How the Loan Comparison Process Works
Loan comparison means having banks and finance providers compete for your application – so you don’t need to visit each one separately. Through Elekti, this happens automatically in the background: you submit a single application, and multiple partner institutions send you competing loan offers. You’ll then conveniently see which offer is the cheapest and which one has the best terms tailored for you.
Without comparing options, you might end up paying more in interest or fees than necessary. Comparison ensures you get the most competitive terms available – and you only pay what’s fair. Elekti operates completely impartially: we don’t favor any bank, but present all offers equally. The decision is always yours.
Benefits You Gain from Comparison:
Save money
When lenders compete for your loan, interest rates generally decrease. Lower rates lead to lower total loan costs, which can amount to hundreds or even thousands of euros depending on the loan length.
Save time
A single application means no juggling multiple forms or conversations. Elekti collects all offers within minutes – no need to wait days like with traditional comparisons.
Get better terms
Offers are customized to you. Comparison highlights differences between providers—some may offer longer repayment periods or more flexible terms. You can easily see which overall option suits you best.
No obligations
equesting offers doesn’t affect your credit score or obligate you to take a loan. You can safely compare, inquire, and only proceed if you’re satisfied. Elekti is 100% on your side – helping you find the right solution, but the choice is always yours.
The Process is Transparent
The comparison process in Elekti is fully transparent: you clearly see the interest rate, monthly payment, any extra charges, and the total repayable amount for each offer. No hidden terms or surprise fees are introduced later. When lenders compete for you, you have the upper hand – and we make sure all information is presented in a clear, decision – supportive format.
Who Can Apply for a Loan?
Age
You must be at least 20 years old.
Finnish nationality or permanent residence in Finland
You need a Finnish personal identity number and registered domicile in Finland. A Finnish bank account is also required for loan disbursement.
Regular income
Applicants should have a verifiable source of steady income – such as salary, pension, or business income – to demonstrate repayment capability. Lenders assess loan suitability based on income level.
Clean credit history
You must not have active payment defaults. Your credit information is checked during the application process. A single minor oversight in the past may not disqualify you, but active defaults usually prevent new loan approval.
Stable finances
Lenders expect overall sound financial management—for example, existing loans, credit card debts, and bills should be paid as agreed. Good creditworthiness and repayment history improve your chances of getting a favorable loan offer.
Loan comparison means that banks and finance companies compete for you – you don’t have to go from one bank to another negotiating yourself. With Elekti, this happens automatically in the background: you submit a single application, and several of our partners will offer you competing loans. As a result, you can easily see which offer is the most affordable and which one has the best terms for you.
Without comparison, you might end up paying unnecessarily high interest or fees on your loan. By comparing offers, you ensure that you get some of the most competitive terms on the market and that you don’t pay more than necessary. Elekti operates entirely impartially: we do not favor any bank, but present all offers fairly and on the same criteria. The decision is always in your hands.
