2020 is a good year in the loan market for both loan providers and borrowers. Every year, more and more providers of new loans come, and so does 2020. What does that mean for you?
For you as a borrower, this means lower prices. The more providers of new loans that come on the market, the tougher the competition and the more offers you can expect as a customer.
Read more here about what’s new in the loan market in 2020, where we review, new loan providers and the development of the banks.
New loan providers in 2020
Every year, there are some online loan providers who change their name, get acquired or shut down. At the same time, there are always more people entering the loan market, so you can try out new products.
This year, there are around 60 online loan providers that are active in Denmark and can offer new loans in 2020.
If you apply for new loans in 2020, you will see that the loan providers are lowering prices and designing more modern loans with more flexibility.
Several have dropped fees, so only interest is paid on their new loans. Others have lowered interest rates to attract more customers in the new year.
Unfortunately, four loan providers have closed down, but a few start-up banks have started offering new loans in 2020.
In addition, there has been some development on the banks front. What is it?
Several bank loans have gone online
When it comes to new loans in 2020, you now have the opportunity to borrow online from the largest banks in Denmark.
You no longer have to go to the bank and talk to a bank advisor to take out new loans in 2020, as long as these are smaller consumer loans. The online application system has become widespread and now your bank can most likely offer you to borrow online.
The traditional bank loans have been modernized and work just like other online loans. This does not mean that you can get the money paid out quickly – not in all cases – but you no longer have to show up with a lot of papers and talk to a bank advisor as long as it is about smaller consumer loans.
Need to spend the money quickly? Take a look at Loan and Credit’s loans and join the many happy customers with us.
New loan types in 2020
In 2020, there is no big news about loan types, but Loan and Credit continue to be at the forefront of developing new features that make our loans easy to use.
Loan and Credit offer loans with exceptional flexibility and ease of use that are difficult to find elsewhere. In addition to quickly raising new loans and getting the money in the account, a loan from Loan and Credit gives you a lot of freedom under responsibility when it comes to repayment.
If you take out a loan from Loan and Credit, you can
- Increase your loan amount if it is below 25,000
- Postpone the installments and extend the maturity
- Make extra payments at no extra cost
- Shorten the term of the loan and save interest
- Redeem your loan whenever you want – for free
With a loan from Loan and Credit, you have the flexibility and freedom to decide for yourself. We have always shown confidence in our customers through our loan policy and openness to flexible, pillow-managed repayment. It is a great pleasure for both you and us. In 2020, therefore, we will continue with our loan policy and continue to develop our new loan with more user-friendly features.