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Water craft leasing

Water craft leasing

Boats and yachts quickly and conveniently

  • Personal offer
  • Fast and easy business

You can buy a yacht, launch or a motorboat with the help of water craft leasing.

If you want catchy experiences on the water, you can lease yourself a watercraft — a yacht, launch or a motorboat. SEB Leasing offers you good opportunities for this.

Lease conditions

With watercraft leasing you can acquire a yacht, launch or a motorboat.
We provide two types of watercraft leasing

  • Financing of recreational craft with financial lease for the acquisition of recreational craft (total length 2.5-12 metres) to be registered in the Estonian Road Administration (ARK)
  • Financing of ships secured with mortgage for the acquisition of watercraft to be registered in the ship register (total length exceeding 12 metres)

Final lease conditions depend on the chosen vehicle and the client. To get a personal lease offer, submit a lease application.  

Standard watercraft lease conditions of SEB

Financed amount: starting from EUR 6000
Downpayment: starting from 20% of the cost of the watercraft
Contract fee: 1% of the cost of the watercraft, minimum EUR 225
Lease term:

  • For yachts and watercraft, to be registered in the ship register, up to 120 months
  • For launches and other watercraft, to be registered in ARK, up to 72 months

Residual value

Motorboats Yachts and sea launches, to be registered in ship register
Lease term Maximum residual value Lease term Maximum residual value
12 months 65% 12 months 70%
24 months 55% 24 months 60%
36 months 45% 36 months 50%
48 months 35% 48 months 40%
60 months 30% 60 months 35%
72 months 0% 72 months 30%
  84 months 25%
96 months 20%
108 months 15%
120 months 10%

Lease payment

You can calculate an approximate lease payment with the help of lease calculator. Keep in mind that property insurance and civil liability insurance premiums are added to the lease payments.

Annual percentage rate as a typical example

The initial annual percentage rate of charge of watercraft leasing (financial lease) is 5.64% under the following sample conditions:

  • price of vehicle, EUR 30,000 (VAT included);
  • down-payment EUR 6,000 (20% of the cost of vehicle);
  • residual value 0% of the cost of vehicle;
  • total amount of credit taken into use EUR 24,000 (VAT included);
  • interest rate 5.00% p/a on credit balance (the interest rate consists of 6 month EURIBOR and a margin of 5.00%; as at 3 March 2017, the 6 month EURIBOR rate was –0.237% (when calculating the interest, the negative EURIBOR value is considered equal to zero); the EURIBOR fixed in the contract may change every 6 months, the margin is fixed until the end of the contract);
  • repayment within 5 years in 60 monthly annuity payments;
  • contract fee EUR 225 is paid upon conclusion of the contract.

The total amount of repayments payable by the client is EUR 27,226.20 and total amount is EUR 33,479.16.
Possible property registration costs, state fees, price of the valuation report and the annual premiums of property and civil liability insurance insurance were not considered in the APR calculations.


Applying for lease

To apply for the lease, send us a lease application. First, we advise you to familiarize yourself with the watercraft leasing conditions.

There are several ways to submit your application

  • Fill in an electronic application in Internet Bank or on our homepage.
  • Send us a message, if you would like consultation at a bank office. A private advisor will contact you and agree on the time for consultation.

When applying for leasing, present the following documents

  • Application either electronically or on paper
  • An account statement for the last 6 months, if your salary is not received in SEB
  • Personal data sheet, filled in by the guarantor (EST), if you apply for a leasing together with the provider of surety
  • Sales offer, including the specification of the watercraft, accessories, price and time of delivery
  • Upon acquisition of used watercraft, a valuation report from authorised sales representative and a copy of the certificate of registration

A leased water craft shall be insured.

Requirements for the insurance contract of leased property:

  • The insurer shall be an insurance undertaking accepted by SEB
  • The vehicle shall be insured throughout the entire lease period, at least to the extent of the sum corresponding to the market value
  • The insurance contract shall be concluded for a period of one year
  • The insurance contract shall be concluded with the smallest excess allowed by the insurer
  • In the insurance contract, AS SEB Liising shall be noted as the beneficiary
  • The insurance policy for a water craft shall contain insurance cover against fire, storm, collision, theft and vandalism
  • The conditions of the insurance contract shall ensure the full payment of the benefit in the case of the sinking of the water craft
  • In addition, civil liability insurance must be concluded for the lease period

To prove the validity of the insurance, please submit a copy of the new insurance policy to SEB within five days prior to the end of the valid insurance policy, at the latest. You may send it to the e-mail address or fax it to 665 5103

Should you have any questions during the validity term of the lease agreement or you wish to submit an application, then please contact us via Internet Bank or send a message from our homepage.

All fees, related to the lease agreement, can be found from the price list.

Amendment of lease contracts

To make amendments to the contract, submit us a written application. 

Lease invoices

We shall send the lease invoices to Internet Bank, e-mail or postal address. Inform us of your preferred choice in a letter.
For more convenient payment of lease invoices we recommend e-invoice with automated standing order service.
You will find information on your current lease contract and payment schedule in Internet Bank.

Terminating financial lease and hire purchase

  • The lease term shall end with payment of the last lease payment. After all lease payments have been made and if, according to our knowledge, there are no additional claims against the vehicle (e.g. parking fine, fine for speeding), we shall send you a document for terminating the lease contract. On the basis of this document you have to reregister the vehicle in ARK and become the owner of the car.
  • If you have concluded financial lease with residual value, you will pay the residual value together with last payment. It is possible to apply for extension of the lease term for the payment of residual value in instalments.

Valid from 01.07.2015

  Price in euros
1.Entry into contract  
Enrty into contract, incl.
  • lease contract
  • service lease contract
  • debt agreement
1% of acquisition cost of lease item, min EUR 225
2. Amendment of contractual conditions  
Amendment of contract, incl.
  • extension of lease term
  • change of payment schedule
  • transfer of contract to new lessee
  • other contractual changes
1% on outstanding residual value*,
min EUR 160
Conclusion of new contract on the residual
value of ending contract
1% on contractual amount, min EUR 160
Amendment of payment day of a valid contract
upon client's request (first amendment free of
EUR 30
3. Powers of attorney, certificates, other VAT to be added
Unattested power of attorney EUR10
Notarised power of attorney EUR 75
Notice on breach and cancellation of contract EUR10
Invoice handling of motor TPL insuranc EUR 10
Proceedings of claim arising from violation of
parking rules
EUR 25 + incurred costs
Proceedings of claim, arising from violation of
traffic code
EUR 25 + incurred costs
Confirmation for subleasing property EUR 35
Cancellation / amendment of property
redemption invoice upon client's request
EUR 10
Balance confirmation EUR 10
Issuing a report upon client's request (invoices,
receivables, etc)
EUR 25
Making a copy of and forwarding a contract
upon client's request
EUR 10
4. One-time use of services under lease
contract (service not included in contract)
VAT to be added
Loss adjustment EUR 85
Change of tyres and storage (one-time change
and 6-month storage)
EUR 60
Change of tyres EUR 45
Transport of tyres within the city to the storage
(4 tyres)
EUR 19
Maxi-service of technical maintenance and
repair (incl. one-time pick-up and drop-off of
vehicle to/from the workshop)
EUR 60
Administration of invoices EUR 10
5. Pre-term termination of lease contract  
Early repayment of private lease contract
(contracts concluded after 01.07.2011 incl.)
As per contract
Pre-term termination of legal person's lease
contract with fixed interest
2.5% on outstanding residual value*,
min EUR 225;
difference of interest within the cost incurred from early
repayment of credit
Pre-term termination of legal person's lease
contract with variable interest (contracts
concluded before 30.06.2011 incl.)
2.5% on outstanding residual value*,
min EUR 225
Pre-term termination of legal person's lease
contract with variable interest (contracts
concluded after 01.07.2011 incl.)
As per contract

The precondition to providing the services applied for by the lessee is due fulfilment of contractual
The establisher of the price list reserves the right to make changes to the price list.
VAT shall be added to commission fees pursuant to Value Added Tax Act and other state and local fees
pursuant to the established legislation.
* Outstanding residual value means the total sum of outstanding payments and residual value, VAT

Base rates

Valid as 19.07.2018
1-month EURIBOR® -0,3690
3-month EURIBOR® -0,3210
6-month EURIBOR® -0,2690
12-month EURIBOR® -0,1790
EONIA® -0,3660
Bank's base interest 0,0000
EURIBOR® historical data
EONIA® historical data



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