OPOP: What is it? And how does it affect my loan?

When you get a loan from Kendey Vernastes, you will see an overview of the APR on the loan you wish to take. When you borrow in an institution like ours, it’s meant to be a short-term loan. So a loan you pay back within a few months. It is mandatory for us that we specify the APR on our loan, but that does not mean that you will pay back a lot of money to us when you borrow from us.


APR on short-term loans

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Thus, although the OPP is legally obliged to show to all entities that offer loans to individuals, in some months it is a slightly outdated concept. Since there is a significant difference between opening a bank loan at a bank and taking out a quick loan with, for example, Mandy or Aireen.

If you borrow money from Kendey Vernastes, there are no hidden interest rates or fees on our loans. It is important to us that you are as informed as possible about ours.
Your security is at the top of our list. If we hide fees and interest on our loans, we will guide you and that is something we are very much against. That is why we have made it clear which OPP you have with us if you take out a loan as well as what fees may be on the loan.


You should be aware of this when you take out a loan

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When you take out a loan, it is not just the interest you should pay attention to. You should also check what one-off and ongoing costs are on the loan you want to take.

There may be several types of one-off costs on a loan. These are:

  • Construction fee
  • Booking fee
  • Fixed registration fee
  • Variable registration fee
  • All kinds of fees

There may also be many ongoing costs on the loans offered by the various loan providers:

  • Monthly and annual account fees
  • Management fees
  • PBS fees
  • custodian Fees
  • interest


Take a loan, but think about it

No matter if you choose to borrow in your bank or through an online loan provider like Kendey Vernastes. Should you go for it with the same level of reason and thoughtfulness that you would normally do. Make a list of the advantages / disadvantages you have for borrowing and research the market well. But don’t be alarmed if you see a high APR on your loan. After all, you are supposed to have paid it back in no time. Therefore, the loan you take from Kendey Vernastes will not be long-term or on an annual basis. At Kendey Vernastes you can borrow up to a maximum of DKK 20,000 and through our instant transfer it is possible to get the money within minutes.


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