You can use the consumer loan for many purposes – renovate your home, buy household appliances, cover your medical expenses, go travelling, pay your tuition fees, or buy a car. Formalisation of the loan agreement is quick and simple. We usually grant the consumer loan without requesting any collateral.
|Terms and conditions|
The maximum loan amount depends on your income and existing obligations.
If you would like to take out a loan of less than 1,000 euros, we advise you to get a credit card with fixed payment .
You can also influence the interest rate yourself. We charge you less interest on your consumer loan if you
|Agreement fee||1.5% of the loan amount, min 35 euros|
|Term||6 months to 5 years|
|Grace period||Up to 6 months|
|Annual percentage rate as a typical example||
The annual percentage rate of charge of a consumer loan is 16.07% under the following sample conditions:
The total amount of repayments payable by the client is EUR 7,010.55 and total amount is EUR 7,103.55.
How to apply
If you are not an SEB client or your salary is not paid to an SEB account, you will also need to submit your bank statement for the last six months.
Requirements for applicant
You can apply for a consumer loan if
You can also apply for a consumer loan with a co-applicant.
|1. Agreement fee|
|1,5% of the loan, min EUR 35|
|1% of the loan amount, min EUR 250|
|1,5% of the credit limit, min EUR 20|
|free of charge|
|1% of the loan limit, min EUR 150|
|legal entity (incl. sole proprietor, farmer)|
|1% of the credit limit, min EUR 175|
working capital loan
|1% of the loan amount, min. EUR 175|
|1% of the loan amount, min. EUR 175|
|start-up loan||1% of the loan amount, min. EUR 175|
apartment building renovation loan
|1% of the loan amount, min. EUR 175|
|2. Fee for changing of contractual terms|
consumer loan (1)
home loan, endowment loan (1)
|up to 1% of the remaining loan, min EUR 150|
|mortgage loan||up to 1% of the remaining loan, min. EUR 150|
limit loan (1)
|up to 1% of the loan limit, min EUR 35|
amending the student loan repayment schedule starting from second amendment
|EUR 7 (2)|
service fees applicable to all the loan products for private individuals except student loan
|change of the current account(s) related to the loan||EUR 20|
|change or replacement of the co-borrower of home loan, mortgage loan, endowment loan||EUR 130|
|change of the paying day once a year||free of charge|
|change of the paying day starting from the second change of the paying day within one year||EUR 20|
|grace period for the principle amount of the loan||
home loan and mortgage loan EUR 50;
|increasing the loan amount|
|- consumer loan||1,5% of the loan limit, min. EUR 35|
|- home loan||1% of the loan limit, min. EUR 250|
|- mortgage loan||1% of the loan limit, min. EUR 150|
|- overdraft||1,5% additional credit limit, min EUR 20|
|legal entity (incl. sole proprietor, farmer)|
|- increasing the loan amount/limit||1% additional loan amount/limit, min EUR 175|
|- changing of contractual terms||1% of the remaining loan /limit, min EUR 175|
|3. Contractual penalties|
|- contractual penalty for the violation of the notification obligation stipulated in the agreement, incl. for not submitting the insurance policy of collateral||EUR 32|
|- contractual penalty for the violation of any other non-monetary obligation stipulated in the loan agreement||up to 5% of the loan amount outstanding at the moment of violation|
|- contractual penalty for the violation of an obligation stipulated in the loan agreement||up to 5% of the loan amount outstanding at the moment of violation|
|4. Re-registration of a pledge established on a building into a mortgage||free of charge|
|5. Notice of debt to borrower|
|reminder of debt||free of charge|
|debt claim letter||EUR 5|
(1) All amendments to the loan, which have not been indicated under separate clauses in the price list (incl. amendment of collateral in a notarised or other form).
(2) Amendment of student loan schedule due to a grace period (for the time the borrower is engaged in military services or for three years after the birth of a child) - free of charge.
The conventional method of repayment for consumer loans is based on an annuity schedule. An annuity is a fixed-amount payment, consisting of both the loan principal and the interest calculated on the loan balance. When you make your first loan payments, interest represents a greater share of the annuity, but as the loan term approaches, the principal becomes proportionally greater.
Enter the initial loan sum, the term of the loan and the interest rate (percentage of the loan balance per year). An annuity consumer loan repayment schedule will be generated for the entire repayment period by each month. You will see the size of the annuity payment and be able to keep track of the decrease in the principal and size of the interest payments over time.
A small loan contract permits you to conclude SEB Loan Protection coverage. Loan protection offered by SEB Elu- ja Pensionikindlustus and PZU Kindlustus* involves insurance solutions that help the policyholder to ensure that in the events of unemployment, severe health impairment, incapacity for work or death the loan or part of it will be repaid to the bank.
Loan protection coverage for a small loan includes
SEB Loan protection coverage can be concluded for a small loan if
- cardiovascular diseases (for example, ischaemic heart disease, heart attack, angina pectoris/stenocardia, heart failure, arrhythmia, stroke or similar);
- malignant tumour, leukaemia, lymphoma or other malignant disease, including brain tumour (either benign or malignant);
- mental or nervous system disorders (diagnosed by a psychiatrist);
- chronic or recurring disease (for example kidney, liver, respiratory tract, pancreas, digestive system or neurological disorders, epilepsy, diabetes or similar).
The insurance period of life insurance cover shall commence upon concluding the insurance contract and shall last until the end of the loan period. The insurance period of severe disability cover, temporary disability cover and unemployment cover shall be one year and it shall be extended automatically, unless the bank is informed of a wish to terminate the insurance contract.
Insurance premiums shall be paid together with loan repayments every month until the end of the loan period. The amount of the insurance premium depends on the actual loan repayment amount and/or loan balance.
Loan protection coverage can be concluded simply and conveniently in SEB Internet Bank or at a branch together with a small loan contract.
In case of an insured event you should inform SEB Elu- ja Pensionikindlus of the event at the first opportunity by calling 665 8020 or emailing . Further information on loss adjustment can be found here.
Taking a loan is an important decision, involving risks. We would like to help you in preparing an informed decision.
When applying for a loan you should do a proper homework:
You may ask information about our loan conditions and get explanations both, before concluding loan agreement as well as during its term. In case of questions, contact us on the general information lines of SEB Pank.
Before conclusion of a loan agreement we deliver to you for your information a personal Standard European Consumer Credit Information sheet, on which we give brief information on the more important conditions of the agreement. Please examine carefully the information presented on the information sheet.
If there is more than one borrower, they shall bear solidary liability upon performance of the agreement: each borrower is responsible for the repayment of loan and fulfilment of other obligations assumed under the agreement to the full extent.
We issue the loan in the currency of your residence in Estonia, i.e. in euros.
In most cases you may start using the loan immediately after having signed the agreement and fulfilled any possible preconditions, however no later than within three working days.
A consumer loan will be paid out or overdraft opened to your current account with SEB Pank.
After signing the agreement you may still withdraw from it within 14 days on conditions set out in the agreement.
Interest is a fee, which is paid for using the loan. Interest rate is specified in the agreement.
The interest rate of a consumer loan and overdraft is fixed. For a consumer loan the interest is paid on the outstanding loan balance, for overdraft on the used loan limit.
We debit the payments to be made under the loan agreement from your current account. If you have taken the loan together with a co-borrower, we will have the right to debit the loan payments also from their current account.
A consumer loan is repaid on monthly basis according to a payment schedule. As a rule, your monthly payments are equal i.e. annuity payments, consisting of a principal part of loan and interest.
For an overdraft you repay the used part of limit when you receive funds in your current account. Later you may take the repaid part of loan into use again. You will pay monthly interest on the used overdraft limit and a limit fee, which is calculated on the total limit.
You may prepay the consumer loan in full or in part, if you inform us of your wish 10 days in advance and pay a contractual fee, which is 0.5-1% on the prepaid amount.
Generally, the conditions of the agreement (incl. interest rate) are amended upon agreement of both parties and this shall be recorded in the annexes to the agreement. As a rule, a fee is charged for amending the conditions of a loan agreement.
If the loan agreement contains mandatory special conditions, you will have to follow these with utmost care. Only this way you may be sure that the agreement will remain in effect.
If you do not make the contractual payments in due time, we may demand penalty for late payment in the rate as set out in the agreement. If you violate a non-monetary obligation, we will be entitled to charge contractual penalty in the rate as set out in the agreement.
Should you remain in arrears, we will first send you a reminder. If the debt is still not settled, we shall send you a debt notice, for which you will be charged. If a suretyship contract is signed to secure your agreement, we shall notify also the provider of surety of the debt. If the payments are overdue for more than 45 days, we shall forward the debt information to a payment default registry (AS Krediidiinfo).
We are entitled to extraordinarily cancel the loan agreement for example if you have partly or fully delayed at least three successive payments. All costs related to debt collection shall be borne by you.
When signing the agreement you will pay a contract fee in the amount and on conditions set out in the agreement. Please read also the price list of loans, which you can find from our webpage at http://www.seb.ee/eng/price-list.
Besides loan and interest payments you shall be charged a monthly fee for the current account and cover other relevant costs, if applicable.
You (and your co-borrower) will have to open a current account with SEB Pank by the date of signing the loan agreement for the entire loan term. Your regular income must be transferred to your current account at SEB Pank.
Please consider how you will cope with the repayment of loan, should the overall economic environment deteriorate, your salary or other income decrease or your other expenditures increase.
Analyse the actual financial situation of your family and consider taking out a suitable insurance contract (such as SEB Loan Protection).
Contact us immediately if you encounter solvency problems. Call us right away also if your employment is terminated or an execution proceeding is commenced against you or your bank account has been seized. Together we shall find the most suitable solution to the situation. One possible solution could be for example amendment of the payment date or granting a grace period.
Grace period means that we shall suspend the repayment of principal part of loan for a certain period. Whereas you may also postpone the final repayment date by the grace period.
If you have any complaints concerning our activity, then first try to resolve the issue by negotiating with us. You can read about the general procedure of settling the disputes on our website at http://www.seb.ee/eng/legal/how-complain.
If you feel that our answer is not the one you expected from us and you still think that we have violated your rights when granting the loan, you will have the right to turn to the Consumer Protection Board (Pronksi 12, 10117 Tallinn; www.tarbijakaitseamet.ee) or the Financial Supervision Authority (Sakala 4, 15030 Tallinn; www.fi.ee), for advice and explanations.
Furthermore, in order to resolve a dispute you may contact the Consumer Disputes Committee operating at the Consumer Protection Board or turn to court. A complaint to the Consumer Dispute Committee can be submitted also digitally via Online Dispute Resolution website at http://ec.europa.eu/odr.https://webgate.ec.europa.eu/odr/main/index.cfm?....
Tähelepanu! Teie veebilehtiseja ei vasta SEB kodulehe külastamiseks vajalikele nõuetele. Palun vahetage veebilehitsejat või seadet, millega te veebilehte sirvite.
Attention! Your web browser does not correspond to the requirements needed to visit SEB website. Please change web browser or device that you use for browsing the site.
Внимание! Ваш браузер не отвечает требованиям, необходимым для посещения сайта SEB. Просим поменять браузер или устройство, при помощи которого вы производите поиск в браузере.