Loan: How much can I borrow?

Do you go and need extra money and are therefore considering taking out a loan? As more and more loan providers on the Internet emerge, many people choose to take out a loan online. Due to the many possibilities, it can be difficult to find out how much it is possible to borrow on the internet. Read more about online loans on our front page, where you can read more about borrowing money online.


How Much Can I Borrow from Online Loan Providers?

How Much Can I Borrow from Online Loan Providers?

The many loan providers each have a minimum and maximum amount that you can borrow. How much you can borrow from the various online loan providers is therefore very variable. Therefore, which loan provider you choose also depends on how much money you need to borrow. Is it for a new bike, renovation of the house or unforeseen expenses that suddenly appear? Either way, it’s a good idea to start by figuring out how much you need to borrow.

Then you can research and compare the various online loan providers that offer both small loans and large loans. It can be loans ranging from DKK 100 and up to DKK 350,000. The amount of the loan depends only on which provider you choose. How much you can borrow can also depend on your age, your income and expenses and whether this is the first time you borrow a loan. If you are borrowing the first time, there are several loan providers offering the first consumer loan up to a specific amount for free.


How much can I borrow for free?

borrow for free?

Some online loan providers offer that the borrower can take out the first loan for free. However, there is a limit to how much a loan amount can be borrowed for free. For example, it may be the first DKK 4,000 you can borrow for free. However, the size of the amount varies from provider to provider and it is therefore worth investigating where you can borrow the largest amount for free, depending on the amount you need to borrow.

Of course, when a loan is free does not mean that you do not have to repay the loan. On the other hand, this means that you can neglect and pay interest and miscellaneous fees on the loan. Therefore, if we assume that you borrow DKK 4,000, you only have to pay back DKK 4,000. However, it is recommended that you do not borrow more than you need. It is important to remember that the loan must be repaid before the maturity.


Who can borrow money on the Internet?

borrow money on the Internet?

In principle, you must be 18 years of age to take out a loan, be it with the bank or with an online loan provider. However, several providers require you to be older than 18 years. In addition, you can NOT borrow money if registered in RKI or in the Debtor Registry. In addition, the following requirements are often imposed on you as a borrower:

  • You must be a Danish citizen
  • You must have a Danish bank account
  • You must have a valid NemID to sign the loan agreement
  • You need a Danish phone number
  • You must have an active email address
  • You must have a Danish National Register address
  • You must not have address or name protection


Loans according to your age

Loans according to your age

At several of the online loan providers, there may be different requirements for how much you can borrow based on your age. Therefore, it is always a good idea to check before choosing a loan provider. For example, it might look like the following:

  • If you are between 20 years and 24 years, you can borrow between DKK 5,000 and DKK 15,000.
  • If you are between 25 years and 70 years, you can borrow between DKK 5,000 and DKK 20,000.
  • If you are between 71 years and 80 years, you can borrow between DKK 5,000 and DKK 15,000.

The above is just one example of what it might look like for different loan providers. These intervals are set to ensure your financial situation as best as possible. It is always important not just to take out a loan just to get more money between your hands. It should have a purpose and you must be sure that you can repay the loan. Otherwise, it may mean that you are registered in the RKI or the Debtor Register.