Norway: Non-secured Instant Loans to Consumers

Kåre Lilleholt


The article deals with the Norwegian legal framework related to non-secured ‘instant’ loans to consumers. Financial services, including the provision of credit, are subject to licensing and supervision by Norwegian authorities; this applies even to foreign credit institutions offering financial services in Norway. The Financial Contracts Act contains rules on credit contracts, addressing both 1) marketing, pre-contractual information, assessment of creditworthiness, and a duty to warn the consumer against irresponsible loans and 2) rules on the content of the credit contract. A scheme for consumer insolvency has been in place since 1992. Rules on unfair contract terms and on usury in criminal law are of scant interest in connection with instant consumer loans.


instant loans; consumer credit; financial licensing and supervision; unfair contract terms; usury

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Journal DOI:
ISSN 1406-1082 (printed matter)
ISSN 1406-5509 (online)