Who Can Apply for a Loan?

Through Elekti, people in various life situations can apply for a loan. Our service is open to all applicants who meet certain basic criteria.

The most common requirements for obtaining a loan are:

  • Age

    You must be at least 20 years old to be eligible for a loan.

  • Finnish citizenship or permanent residence in Finland

    You must have a Finnish personal identity number and a registered domicile in Finland. A Finnish bank account is also required for fund disbursement.

  • Regular income

    You should have verifiable income, such as salary, pension, business earnings, or another documented source. This demonstrates your ability to repay the loan. Loan providers assess the size of the loan based on your income level.

  • Clean credit history

    You must not have any active payment defaults. Your credit information will always be checked as part of the application process. A single minor oversight in the past may not necessarily disqualify you, but active credit issues will generally prevent new loans.

  • Stable financial situation

    Lenders expect responsible personal finance. Good creditworthiness and repayment history improve your chances of receiving favorable loan offers.

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Entrepreneurs, students, and retirees can also apply through Elekti. It’s important to provide honest and accurate information about your income and expenses so that lenders can properly assess your repayment ability.

Co-applicants are allowed  – for example, you may apply with your spouse. Having two applicants can improve your chance of approval or securing a lower interest rate, as lenders consider the combined repayment ability. A jointly responsible loan means both parties are equally committed to repayment.

Every loan decision is evaluated individually. If you’re unsure whether you’ll qualify, it’s still worth submitting an application – it’s free. We may also offer alternative solutions or guidance if your application doesn’t immediately meet a lender’s criteria. Elekti’s experts are here to help you understand the terms and, when needed, find the right solution for your situation.