Today, the recent global Earth's gravity model, EGM08, is successfully utilised for different purposes in geosciences. Here, EGM08 is used to compute a geoid model for Fennoscandia and since it is restricted to degree and order 2160, the higher frequencies of the geoid, or the truncation bias, is recovered directly from terrestrial gravity anomalies using a simple formula. The total topographic and atmospheric effects are computed and added to the derived geoid as well. A very simple EGM08-based non-integral geoid estimator is developed and applied for computing the geoid of Fennoscandia. The outcome of the estimator is compared with the Global Positioning System (GPS)/levelling data of Sweden, Denmark, Finland and Norway. Numerical results show the successful performance of the presented estimator as the geoid become closer to GPS/levelling data than the one computed solely with EGM08. This study will show that considering the truncation bias of EGM08 will reduce the root mean square error (RMSE) of the differences between the geoid and GPS/levelling data by about 1.3 cm and the additive topographic and atmospheric corrections by 1 cm further. It is shown that the correlations among the data have no significant influence on the estimated geoid.