Frequently asked questions

Here you will find answers to frequently asked questions regarding loan application, loan comparison and Sortter. If you cannot find an answer to your question below, please contact our customer service (note that customer service is in Finnish).

Sortter cooperates with numerous banks and financial institutions that offer unsecured loans for up to 60,000 euros. You can use the money for anything you like. 

We at Sortter want to help you get a loan on fair terms. By filling a single application, you will receive a number of loan offers and you can pick the best one. We choose our partners carefully and show the loan terms and all loan costs clearly and transparently.

Our job is to find you the best loan interest from a number of banks and financing companies so that you do not have to pay any extra for it. We obtain tailored loan offers from 20 loan providers, whose interest rates range between 4% and 20%. We list the banks’ loan offers in order of affordability based on the annual percentage rate of interest. This means that selecting the cheapest loan is easy and transparent. You can learn about the loans in more detail.

The best way to find a cheap loan offer is to compare the loan prices. Sortter offers you an easy way to make this comparison. You can see all loan costs clearly, down to the last euro. By filling in a single loan application, you will get loan offers from a number of loan providers. Comparing loans is always worth it, as the interest rates offered by loan providers vary and may change on rather short notice.

The repayment period depends on the loan sum and the request you put in the loan application. With larger sums, the repayment period may be up to 15 years. Even if you choose a longer repayment period, you can naturally pay your loan back earlier, which reduces your loan costs.

Yes, you can pay your loan back prematurely, either all of it in one go or by means of higher monthly instalments. As a result, you interest costs will be lower in real terms. Your option to pay back the loan prematurely is a legal right, and it does not even need to be expressly stated in the credit conditions. You can read more about premature repayment of loans on the website of the Finnish Competition and Consumer Authority, for example.

It’s quite possible! Banks and financial institutions are competing for customers, and banks and financial institutions competing with your home bank may grant a cheaper loan to get you as their customer. It is worth asking for a loan offer through Sortter, so that you can compare offers from different loan providers easily. Our job is to ensure that you get competitive offers from different banks. However, you are the customer and can obviously decide where you take a loan.

Yes – and this is indeed a good idea if Sortter can help you to find a loan with a lower interest rate and costs than your existing loan. Many of our customers refinance their credit card debt or car loans. 

Owing to tough competition between banks, Sortter can often find a loan that is cheaper than your existing one, enabling you to pay off and old consumer credit, credit card debt or hire purchase agreement. You can also read more about combining loans.

You can apply for a loan through Sortter if you live in Finland, you have regular salary or pension income, you are at least 20 years old and have no payment defaults. Some banks may have stricter terms for their applicants. But you do not have to worry about this, because we will send your application to the banks and financial institutions whose credit criteria match your situation.

As our customer, you can always decide how you want to use your loan. Typically our customers use money they have obtained through Sortter for various purchases, renovation, buying or fixing a car, for travel or to combine smaller loans.

We at Sortter work together with a number of banks and financial institutions. When you apply for a loan through us, we will make sure that everything is simple and transparent for you. We seek tailored loan offers for you from our partner banks. 

This way we ensure that you will get a loan under the best possible terms.

We provide this service free to loan applicants. 

Our operation is based on partnership agreements we have made with banks and financial institutions. Banks and financial institutions want to get their loan offers listed for our users, so the loan providers also finance our operations. 

Using Sortter, getting competitive tenders through it, and comparing them and actually applying for a loan is free for you. This is similar to hotel and flight reservation pages.

Banks and financial institutions always made tailored offers through Sortter to the applicants. As on a hotel reservation site, the prices are lower than if you contact the hotel directly. This is also the case when applying for a loan through Sortter. The logic here is that banks and financial institutions get new customers through Sortter, enabling Sortter to negotiate lower prices for the benefit of customers.

A co-applicant is another applicant who is jointly responsible for paying back the loan. In practice this means that if you are not able to pay back your loan for some reason, the loan provider has the right to demand repayment from the co-applicant. Usually the co-applicant is a common-law spouse or spouse.

If possible, you should include a co-applicant. Banks and financial institutions assess the loan applicant’s liquidity and make their offer on that basis. If a loan has two applicants, banks and financial institutions may offer better terms. Loan repayment is more secure from the loan provider’s viewpoint if the loan has a co-applicant.

When applying for a loan through Sortter, you will not need guarantors. We recommend that you add a co-applicant to your application, because this will probably result in an even better loan offer.

You do not need any documents to submit a loan application. However, before granting the loan, some banks and financial institutions want to see documents about the income you entered on your application. Typically a payslip or taxation decision is accepted. We make sure that the loan offer you receive lists all the documents that may be required before a loan can be granted.

You can apply for a loan through Sortter without collateral. In an unsecured loan, you do not have to use your existing assets as collateral. The benefit with an unsecured loan is that it is processed quickly but the interest rate is still reasonable.

You can apply for a loan without banking credentials, but to sign a loan agreement and withdraw the loan, you will need either banking credentials or a mobile certificate.

Once you have submitted your application, we will send it to banks and financial institutions we cooperate with. After this banks and financial institutions will return with a personal loan offer which we at Sortter will visualise into a form that is easy to understand. At this point you will also receive a message if you are required to submit any documents, such as one indicating your income. 

Once you have chosen an offer, all you have to do is to go to our partner’s service, where you can sign the loan agreement using your banking credentials or mobile certificate.

This depends on the bank, but usually a loan is available already the same day, but latest within two business days.

The monthly instalment is determined on the basis of the loan amount, interest rate and the chosen repayment period. With Sortter’s loan calculator you can study repayment alternatives.

Sortter will help you to find the best loan offer from banks and financing companies. The loan agreement is always concluded between you and the loan provider.

At the moment you can compare with our service consumer credit, unsecured loans and flexible credit.

Loan offers will remain valid for 2–4 weeks, depending on the loan provider. However, the validity period is clearly indicated on the offer.