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Paying for your studies

  • 2023/2024. SEB does not sign new student loan agreements during the academic year. We also do not make automatic loan amount disbursements for previously concluded student loan agreements in the beginning academic year.

Private person

1. Home loan, mortgage loan
- agreement conclusion 0.4% of the loan amount, min. EUR 190
- agreement amendment (1) up to 0.4% of the remaining loan, min. EUR 190
- changing the payment date free of charge
- change of the current account(s) related to the loan free of charge
- grace period for the principal amount of the loan free of charge
2. Consumer loan
- agreement conclusion for car purchase 1.5% of the loan, min. EUR 75
- agreement conclusion for real estate purchase 1% of the loan, min. EUR 75
- agreement conclusion for solar panel purchase 1% of the loan, min. EUR 75
- agreement conclusion for improving home energy efficiency 1% of the loan, min. EUR 50
- agreement conclusion for other purposes 1.5% of the loan, min. EUR 35
- agreement amendment (1) free of charge
- changing the payment date free of charge
- change of the current account(s) related to the loan free of charge
- grace period for the principal amount of the loan free of charge
3. Overdraft
- agreement amendment (1) EUR 15
- changing the payment date free of charge
4. Student loan
- agreement amendment (1) free of charge
- amending the student loan repayment schedule free of charge
5. Endowment loan
- agreement amendment (1) up to 1% of the remaining loan, min. EUR 250
- changing the payment date free of charge
- change of the current account(s) related to the loan EUR 20
6. Limit loan
- agreement amendment (1) up to 1% of the loan limit, min. EUR 35
- changing the payment date free of charge
7. Other loan-related services
- re-registration of a pledge established on a building into a mortgage free of charge
- reminder of debt free of charge
- debt claim letter EUR 5
- certificate on paid interests (2) EUR 4

(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) Commission fee applies to certificates issued at a bank office. A certificate issued automatically in the Internet Bank is free for the client (for enclosing electronically to income tax return).

Maximum amount

2023/2024. per academic year is 3,000 euros.

If the duration of your studies according to the curriculum is less than nine months, you can get half of the student loan up to the maximum amount

How many times is the loan granted

The number of times the loan is granted to you depends on the length of the standard period of your studies.

If you continue your studies on the same level of education or academic level (e.g. when acquiring second higher education) and have already taken out a student loan, then the number of times the loan is granted to you now is reduced by the number of times you took out a student loan before.
Interest rate

The contracts concluded with SEB has a fixed interest rate of 5% of the loan balance per year.
The interest payment day is November 3 of each year or according to the agreed loan repayment schedule.

Due date

Tied to the standard period of study and/or the actual time during which a person studies and is eligible for a student loan pursuant to law.

Loan security

The following security must be provided to obtain the loan:

  • sureties from two Estonian citizens or persons* holding a long-term residence permit or the right of permanent residence or
  • mortgage on residential property located in Estonia that is owned by you, your spouse, or a close relative.

*A surety provider must be 18–70 years of age and have received a regular and documented income equal to at least the current national minimum wage in the past three months.

Requirements for applicant

In SEB you can apply for a student loan, if

  • you are a citizen of the Republic of Estonia or hold a long-term residence permit or the right of permanent residence and
  • the duration of your studies according to the study programme is at least six months.

You must also

  • study full-time or part-time in an Estonian university, institution of professional higher education, or vocational education institution or
  • be in formal education in an Estonian vocational educational institution or institution of professional higher education on the basis of secondary education or
  • study in an equivalent educational institution and equivalent form of study abroad.

You are not eligible for a student loan if you are on academic leave or have student loan arrears.

Repayment of student loan

You have to start repaying the principal of your student loan not later than one year after you graduate or terminate your studies, unless you resume your studies before one year has lapsed from termination.

After you graduate or terminate your studies, you must repay the loan principle and interest according to the schedule prepared by the bank, generally in equal monthly payments (annuity schedule).

If you do not complete your studies for any reason whatsoever, you must repay the loan in a period that equals one and a half times the length of time you spent studying in the educational institution but is not shorter than six months and not longer than one-and-a-half times the nominal duration of the study programme.
Grace period

You can use a grace period in relation to childbirth, military service or time spent in residency.
Repayment of the student loan and payment of interest will be suspended for the duration of parental leave (unless the other parent of the child has been granted a grace period for student loan on the same basis). Repayment of the student loan and payment of interest will also be suspended during military service and for the period of medical residency. The state pays the entire interest on the student loan for this period to the bank.

If you would like to apply for a grace period, you must submit a grace period for student loan application (PDF, EST) and the child’s birth certificate before the child attains three years of age or a certificate issued by the military unit before the end of your military service. Please note! The grace period is applied from the moment the relevant certificate and application are submitted and not retroactively from the start date of the period of eligibility.

Annual percentage rate as a typical example

The initial annual percentage rate of charge of a student loan is 5.42% under the following sample conditions:

  • the loan amount in the first year in amount of 3,000 euros is immediately disbursed upon conclusion of the contract;
  • fixed interest rate 5% per annum on the loan balance;
  • monthly fee of current account 0.30 euros;
  • repayment within one year in 12 monthly instalments.

The total amount of repayments payable by the client is €3,083.46 and total amount is €3,087.06. The annual percentage rate of charge, amount of repayments, and total amount may increase if the repayment occurs over a longer period of time.

Borrower’s checklist and explanations for the applicant of consumer loan

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 your homework:

  • consider for what and how much you need to borrow and what are your sources for repayment;
  • submit us true and adequate information;
  • make clear for yourself what costs are involved in borrowing;
  • consider the possibility that your financial situation may deteriorate , but you must still be able to repay the loan;
  • examine carefully all loan documents (agreement, information sheet, etc.) before signing;
  • there are no unsolvable problems or situations, only different options – we are your partner who you should not hesitate to contact even if you encounter problems with repaying the loan.

You may ask information about our loan conditions and get explanations both before concluding the loan agreement and during its term. In case of questions, contact us via our general contact channels.

When examining the loan conditions and agreement, please pay attention also to the following:

1. Standard European Consumer Credit Information

Before conclusion of a loan agreement we provide you with a personalised Standard European Consumer Credit Information sheet, containing brief information on the more important conditions of the agreement. Please examine it carefully.

2. Solidary liability of several borrowers

If there is more than one borrower, they shall bear solidary liability for 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.

3. Loan currency

We issue the loan in the currency of your residence in Estonia, i.e. in euros. The currency cannot be changed.

4. Loan disbursement term and conditions

You may start using the loan after signing the agreement and fulfilling all contractual preconditions. The loan will be paid out to your current account with SEB Pank.

5. Interest

Interest is a fee you pay for using the loan. The interest rate is specified in the loan agreement.
The interest rate of a consumer loan is fixed for the entire loan period. The interest is paid on the outstanding loan balance.

6. Loan repayment

We debit the payments to be made under the loan agreement from your current account. In agreements concluded before 01.08.2022, the interest on the student loan is 5% of the outstanding loan amount per year. 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 a monthly basis according to a payment schedule in equal, i.e. annuity payments, consisting of the principal part of loan and interest.

7. Early repayment

You may prepay a consumer loan in full or in part if you inform us of your wish 10 days in advance. No contractual fee applies to the early repayment of a consumer loan.

8. Amendment of conditions of your loan agreement

The conditions of the agreement, incl. the interest rate, can be amended upon agreement of both parties and the amendment is usually recorded in an annex to the agreement. A fee is charged for amendments initiated by you.

9. Special conditions of the loan agreement

If the agreement contains special conditions, you will have to follow these with utmost care. Only then can you be sure that the agreement will remain in effect.

10. Consequences and costs of violating the loan agreement

If you do not make contractual payments in due time, we may demand penalty for late payment in the rate set out in the agreement. If you violate a non-monetary obligation, we will be entitled to charge a contractual penalty in the rate 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 also notify the surety. If payments are overdue for more than 45 days, we shall forward the debt information to a payment default registry (Creditinfo Eesti AS).

11. Cancellation of the agreement and the consequences thereof

The grounds for cancelling an agreement are shown in the terms and conditions of the agreement. For example, we are entitled to extraordinarily cancel the agreement if you have delayed at least three successive payments. If you do not pay the loan balance, interest, and other arrears, we will start collecting the debt, which may include enforcement or judicial proceedings. All costs related to debt collection shall be borne by you.

12. Costs related to the loan agreement

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 on our webpage at as well as the general terms and conditions of the bank at

In addition to loan and interest payments, you shall be charged a monthly fee for the current account.

13. Obligation to open an account and transfer the income

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. We have the right to require you (and co-borrower) to receive all your income in your current account at SEB Pank and make settlements with SEB.

14. Risk of possible decrease in solvency

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. Also call us right away if your employment is terminated or execution proceedings are commenced against you or your bank account has been seized. Together we shall find the most suitable solution to the situation. Possible solutions include amending the payment date or granting a grace period, whereas you may also postpone the final repayment date by the grace period.

15. Complaints and disputes

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 disputes on our website at

If you feel that our answer is not what you expected and still think we have violated your rights when granting the loan, you have the right to turn to the Consumer Protection and Technical Regulatory Authority (Endla 10a, 10122 Tallinn; or the Financial Supervision Authority (Sakala 4, 15030 Tallinn; for advice and explanations.

Furthermore, in order to resolve a dispute you may contact the Consumer Disputes Committee operating at the Consumer Protection and Technical Regulatory Authority or turn to court. A complaint to the Consumer Dispute Committee can also be submitted digitally via Online Dispute Resolution website at