Be aware that the bank’s advisors are sellers of the bank’s products, so you should make your own considerations about what you can afford, if you are offered a loan.
When offered a loan, you have the right to be informed of all the terms and conditions. The Norwegian Act on Financial Contracts (Finansavtaleloven) require banks and financial institutions to advise private persons against taking out a loan if their financial situation or anything else suggests it.
The Consumer Council (Forbrukerrådet) provides you with an updated overview of the best loan offers, at all times. Enter your loan information in the form and find the best offer for you.
The nominal interest rate is the running face value interest for a given period, normally one year.
The effective interest rate tells you what the loan will cost. This means that all fees (establishment fee and monthly service fees) are included in the cost estimate.