OREANDA-NEWS. April 27, 2011. Nordea Bank is offering a new loan. Secured by real estate, the idea loan’s advantages are that it is universal, competitively priced and provides a way of protecting against possible rises in the prime interest rate, reported the press-centre of Nordea Bank.

“The idea loan is a need-based and universal loan product,” said Nordea Bank’s Head of Loan Products Kristo Kokk. “Customers can use the loan for financing their ideas, dreams or needs, whether we are talking about furnishing a home, financing operating capital, educational or health costs.”

Idea loans are issued to individuals with real estate as collateral and the loan amount can generally range up to 66% of the value of the collateral. The interest rate on the ideal loan consists of the prime interest rate plus a margin based on each customer’s circumstances. “As always, we evaluate loan conditions on a personal basis, but it will be competitive in any case. Customers feel it is important that the price of the loan be clear and transparent,“ said Kokk.

In addition we offer the possibility of insurance against possible rises in the base rate. “Considering the activity on the Euribor to this point and market expectations for the upcoming period, this is an opportunity well worth considering,“ said Kokk.

For more about the idea loan, visit the Nordea Bank website, or ask for an offer from the nearest Nordea office.