Scandinavian Banks Offer Loans With Zero Collaterals

If you would like to get a loan with no credit, you better be in Norway. That will give you the chance to access such financial means that will improve your life once and for all.

When living in Norway or being a Norwegian citizen, you are entitled to the best loans in the market. That happens because of the positive current account surplus of the country, mostly grace to the oil exports. Today we will know more about this trend of the easy loans that have flooded the Norwegian market with tons of liquidity that is able to give people the right to new jobs and further spike the economic cycles.

State-Funded Banks

First, you need to know that most commercial banks in Norway are state-funded. That means they regularly receive funds in terms of bonds and direct payments from the government to ensure that new personal loans are approved for Norwegian citizens. It’s a trend that happens across the whole Scandinavian area and offers a great level of financial freedom to all people living there. 

These banks are posing very loose criteria to give a loan to a certain person, no matter their assets and credit history. That is why the state-funded banks are there to support the whole economy and change the economic climate overnight.

Give You More Now Estimating Your Future Earnings

If you are in Norway, it’s easier to apply for a new loan and get more now for payments in the future. For Norwegians, it’s easy to plan their future since the generation fund that bases its existence on oil exports is one of the richest in the world. For that reason, citizens have the right to spend now and pay later when the bill finally comes. It’s easier to plan your life when you can live happily when you are young and be forced to pay back the loans when you receive your state pension or other income later in your life cycle.

Improve Your Credit Score As You Go

Banks also help you improve your credit score after receiving your first loan. There are many banks that offer credit report courses to ensure their customers understand what the system is about. People always like to know more about money and economics in a simple and structured way. The most secure option would be to improve the credit score as you go since you gather more information about cash flow and your job that may differ from the ones you knew when you first applied for this loan. 

Offer You Valuable Information Through Websites

Websites are the third pillar of the Scandinavian economic miracle. They educate people about loans and bring them closer to the banks. People believe that without the liaison with the banks that these websites offer, it’s a lot more complicated to ask for a loan in Norway. Today you can have a full credit report from these sites and even track your financial history through the years. 

People always like to have a mentor by their side to ensure they know more about the current financial situation and ask for the right loan amount when they have the time. It’s easier and more passionate to follow a website than to look at each bank branch separately.

Thanks For Reading 
More Read On Forbes Magazine