other information necessary for the credit and customer relationship. The loan application is processed approximately two weeks after the loan application is received. An approved credit decision will be sent to the mailing address you provided. The loan granted will be paid into the Good Finance account indicated by the customer after the approved credit decision. A declined credit decision will be sent to the customer’s mailing address. The bank is not obligated to justify its credit decision.
You can apply for an Good Finance loan when you are at least 25 years old, have managed your finances properly and have no defaults. In addition, you must have a Finnish personal identification number and be permanently resident in Finland. The regular income from work or pensions must be at least € 24,000 per year. You will also need an S-Account or access to an account with Good Finance to apply for a loan.
Cost of the loan
The pricing of S-Loan varies depending on the loan amount. The interest rate on the EUR 5,000-10,000 loan is 9.67 percentage points, the interest rate on the EUR 10,001-15,000 loan is 8.67 percentage points, and the interest rate on the EUR 15,001-20,000 loan is 7.67 percentage points. The interest rate for the EUR 20,0001-40,000 loan is 5.67 percentage points and the interest rate for the EUR 40,0001- $ 50,000 loan is 4.67%. You will also be charged a monthly account fee of EUR 7.
Repayment of the loan
The repayment date for an S-Loan may be the 15th or the last day of the month. If the monthly payment is not a business day, the monthly payment will fall due on the following banking day. A maximum of 144 months can be obtained from Good Finance. The loan will be repaid in agreed installments, which include interest on outstanding capital, credit management fees and any other fees and commissions associated with the management of the credit relationship. The monthly installment shall be set off against interest and any fees and charges before repayment. Any change to the agreed payment plan at the time of granting the credit must be agreed in writing with the bank. If the debtor fails to pay his payment obligations on the due date, Good Finance has the right to charge a processing reminder of EUR 5 as a processing fee. In addition, if the monthly installments, commissions and fees are not paid to the Bank by the due date, the Bank shall be entitled, inter alia, to collect interest for late payment, to immediately repay the credit, to take recovery action and to report any default on the credit agreement. The debtor may have to pay the costs of recovering the credit.
The maturity date of the credit invoice cannot be changed during the loan period, but the loan can be repaid earlier. The excess of the monthly installment under the contract will reduce the principal of the credit and will not relieve you of future unpaid monthly installments on their contractual due dates. The loan application can be withdrawn within 14 days of receipt of the credit decision.
Amendments to the credit agreement
Good Finance shall have the right to change the agreed fees and charges due to the general increase in the price level or the increase in costs or for other justified reasons. The Bank shall also have the right to increase the interest rate on the debt, if required to maintain the Bank’s liquidity or solvency at a sufficient level. Changes will be notified in writing or digitally, if agreed. The Bank shall have the right to change the terms of the credit by notifying the debtor in writing of such changes when the change does not increase the debtor’s obligations or limit or diminish the debtor’s rights, or as a result of new law. The debtor has the right to terminate the loan immediately, without any charges for early repayment of the credit, and even during the interest period if the bank increases the interest rate on the debt to maintain liquidity or solvency.