Kuluttajaluottoa

Kuluttajaluottoa is a Finnish term that translates to "consumer credit" in English. It refers to any agreement where a business grants a loan to an individual consumer. This type of credit is typically used for personal expenses, such as purchasing durable goods like appliances or furniture, financing a vehicle, or covering unexpected costs.

Finnish law strictly regulates consumer credit to protect borrowers. These regulations cover aspects like disclosure of terms and conditions, interest rates, and repayment schedules. Lenders are required to provide clear and comprehensive information about the loan, including the total cost of credit, annual percentage rate (APR), and any associated fees, allowing consumers to make informed decisions.

Common forms of consumer credit in Finland include installment loans, which are repaid in regular installments over a set period, and credit cards, offering revolving credit. Mortgages, while a form of credit, are typically categorized separately due to their specific regulations and purposes. The responsible use of consumer credit is encouraged, and consumers are advised to carefully consider their ability to repay before taking out a loan.