Bluestep Bank operates in Finland as part of the Enity Bank Group AB. Bluestep specializes in secured consumer credit and debt consolidation – always when the loan is secured against your own home, summer cottage, or investment property.
Bluestep’s slogan is ”Welcome as you are.” In practice, this means the bank reviews each applicant’s situation individually – even when traditional big banks have said no. Payment default entries, entrepreneurship, or irregular income are not automatic obstacles, provided that the property has sufficient collateral value.
A secured loan is particularly suitable when you want to consolidate several consumer loans into one more affordable loan, finance a renovation, or make a major purchase. A longer repayment period and lower interest rate compared to unsecured consumer credit make the monthly installment easier to manage.
Who is Bluestep Bank for?
Bluestep Bank is particularly suitable for homeowners who want to consolidate several consumer loans into a more affordable secured loan. Also for those who have previous payment default entries in their credit history or who have an entrepreneurial background and cannot get a loan from traditional banks. Your own home, summer cottage, or investment property work as collateral.
Features
- Secured consumer credit and debt consolidation
- Loan amount up to 90% of property value
- Repayment period up to 15 years
- Accepts payment default entries on a case-by-case basis
- Individual interest rate (reference rate + margin)
- Suitable also for entrepreneurs and irregular incomes
- Personal loan advisor
Pros and cons
+ Pros
- Longer repayment period than unsecured loans
- Lower interest rate than ordinary consumer credit
- Payment default entries not an automatic obstacle
- Can consolidate several loans into one
- Flexible income assessment – suitable for entrepreneurs
- Summer cottage or investment property accepted as collateral
− Cons
- Requires property as collateral
- Mortgage registration fees and appraisal costs
- Application process takes longer than with unsecured credit
- Interest rate is always individual – the offer is revealed only after the application
Loan terms
The applicant must own a home, summer cottage, or investment property that can be used as collateral. Minimum age 18 years, permanent residence in Finland. Income is assessed individually – also entrepreneurs and irregular incomes are taken into account. Payment default entries accepted on a case-by-case basis.
Possible costs
Opening fee €100 (secured consumer credit). Payment processing fee €2.50 per e-invoice, direct debit, or paper invoice. Mortgage registration fees €200 (new mortgage document €200). Appraisal report €300 if needed. Payment plan modification €200, due date change €30.
Application process
1) Fill in the preliminary application on Bluestep's website. 2) A loan advisor contacts you and reviews your situation individually. 3) Submit the necessary documents (salary statement, property details, mortgages). 4) You receive a personal loan offer with margin. 5) After signing the agreement and registering the mortgage, the money is transferred to your account.
Repayment
Annuity loan with a fixed monthly installment. Repayment period typically 5 – 15 years. The interest rate is the reference rate (Bluestep Prime) + personal margin, which stays the same throughout the loan period, but the reference rate may change. You can repay the loan early according to the terms.
Customer experience
Customers appreciate Bluestep's individual service and that the bank listens to your life situation before making a decision. Especially entrepreneurs and people with previous payment default entries have given positive feedback. Finnish-language customer service and a dedicated loan advisor receive praise.
Rate, costs and representative example
Loan example: €30,000 secured consumer credit, repayment period 15 years (180 installments), nominal rate 8.45%, effective annual rate 9.00%, opening fee €100, monthly fee €2.50. Total cost of the loan approx. €53,411, monthly installment approx. €297.
Frequently asked questions – Bluestep Bank
Can I get a Bluestep Bank loan if I have a payment default entry?
Yes, you can apply. Bluestep reviews each applicant's situation individually. A payment default entry is not an automatic obstacle when sufficiently valuable property is offered as collateral. The final decision is always made based on a personal assessment.
What is the difference between a secured loan and an ordinary consumer credit?
With a secured loan, you provide your own home, summer cottage, or investment property as collateral. Thanks to this, you typically get a lower interest rate and a longer repayment period than with unsecured consumer credit. In return, the bank may require a mortgage on your property.
How much can I borrow from Bluestep?
The loan amount can be up to 90% of the property's value. In practice, for example, you can get about €180,000 in loan from a property worth €200,000, taking into account existing mortgages.
Is Bluestep suitable for entrepreneurs?
Yes, Bluestep is particularly entrepreneur-friendly. The bank assesses your income individually, so irregular income or multiple income sources are not obstacles to the loan. This is one significant difference from traditional banks.
What is the Bluestep Prime reference rate?
Bluestep Prime is Bluestep's own reference rate, which was 3.55% (20.4.2026). Your personal loan rate is the sum of the Prime rate and the margin determined for you (2.00% – 7.15%). The margin stays the same throughout the loan period, but the Prime rate may change.
Can the loan be used for debt consolidation?
Yes, debt consolidation is one of Bluestep's main products. You can consolidate several consumer loans into one secured loan – typically at a lower interest rate and with a longer repayment period, reducing the monthly installment.