Debt Consolidation Loan up to 70 000€ – Simplify Your Finances

Looking to simplify your loan payments? With Omalaina, you can explore consolidation loan options up to €70,000 without collateral or guarantors. Let us help you compare competitive offers that might help make your finances more manageable.

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Apply for an unsecured loan of up to 70 000 euros

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The interest rate varies and is set individually. For an annuity loan of SEK 20 000 with a repayment time of 15 years , a nominal interest rate of % and SEK 0 in set-up / dispatch fee, the effective interest rate will be %. Total amount to pay: SEK . Monthly cost: SEK divided into payment occasions. Updated 2020-09-09. Omalaina collaborates with 40 creditors. Your application will be sent to the creditors who best match your profile. Repayment time 1-20 years. Maximum interest rate is 21,99%. Interest rate spread between: 4,50% - 21,99% (Updated August 2025).

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Understanding How Loan Consolidation Works

Loan consolidation involves combining multiple loans and debts into a single, larger loan. This approach can simplify your financial life – instead of juggling several payment dates and amounts, you’ll have just one monthly payment to remember.

Many people find consolidation helpful when managing multiple loans becomes overwhelming or when various interest rates and fees add up to substantial monthly costs. By bringing everything together, you can get a clearer picture of your finances and potentially reduce your overall monthly payments.

The amount you might save depends on your current loan terms and the consolidation offer you receive – every situation is unique, and we’re here to help you explore your options.

Finding the Right Consolidation Loan for You

Since a consolidation loan is typically a significant financial commitment, taking time to compare different options makes good sense. Through Omalaina’s straightforward application process, you can indicate your current loan amounts and your interest in consolidation, and we’ll help connect you with suitable lenders.

Important to consider: Before consolidating, it’s worth reviewing your current loans’ interest rates, remaining payment periods, and any special terms. This helps ensure consolidation is the right choice for your situation.

Remember: The more favorable your consolidation loan terms, the more you could potentially save each month.

Potential Benefits of Consolidation

Reduced monthly payments – One payment instead of managing multiple loans
Simplified budgeting – A single due date makes financial planning easier
Possible interest savings – Better terms could mean lower overall costs

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Apply for a loan at competitive rates. You’ll receive your first loan offers just moments after submitting your application. See if we can help you reduce your loan costs!

Important considerations when consolidating debts

While debt consolidation can offer real benefits, it’s important to understand all aspects before deciding. Sometimes, extending the repayment period might mean paying more in total interest over time, even with lower monthly payments.

Additionally, consolidation loan rates vary based on your circumstances. In some cases, certain existing loans might have better rates than what’s available through consolidation. Some consolidation options might also require a guarantor, which could affect your eligibility.

We encourage you to carefully compare all terms and consider how different options align with your financial goals and situation.

Guidance from the Finnish Competition and Consumer Authority

The Finnish Competition and Consumer Authority notes that if you cannot manage the repayments of several smaller debts at the same time, one possible solution is debt consolidation. This means taking out a single bank loan or consumer credit to pay off your existing debts in one lump sum.

This can make it easier to keep up with payments and may allow you to lengthen the repayment period and reduce your monthly costs, provided the new loan terms are suitable for your situation. (KKV - Payment arrangements)

When consolidation makes sense

High-interest small loans often benefit most from consolidation. By combining these into a single loan with better terms, you might significantly reduce your recurring costs.

Working with one lender instead of several can also make communication simpler and financial management more straightforward. Many of our customers appreciate having a single point of contact for their loan needs.

If you’re considering consolidation, we’re here to help you explore whether it’s the right step for your financial journey.

How loan consolidation can help manage costs

When you’re managing multiple loans, you’re often paying separate account fees, various interest rates, and other charges for each one. Consolidation can help streamline these costs – with just one loan, you’ll have one set of fees and one interest rate to manage.

A consolidation loan creates new terms tailored to your current needs, potentially making repayment more comfortable and reducing those extra fees that can add up with multiple loans.

Your path to loan consolidation

Complete Omalaina’s simple application form
Select ”I want to consolidate loans” option
Enter the total amount you’d like to consolidate
Submit your application to receive personalized offers
Review your options – lenders may handle the consolidation for you, or you can manage it yourself

With Omalaina, one application connects you with multiple lenders who offer consolidation loans. You’ll receive offers based on your specific situation, giving you options to choose from. The consolidation process itself typically takes just a few business days once you’ve selected an offer.

We’re here to make exploring your consolidation options as straightforward as possible.

Frequently asked questions

Who can apply for a debt consolidation loan through Omalaina?

To apply for a consolidation loan up to 70 000 €, you need to be at least 18 years old and a permanent resident of Finland. Your eligibility for specific loan offers depends on factors like your income, existing debts, and credit history. Through Omalaina's service, you can submit one application that reaches multiple lenders, each with their own criteria. This means even if one lender can't help, another might have an offer that suits your situation. The application itself is free and doesn't commit you to anything – you can review all offers before making a decision.

How much could I save with a debt consolidation loan?

Your potential savings depend on several factors, including your current loans' interest rates and terms compared to the consolidation loan offer you receive. For example, if you're currently paying 15-20% interest on multiple small loans, consolidating them into one loan at 8-12% could reduce your monthly payments significantly. Beyond interest savings, you'll also eliminate duplicate fees – instead of paying account management fees for multiple loans, you'll have just one. However, it's important to look at the full picture: sometimes a longer repayment period might mean lower monthly payments but higher total costs over time. We always recommend comparing the total cost of your current loans with any consolidation offer before deciding.

How does the consolidation loan process work at Omalaina?

Getting started is straightforward. First, fill out our online application, which takes about 5 minutes. Make sure to check the "I want to consolidate loans" box and enter the total amount of your existing loans. Once submitted, your application goes to multiple lenders who offer consolidation loans. You'll typically receive loan decisions within minutes to a few hours. If approved, you can review and compare different offers. Some lenders handle the consolidation process for you by paying off your existing loans directly, while others transfer the funds to you so you can manage the payoffs yourself. The entire process, from application to receiving funds, usually takes 1-3 business days.

What types of loans can I consolidate through Omalaina?

You can typically consolidate most types of unsecured consumer loans, including credit card debts, small consumer loans, quick loans, and personal loans. The consolidation loan can combine multiple debts up to a total of 70 000 €. Some loans might not be suitable for consolidation, such as secured loans (like mortgages or car loans with special terms) or student loans with favorable interest rates. When you apply, you'll indicate the total amount you want to consolidate, and lenders will assess whether they can offer you suitable terms. Remember, consolidation works best when it helps simplify your finances and potentially reduces your costs – it's not always the right solution for every situation.

Riku Laine

Updated: 2026-07-08

Riku työskentelee Rahalaitoksen SEO-asiantuntijana ja talouskirjoittajana. Hän on erikoistunut pankki- ja rahoitusalan sisältöihin ja on kirjoittanut aiheista vuodesta 2018 lähtien. Yhdessä sisällöntuotantotiimimme kanssa hän auttaa kävijöitämme tekemään perusteltuja ja harkittuja talouspäätöksiä.