Loans

With a fixed-rate loan, you lock in the interest rate on your loan for a period of three, five or ten years. During this period, the bank cannot change the interest rate on your loan, giving you highly predictable finances. Historically, fixing the interest rate has not been profitable – but it can be seen as insurance against higher interest rates. You can choose a fixed rate on part of your home loan, but you cannot fix the rate on more than 75 per cent of the property's value.

Read more about fixed-rate loans

A Credit cardGives you, as the name suggests, the opportunity to pay on credit – that is, with borrowed money. If you use it correctly, it has many advantages, such as free travel insurance and payment deferral, which provides peace of mind when shopping online, for example. In addition, you receive a range of discount and bonus schemes.

However, if you do not pay back within the interest-free credit period – which is up to 45 days with Mastercard from DNB – interest will start to accrue. Therefore, you should always pay back what you owe on the credit card as quickly as you can.

The vast majority of students in Norway have student loans from Lånekassen – which differs from bank loans because part of the loan is converted into a grant when you pass your education. The loan is interest-free while you are studying, and it is the loan with the lowest interest rate even after you finish your education. You can also get payment deferral, and have interest rates or debt written off in certain situations. This means you should prioritise paying off other loans before your student loan.

A consumer loan is an unsecured loan. This means that the bank does not receive security in your assets if the loan is not repaid as agreed. The price for this freedom is a higher interest rate than other loans. You should therefore prioritise repaying your consumer loan quickly. The faster the loan is repaid, the cheaper the loan becomes. We also recommend that you only use consumer loans for absolutely necessary expenses.

The term small loan is often used for Consumer loans up to NOK 50 000. If you have several small loans or credit card debt, you can save a lot by consolidating and refinancing the debt into one consumer loan. You will also gain far better control.

There are dedicated loan products for you who need to buy a car, motorcycle, boat, motorhome or caravan. The different loan types have somewhat different equity requirements and different interest rate levels.

If you are under 34 years old, DNB has particularly favourable terms on car loans. The same applies if you need to buy a zero-emission vehicle.

Read more about car loans

With a serial loan, the repayment portion – that is, the amount you pay down on the loan itself – remains the same throughout. However, because the loan decreases, the interest portion will become lower each month. This means that what you pay each month will decrease as the debt becomes smaller.