💳

Consumer Loan Calculator

Calculate the true cost of a consumer loan. See monthly payments, total interest and a full amortization schedule for personal loans.

kr
%
år
🇩🇰 All calculations are based on Danish rules, rates, and currency (DKK). This calculator is translated for convenience but applies exclusively to Denmark.

Consumer Loan Calculator for Denmark

Consumer loans (forbrugslån) are unsecured personal loans used for purchases, travel, renovations or other personal expenses. Because they are unsecured, they typically carry higher interest rates than mortgages or car loans. This calculator shows you the exact monthly payment, total cost and a detailed repayment schedule so you can make an informed decision before borrowing.

Consumer Loan Interest Rates in Denmark

Interest rates on consumer loans in Denmark vary widely, typically ranging from 5% to over 20% depending on the lender, loan amount and your creditworthiness. Banks generally offer lower rates than online lenders and quick-loan providers. Always compare the ÅOP (annual percentage rate of charge) rather than just the nominal interest rate, as ÅOP includes all fees and gives a true picture of the total cost.

When Does a Consumer Loan Make Sense?

A consumer loan can be a reasonable choice for planned expenses where the alternative is more expensive, such as consolidating high-interest credit card debt. However, for everyday expenses, it is almost always better to save up first. Use this calculator to see exactly how much a loan will cost you in interest — the total interest amount may surprise you, especially at higher rates and longer terms.

Frequently Asked Questions

What is a good interest rate on a consumer loan?

Consumer loan interest rates can range from 3% to 25%. It can end up being a very high rate if you don't spend time finding the lowest rate. The rate can vary depending on loan size, term and your credit history.

What is the 60/4 rule?

If you borrow more than 60% of the property value (loan-to-value > 60%) AND your total debt is more than 4 times the household income before tax (debt factor > 4), you cannot choose a so-called 'risky loan'.

When does a consumer loan make sense?

A consumer loan makes sense when you need to finance a planned expense and the alternative is more expensive, such as consolidating high-interest credit card debt. Avoid borrowing for daily expenses, and always compare ÅOP from multiple providers before choosing.

Sources