Frequently Asked Questions

Applying for a loan

How do I apply for a loan?

You can apply for a loan at https://www.omalaina.fi/. The application process is straightforward and does not commit you to anything. After you complete the application, we will send it to various banks and lenders for review. If banks and lenders wish to offer you a loan, you’ll receive loan offers that you can view in the OmaTili service.

Does it cost anything to apply for a loan?

No, it does not. Filling out and submitting a loan application is completely free. Submitting an application does not obligate you to accept any offers. If you receive loan offers, you can decide whether or not you want to proceed with a loan.

How much can I borrow?

Through Omalaina, you can apply for loans between 500 € and 60 000 €. The amount you may receive depends on several factors, such as your existing debts, type of employment, monthly income, and expenses.

How long can my repayment period be?

You can choose a loan term from 1 to 20 years. The length of the loan depends on the size of the loan and your ability to pay it back.

Why didn’t I get a loan?

There are many reasons why a loan application might be declined. Your application may be rejected if the bank feels your ability to repay isn’t strong enough, your credit information is not in order, or if you could not provide the required documents. Please note that Omalaina does not grant loans ourselves, nor can we influence loan approval decisions.

Can I get a loan if I am unemployed?

Each lender assesses your situation individually, regardless of your employment status. However, not all banks and lenders will provide a loan without a regular income, so having a steady income source improves your chances. Other aspects, such as prior debts, also affect the decision.

Can I apply for a loan if I receive benefits and I’m retired or a student?

Yes, you can. Students and pensioners may apply, and any benefits can be listed as income in the application. You can also enter “student” or “pensioner” in the “employer” field on the application.

Can I apply for a loan if I have a payment default entry?

Unsecured loans are generally not granted if you have a payment default on your credit record. However, you may still choose to submit an application if you wish. Your credit information is always checked during the application process.

You can check your own information in the positive credit register, where you can also make a voluntary credit ban for yourself if you wish.

Can I apply for a loan together with someone else?

Yes. Adding a co-applicant to your application usually increases your chances of obtaining a loan. In this case, you can select the “Co-applicant” option in the application and fill in their details as well.

Are collateral or guarantors needed for the loan?

No collateral or guarantor is required to apply for a loan.

Can I apply for a loan if I live abroad?

To apply for a loan, you need to have a permanent address in Finland, a Finnish personal identity number, and a Finnish bank account. If you have these, you can apply for a loan even while residing abroad.

Payment of the loan

I have applied for a loan. When will the money appear in my account?

Depending on the bank or lender, the money usually appears in your account within a few hours to a couple of days. Typically, the smaller the loan amount, the quicker the transfer. Loans are paid out only between 7:00 and 23:00 as per legal regulations. If you apply late at night, you likely won’t receive the funds on the same day.

I accepted a loan offer, but the money hasn’t arrived. Why?

The speed of transfer depends on the bank or lender from which you accepted the loan. The money should appear in your account within a couple of business days. Please keep in mind that loans are only processed during banks’ opening hours. If the funds do not appear within two business days after signing the agreement, contact the bank or lender directly.

The loan offer I received is too small / too large / does not match the amount I applied for

Unfortunately, we cannot influence banks’ or lenders’ decisions on the loan amount offered. Sometimes, the offer is for a smaller or larger amount than you requested, based on the lender’s assessment of your repayment ability and financial situation.

What does preliminary approval mean?

After submitting your application, a bank may grant you preliminary approval. This means that they may need additional information from you, such as proof of income. Preliminary approval can still be withdrawn by the bank without notice. If your application changes from preliminary to final approval, you will have the opportunity to review and sign the loan agreement.

When will I get a final loan offer?

It can take from a few hours to a few days for a bank or lender to make a final decision. The decision time depends on the bank and the loan amount. For example, a decision for a 2 000 € loan usually arrives faster than one for 20 000 €.

How do I see which loan offers I’ve received?

By logging into OmaTili, you can see all your loan offers and review them at your leisure. You can also accept and sign a loan offer through OmaTili. If you wish to cancel your application, you can do so by calling our customer service.

I already received a loan. Why am I still receiving loan offers?

If you still have an open loan application, you may continue to receive email notifications about available loan offers.

Electronic identification

Do I need to authenticate electronically to fill out the loan application?

No, you do not. You do not need to verify your identity electronically until you accept a loan offer. At that point, identification will take place through your chosen lender’s service.

I want to accept a loan offer. How do I authenticate?

You will need your online banking credentials or mobile certificate for electronic identification. You can obtain banking credentials from your bank and a mobile certificate from your mobile service provider.

Electronic authentication failed or the authentication link does not work. What should I do?

If electronic identification does not work, please contact the bank or lender whose offer you are accepting. They may be experiencing technical issues, or the link may have expired. Their customer service can provide a new link if needed.

OmaTili

Where can I find my OmaTili password?

The password has been sent to your email if you completed your loan application on the Omalaina website. If you have forgotten your OmaTili password, you can order a new one using the link provided. Strong identification is required to use OmaTili.

My OmaTili password does not work

Please check that you have entered your password correctly, with no spaces at the beginning or end. If you are still unable to access your account, you can request a new password via our website.

How do I activate OmaTili?

All new customers receive login instructions by email. Follow these instructions to activate your account. If you are an existing customer and cannot remember your login details, you can order a new password on our website.