Consumer loans

Consumer loans are often called unsecured loans. That means that you don’t have to provide assets as collateral or any form of security as you often do when applying for a mortgage. Many also apply for a consumer loan in order to combine and pay off smaller loans as for example credit card loans where the interest is higher than a consumer loan.

EnterCard offer consumer loans through our own brand Re:member and in collaboration with our partners. For more information visit our product pages.

EnterCard strives to be a responsible lender. It is important for us that each customer has the ability to borrow money in a responsible fashion and therefore we have several criteria’s that must be met in order to borrow money. We recommend everyone to look through their personal finances before applying for a loan. It is important that you don’t borrow more than you can handle and that you obey the down payment rules.

Credit check

In order to apply for a consumer loan at EnterCard you have to provide an overview of your finances as well as a proposed borrowing amount and what the money will be used for. Before your application is accepted we check that you don’t have any payments marks and we run a credit check. In order for EnterCard to give you a responsible loan it is important that you provide us with all your financial commitments.

How much can you borrow?

The amount that you can borrow depends on your financial situation. We accept loan applications between 10 000 – 350 000 NOK. However, you should not borrow more than you can handle. Also remember that you must follow the down payment guidelines.

Down payment

The down payment time for consumer loans is shorter than that of other loans, such as a mortgage loan. The most common down payment plan is between 1-15 years depending on the amount borrowed and the borrowers’ financial situation. You can of course pay back more per month than what the down payment plan states and you can at any time pay back the total amount, without an extra cost.

Higher Interest

Since you don’t have to put down any collateral for a consumer loan, the risk for the lender is much higher. As a result the interest on a consumer loan in higher than that of other loans. The normal accruing interest varies from 9-20 percent per year.

How much does it cost?

It is important to be aware of the cost of having a consumer loan. Similar to all the services and products you use, you should be aware of the terms and references. Especially important is to know the amount you have to pay back every month. In order for you to stay informed about this we have created a loan calculator which will show you how much you have to pay each month depending on the amount you borrowed. These are available to use on our various product pages.

Down payment Plan

All customers receive an overview of the amount they can borrow based on their financial background and situation. We also provide an overview of the costs connected to the loan and your down payment plan. It is important that you look through the down payment plan thoroughly so that you are certain you can afford to pay back on your loan every month.

Follow-up routines

After your loan application has been approved, you have to follow the down payment plan and pay accordingly. If you experience any issues making the payments don’t hesitate to contact our customer service center. We have thorough follow up routines which will be followed in these situations