Nordea Finance Erämaksu is a valuable addition to your online store's payment selection. Erämaksu is an unsecured fixed-term one-time loan intended for larger online purchases of €500–30,000. The consumer customer applies for Erämaksu's credit decision at the online store's checkout.
- When installment payment is used as a payment method in the online store and the amount of the purchase is at least €500, the consumer customer can choose installment payment as the payment method at your online store's checkout. The amount of loan granted corresponds to the price of the purchase and cannot exceed €30,000.
- Instead of a regular payment transaction, the customer can quickly apply for a credit decision directly at checkout. To apply, the customer needs a Finnish online banking identifier or mobile certificate. Customers of all banks can apply for installment payment.
- An order paid by installment is ready for shipping in the online store's admin panel. Nordea Finance will settle the payment on the first banking day after shipping.
The instalment payment is granted by the lender Nordea Finance Finland Ltd, business ID 0112305, address Aleksis Kiven katu 9, Helsinki, 00020 Nordea.
Pricing
Erämaksu is a free payment method for the merchant, with a reasonable interest rate for a retail customer (8% + 3-month Euribor) and an account management fee determined by the amount of credit (up to €9/month) without any opening or annual fees. The customer can at any time pay off the loan at no additional cost.
The account management fee depends on the amount of credit as follows:
| Amount of credit | Account management fee |
|---|---|
| €500–999.99 | €0/month |
| €1,000–2,999.99 | €3/month |
| €3,000–5,999.99 | €6/month |
| €6000 or more | €9/month |
Example calculation:
The effective annual interest rate for a loan of €2000 is 14.1% and the credit price is €2161, when the reference rate for 3-month Euribor is 3.5% (09/2024) and the margin is 8% (i.e., the total interest rate is 11.5%, 09/2024), the account management fee is €3/month, and the loan is repaid in 12 monthly installments (€185).
Installation and setup
For the presentation and marketing of the payment methods, you can utilize the Partner Material Bank provided by Nordea Finance to its sales partners. There you will find, among other things, banners and images intended for the marketing of Erämaksu, as well as the advertising guidelines for Erämaksu. The instructions available in the Partner's Material Bank are also suitable for marketing beyond the context of an online store.
Go to the Partner's Material Bank.
As Nordea Finance's merchant partner, you must carefully review the materials and have your advertising approved by Nordea Finance. In the Partner's Material Bank, you will find contact details for comprehensive marketing support.
