Lump-sum loans

• Loan number
  • The loan number is a unique loan identifier created by the lender.
• Loan contract concluded
  • The date of conclusion is the date when you and the lender concluded a binding contract.
• Peer-to-peer loan
  • The lender reports to the register whether they have brokered the loan as a peer-to-peer loan broker. Brokering of a peer-to-peer loan refers to a situation where a private individual, for example, borrows money to another private individual through a company acting as a peer-to-peer loan broker.

The Positive credit register shows the main purpose for which a loan has been granted to you. Lump-sum loan is the only loan type on which the purpose of use is reported. Note that the lender has reported only one purpose of use even though there may be several purposes. The purpose of use is also shown on the Summary page.

Guarantee receivable for a student loan
If Kela has guaranteed your student loan and paid it to the bank, Kela will collect the entire amount it has paid from you. The amount is referred to as Guarantee receivable for a student loan. Kela reports information on a guarantee receivable for a student loan to the Positive credit register. However, the information reported to the register on a guarantee receivable for a student loan is more limited than the information reported on other loans, so some items are left blank. If you need more information about the guarantee receivable, contact Kela.

Home loan
Home loan refers to a loan taken out for the purpose of buying or renovating a home. A loan taken out to pay a housing company loan may also be a home loan. A more detailed definition of home loan can be found in chapters 7 and 7a of the Consumer Protection Act (851/2016). A home loan also refers to a loan granted for the renovation of a residential apartment, real estate unit or building when the shares or participations entitling to the ownership of the apartment, or the residential real estate unit or the right of use of the property including the buildings is provided as collateral for the loan.

Home loan for first home
A home loan you have taken out to buy a first-time home, i.e. the first home you own. You may own the first-time home alone or together with someone else.

Home loan for leisure house
A home loan taken out to buy a leisure house, such as a cottage or other holiday home.

Home loan for investment purposes
A home loan taken out to buy an investment home. An investment home is an apartment which the owner does not use as a permanent home but to gain financial benefit by renting it out, for example.

Student loan
A loan granted for studying or for study trips, for example. Student loans granted to minors are also shown in the Positive credit register.

Consumer credit for the purchase of a vehicle or craft
For example, a car loan or a boat loan. A vehicle or craft refers to a means of transport registered in the Transport Register, and to any accessories associated with it. The Transport Register is defined in the Act on Transport Services (320/2017). The means of transport include all vehicles, aircraft, vessels and watercraft, railway rolling stock, and related equipment.

Other consumer credit
All other loans granted to consumers. Consumer refers to a private individual who purchases goods or services mainly for other than business purposes. The purpose of use covers all such loans granted to consumers that are not home loans, student loans, consumer credits for the purchase of a vehicle or craft, or guarantee receivables for a student loan. For example, the purpose of a standard consumption loan is Other consumer credit.

• Name for marketing purposes
  • The lender reports its own marketing name or auxiliary business name to the register. Marketing name here refers to the name that the lender uses for the purposes of marketing.
• Identifier
  • The lender's identifier is the company's Business ID. If the lender is non-Finnish, they report their foreign business ID instead of the Finnish Business ID.
• Official name
  • The lender's official name is the trade name registered in the Trade Register

The lender reports to the register whether you are the loan's only debtor or a co-debtor. You can see the number of co-debtors and the first name and last name of each co-debtor who has a Finnish personal identity code. If a co-debtor does not have a Finnish personal identity code or is a company, for example, you do not see the co-debtor's name. If a co-debtor wants to see more detailed information on the loan, they must log in to the e-service with their own ID.

The lender reports the currency of the loan that was granted to you.

• Amount issued
  • Amount issued refers to the total amount of loan granted to you.
• Amount paid
  • Amount paid refers to the amount you have actually drawn. The amount granted to you may be greater than the amount you have actually drawn. Depending on the loan contract, it may also be possible to draw a loan in instalments, i.e. not necessarily all at once.
• Loan balance
  • The lender reports to the register the up-to-date loan balance. Loan balance refers to the unpaid loan principal, excluding interest or expenses.

The lender reports one-time expenses for the conclusion of a loan contract to the register. Such expenses include, for example, expenses and fees for loan applications and conclusion of a loan contract, charges for the use of a certain means of payment, loan arrangement fees, delivery fees or the like, payments made to loan brokers when a loan contract is concluded or credit is opened, separate expenses for transferring money to a bank account, i.e. an additional charge for rapid loan processing or withdrawal. The lender reports expenses included in the calculation of the effective annual interest rate according to chapter 7, section 6 of the Consumer Protection Act to the Positive credit register.

Note that charges and loan expenses may be collected from you throughout the life cycle of the loan. Such expenses are not included in the one-time expenses arising from the conclusion of a loan contract. If loan expenses are paid in connection with monthly payments, for example, or otherwise in instalments, you can find them in the reported payment transactions.

Lenders report all interest information that is taken into account in the calculation of the effective annual interest rate. Late-payment interest is an expense arising from a breach of contract, and it is not reported to the register. You can see all loan-specific interest information that lenders have reported to the register, but this information is not shared with other lenders requesting credit register extracts about you. Kela does not report interest information on guarantee receivables for student loans, so this information is not found in the register.

• Total interest rate
  • Total interest rate shows the loan's total interest in percentages. For example, if a margin rate of 1% is collected on a loan, plus the bank’s reference rate, which on the date of conclusion is also 1%, the lender reports that the total interest rate is 2%. If the loan is interest-free, the total interest rate is 0. If interest collected on the loan may vary, the lender usually reports the highest interest rate to the register. If your loan has been accelerated and only late-payment interest is collected after the acceleration, the total interest rate is not found in the register.
• Margin rate
  • The loan's interest rate usually consists of a reference rate and a margin rate. Margin rate refers to the charge for the loan that the bank collects in addition to other expenses. The lender determines the margin specifically for each client in a loan contract, for example. If your loan has been accelerated and only late-payment interest is collected after the acceleration, the margin rate stored in the register may be 0.
• Effective interest rate on the date of conclusion
  • Effective interest rate means the effective annual interest rate calculated in accordance with the Consumer Protection Act and communicated to you at the conclusion of the loan contract. If the contract contains alternative interest rates, the lender usually reports the highest effective interest rate at the time of conclusion of the contract.
• Interest type
  • The interest type options in the register include Euribor rate, Reference rate determined by the bank, Other variable rate, Fixed interest, and Interest-free. The lender reports to the register the interest type agreed on in the loan contract.
  • Euribor rate (Euro Interbank Offered Rate) is the rate generally used as a reference rate for loans and savings in the financial markets of the euro zone.
  • Reference rate determined by the bank refers to a reference rate subject to changes decided by the bank or group of banks. This reference rate is often called the primary interest rate.
  • The lender reports Other variable rate as the type of interest if the interest rate is other than Euribor, Reference rate determined by the bank or Fixed interest. Other variable interest may also be shown for an accelerated loan on which only late-payment interest is collected.
  • Fixed interest refers to an interest rate that remains the same throughout the contract period or for the entire loan period.
  • The type of interest is Interest-free if no interest is collected on the loan according to the loan contract.
• Period for interest determination
  • If the lender has reported that the interest type is Euribor, the period for interest determination refers to the rate's change interval. Euribor's period of determination is always given in months, for example 12 months.
• End date of the fixed interest rate period
  • If a fixed interest rate period has been initially agreed on for the loan, you can see the end date here, provided that the lender has reported the date to the register.
• Type of linkage to a benchmark interest rate after the fixed interest rate period
  • If the loan period continues after the fixed interest rate period ends, and if some other interest type has been agreed on with the lender for that period, you can see the other interest type in this section. Here the interest type can be Euribor rate, Reference rate determined by the bank, Other variable rate or Interest-free.

If an interest rate restriction has been agreed on for the loan, you can see here the details of the restriction reported to the register. The interest rate restriction protects you against interest rate increases in accordance with what you and the lender have agreed on. There are different types of interest rate restrictions. Interest rate restrictions reported to the register include the interest rate corridor, the interest rate cap and the fixed interest rate.

• Payment method
  • You have agreed on the payment method with the lender in the loan contract.
  • The payment method options are Fixed-size amortization, Fixed-size payments, Annuity, Bullet, Balloon and Other.
  • Fixed-size amortization means that the amortizations paid on the loan remain the same throughout the entire loan period, but the monthly instalments vary with the amount of interest. In this case, repayment instalments usually grow smaller towards the end of the loan period because the amount of interest paid on the loan decreases.
  • Fixed-size payments means that the repayments are always of the same amount regardless of changes in the interest. If the interest rate goes up, the loan period is extended. In this case, the amount of amortization included in the repayments usually increases towards the end of the loan period because the amount of interest paid on the loan decreases.
  • Annuity differs from Fixed-size payments such that when the interest changes, the repayment amount also changes. In other words, an increase in the interest rate does not extend the loan period but increases the repayment amount.
  • Bullet means that the loan principal is repaid in one instalment.
  • Balloon means that the last instalment of the loan is much bigger than the other instalments.
  • Other is used if the payment method has not been separately agreed on. For example, the loan may be in debt recovery.
• Amortization frequency
  • If the payment method is other than Bullet or Other, the lender reports the amortization frequency you have agreed on in months. For example, if you amortize a loan every month, the value you see here is 1 month, and if you amortize the loan every other month, the value here is 2 months.
• Final due date
  • The lender reports the final due date of the payment plan agreed on in the loan contract, if the date is known. However, if the loan has been accelerated, the lender does not report the final due date of a payment plan agreed on for the recovery of the loan.

The lender reports the payment transactions of the loan to the register. In this section, you can see only the latest payment transaction. A payment transaction may be an amortization or some other payment transaction, such as a payment relating to the loan-related expenses or interest. The lender reports separately the actual amortization of the loan, the amount of interest, and the amount of loan expenses other than interest. In addition, the lender reports the date on which the latest payment transaction was made. If the value shown for the latest payment transaction is 0, the lender may have been correcting an error.

The lender reports to the register the deferments of amortizations that you and the lender have agreed on in the loan contract. Deferment of amortizations refers to an agreed period during which your payments are deferred. In many cases, the deferment of amortizations concerns only the loan principal, i.e. you may still have to pay interest and expenses. The lender reports to the register only separately agreed deferment periods and their start and end dates. If a deferment period is an integral part of the loan contract and if it is under your own control and does not require a separate agreement with the lender, it is not reported to the register. The lender can report several deferments of amortizations for a loan.

The lender reports to the register the income data they have established to assess your creditworthiness during loan negotiations, for example. The lender reports the income as monthly income, divided into gross and net income. The income data is always shown in euros. If the lender has established only your gross income or your net income, they report only the income they have established. At Income data, you find a description of the income data disclosed to the lender on the credit register extract. The register receives the income data from the Incomes Register.

• Gross income
  • Gross income refers to the income data which the lender has received from you and reported to the register and from which no taxes have been withheld or other deductions made.
• Net income
  • Net income refers to the income data which the lender has received from you and reported to the register and from which taxes have been withheld and other deductions made.

• The loan includes collateral
  • The lender reports whether collateral is included in your loan. Collateral data is reported for lump-sum loans and running-account loans. Collateral refers to assets that the debtor provides for the bank as collateral in case they cannot repay the loan as agreed. Collateral may also be a guarantee. In the case of a guarantee, someone (for example, a close relative) agrees to assume liability for your debt.
• Type of collateral
  • A loan may have various types of collateral. The register divides collaterals into different types. If your loan has several types of collateral, each type is shown separately in the register. For example, if an apartment and a personal guarantee are provided as collateral for a loan, they are both shown in the register. However, the register does not show the euro value of the collateral or the date of valuation of the collateral.
  • Types of collateral include Residential property, Other immovable property, Hire-purchased items and Other movable property. Other types include Personal guarantee, State guarantee and Other guarantee.
  • Residential property means that the collateral is a residential real estate unit, shares in a housing company, or a residential building located in an area whose control is based on a right of use concerning a property, such as a right of tenancy (for example, a single-family house on a rented plot). It is irrelevant whether the property or the apartment is intended for permanent use or for leisure use. The type of collateral ia also Residential property if the collateral is a dwelling for investment purposes, a right-of-occupancy dwelling or part-ownership dwelling.
  • Other immovable property means that collateral consists of other immovable property than residential property mentioned above. For example, collateral may consist of fields, forests or real estate units other than residential property.
  • Hire-purchased item means that the collateral consists of goods bought on hire purchase, for example a vehicle.
  • Other movable property means that the collateral for the loan is movable property other than residential property or a hire-purchased item. Examples of such property include various securities, such as quoted stock or shares other than those conferring the right of possession to a residential apartment, and art of high value or precious metals, for example.
  • Other collateral means that the collateral consists of property that does not fit in any of the categories described above. Examples of such property are business mortgage and credit insurance.
  • Personal guarantee means that another person guarantees the repayment of the loan, i.e. they undertake to pay the lender the part of the loan they have guaranteed. If there are several guarantors, all guarantors’ details are found in the register. If a guarantor does not have a Finnish personal identity code, the type of collateral is Other guarantee.
  • State guarantee means that the state undertakes to pay the lender the part of the loan it has guaranteed. For example, a student loan or a home loan may have a state guarantee.
  • Other guarantee means that the loan has a guarantee other than a personal guarantee or a state guarantee. Examples of such guarantees include commercial guarantees and guarantees provided by parishes, municipalities or other organisations. Also, if a guarantee is provided by the Provincial Government of Åland or the Guarantee Foundation, the guarantee type reported is Other guarantee. Likewise, if a guarantor does not have a Finnish personal identity code, the type of collateral is Other guarantee.

Loan according to the Consumer Protection Act

For authorities' needs, the lender must report to the register whether a loan is a consumer credit within the scope of chapter 7 of the Consumer Protection Act, a consumer credit linked to residential property within the scope of chapter 7a of the Consumer Protection Act, or other than a consumer credit.

• Consumer credit (chapter 7)
  • Consumer credit within the scope of chapter 7 of the Consumer Protection Act means a loan which the lender grants to a consumer and on which interest or other charges are collected. Such loans include student loans, investment loans, credit cards, hire-purchase transactions and consumption loans. Loans comparable to consumer credits, such as peer-to-peer loans and rental and other contracts (leasing contracts), are also reported as falling within the scope of chapter 7.
• Consumer credit linked to residential property (chapter 7a)
  • Loan linked to residential property within the scope of chapter 7a of the Consumer Protection Act means loans granted for acquiring residential property and loans for which residential property has been provided as collateral. Such loans include, for example, home loans, loans for the purchase of investment apartments, and renovation loans. This information is reported only on loans granted after the entry into force of chapter 7a of the Consumer Protection Act (1 January 2017).
• Other than consumer credit
  • In the Positive credit register, other than consumer credit refers to guarantee receivables for student loans.

Goods or services related credit

The lender reports whether a loan is a goods or services related credit. A goods or services related credit is a consumer credit that a seller, a service provider or a business acting on their behalf has granted for the acquisition of a consumer commodity, such as a car or furniture.

Credit cards are also reported to the register as goods or services related credit. Home loans or student loans, for example, are not reported as goods or services related credit.

• The loan has delayed amounts
  • The lender reports to the register if a loan has delayed amounts. Delayed amount means that you have failed to pay a loan-related payment in part or in full. The lender reports to the register only payments that are at least 60 days late. In other words, amounts that are less than 60 days late are not shown in the register.
• The loan has been accelerated
  • The lender reports to the register if a loan has been accelerated in full due to a delayed amount. Acceleration means that the lender can request that the future instalments or the entire loan should be paid off before they are due. If the loan has been accelerated for a reason other than a delayed amount, the acceleration is not shown in the register.
• The loan is included in a debt arrangement payment plan
  • The lender reports to the register if the loan is included in a debt arrangement payment plan confirmed by a court of law. On loans included in a debt arrangement payment plan, the lender reports more limited data than usually. For this reason, you cannot see payment transactions and balance or interest information on loans included in a debt arrangement payment plan. If the debt arrangement lapses and the loan is no longer included in it, the lender reports the information to the register. After that, you can see all loan details again. If a co-debtor of the loan is included in a debt arrangement, the information is shown to all co-debtors.
  • Voluntary debt arrangements or any other debt arrangements, such as combination loans, offered by private operators are not regarded as debt arrangements in this connection.
• The loan is included in a business restructuring program
  • The lender reports to the register if the loan is included in a business restructuring program confirmed by a court of law. On loans included in a business restructuring program, the lender reports more limited data than usually. For this reason, you cannot see payment transactions and balance or interest information on loans included in a business restructuring program. If the business restructuring program lapses, the lender reports the information to the register. After that, you can see all loan details as usual.
• The loan has been transferred from another lender
  • The lender reports to the register if the loan has been transferred from another lender. The transfer of a loan refers to a situation where the lender has sold the loan to another lender or the loan has been transferred to another organisation within the same group.
• The loan is transferred to another lender
  • The lender reports to the register if they have transferred the loan to another lender. The transfer of a loan refers to a situation where the lender has sold the loan to another lender or the loan has been transferred to another organisation within the same group. The loan will be removed from the register within a few days, and the new lender will then report the loan to the register. After that, the loan will be shown in the register and on credit register extract as a loan reported by the new lender (reassignee).
  •  Because of the transfer, you may find the transferred loan twice in the loan information for a few days even though you have only one loan. The credit register extract also shows only one loan.
• The loan has ended
  • When the lender reports that the loan has ended, the loan details will no longer be shown in the e-service or on the credit register extract. However, if the loan is transferred to another lender, the loan may be shown as ended for a few days before the loan data is removed from the register.
• The accuracy of loan data has been denied
  • This is shown when you have denied the accuracy of loan data and requested that the processing of your data should be restricted on the basis of Article 18 of the EU General Data Protection Regulation. According to the Act on the Positive Credit Register, we can disclose loan data on the credit register extract despite your claim. The information that accuracy has been denied is also shown on the credit register extract. We will delete this information at your request or after the Incomes Register Unit has verified the accuracy of the data or the error has been corrected.

Here you will see when the lender last updated your loan data. The lender may have updated one or more pieces of data.