Refinancing loan
The refinancing loan allows you to bring your current loans and instalments over to Holm Bank and merge them into one contract, with one monthly payment.
Loan amount
Interest rate
Contract fee
Management fee
Optional
Contract length
By bringing your current loans and installments over to Holm Bank, you can conveniently keep an eye on your financial obligations, paying for them in one clear monthly payment. The up to 10-year payment schedule allows you to schedule your obligations for a period that suits you and pay smaller monthly payments. In the course of refinancing, you can apply for an additional loan amount in addition to rescheduling your current obligations.
Consider your decision thoroughly and review the terms and conditions of the contract before making your decision. If you have any questions or need advice, get in touch with us.
Refinancing loan example
If you have two loans with an outstanding balance of €10,141 at an interest rate of 13.9%, and two hire purchases with a total outstanding balance of €1,392, both at an interest rate of 18.9%. In total, you have four different contracts and four separate payments to various financial services providers.
By bringing these liabilities to Holm Bank and merging them into one refinancing loan at a fixed interest rate of 8.99% with a suitable payment schedule, you can pay only one monthly payment in an amount that suits you.
In this example, in case of a 6-year contract, you'll pay only one monthly payment in the sum of €246.03, which is €148.03 lower than your previous payments.
Loan payment protection insurance
Loan payment protection insurance offers financial support in the event of unforeseen circumstances that may affect your ability to keep up with your loan repayments. Should you face situations such as long-term incapacity for work or unemployment, the insurance helps cover your monthly loan payments.
You can add this insurance to your loan agreement via our self-service. For more information, please visit loan payment insurance page.
Loan payment protection insurance is provided by If P&C Insurance AS.
To fulfil the due diligence obligations placed on us as a bank, we may ask you to verify your identity via video in Veriff’s environment. To verify your identity, you will need a device with an internet connection and a working camera. Please have your identity document ready and follow the step-by-step instructions shown on the screen. We will send you a personal link for identity verification to your email address.
Frequently asked questions
However, if you have been making your loan payments on schedule and would like to extend the term of your existing loan to reduce the monthly payment amount, refinancing is a suitable option.
You can then indicate those obligations that you wish to refinance. If the refinancing option is not shown on the screen, the corresponding obligation cannot be refinanced.
If you have any questions or need help with your application, please get in touch with us.
Make sure that your payment reaches us by the due date, and bear in mind that there may be delays in payments between banks, for example during weekends and public holidays. To ensure that you do forget your monthly payments, you can set up a standing order via your online bank.
Additional information
The financial services provider is Holm Bank AS. Review the terms and conditions of the contract and consult an expert. The annual percentage rate of charge is 19.79% on the following sample conditions – loan amount: €4,500; contractual fee: €67.50; administration fee: 0.99€; repayment period: 44 months; fixed interest rate: 9.99% of loan amount per annum; total amount payable: €6,289.64; net repayments: €6,222.14 ; number of repayments: 48.