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Car loan

Car loan

With the car loan, you can buy any vehicle suitable for you. The vehicle will then belong to you and optional motor vehicle insurance will not be mandatory.

  • Loan amount 1,000–15,000 euros
  • No collateral or downpayment
  • The fastest answer when applying in the Internet Bank
Car loan conditions
Loan amount

1,000–15,000 euros

The maximum amount of a car loan depends on your income and obligations.

If you want a loan of over 15,000 euros, we recommend a car lease.

Interest rate


You can influence the car loan interest rate. We charge you less interest on your loan if you:

Agreement fee 1.5% of the loan amount; a minimum of 35 euros
Loan term 6 months to 5 years
Grace period Up to 6 months
Requirements for an applicant

You can apply for a car loan if:

  • you are an adult citizen of the Republic of Estonia or if you have a permanent right of residence here or a residence permit for a long-term resident;
  • your regular and certified net income is at least 400 euros per month.
  • if you are not client of SEB or if your income is not received by SEB, submit an account statement for the last six months with the application.

You can also apply for a car loan with a co-applicant.

The car loan percentage rate of charge is 16.07% per annum under the following sample conditions:

  • the loan amount, which is paid upon conclusion of the agreement, is 5,000 euros;
  • the fixed interest rate is 14% per annum of the loan balance;
  • the loan is paid back over five years, in 60 monthly annuity payments;
  • the agreement fee, which is paid upon conclusion of the agreement, is 75 euros;
  • the monthly fee for the current account is 0.30 euros.

The amount of repayments paid by the customer is 7,010.55 euros and the total amount is 7103.55 euros.


  Car loan Car leasing
Loan amount 1,000–15,000 euros From 5,000 euros
Term Up to 5 years Up to 7 years
Agreement fee 1.5% of the loan amount; a minimum of 35 euros 1% of the price of the vehicle; a minimum of 225 euros
Self-financing Not necessary From 10% of the price of the vehicle
Vehicle valuation report Not necessary Necessary if the seller of the vehicle is not a partner of SEB
Optional motor vehicle insurance Recommended Obligatory
Loan Protection Recommended Not possible
Ownership The car belongs to the buyer; if the car is sold, the bank does not have to be notified The car is owned by the leasing company


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.


With the car loan agreement, you can voluntarily conclude an SEB Loan Protection, a PZU* optional motor vehicle insurance, and/or a traffic insurance agreement as well.

Loan Protection

SEB Elu- ja Pensionikindlustus and PZU* Kindlustus* offer insurance solutions in the form of loan protection, which ensure that the loan is paid back to the bank in the case of the insurant's loss of job, serious health impairment, loss of ability to work, or death.

Loan Protection for a car loan includes

  • life insurance cover, which gives a sense of security that if the insurant dies due to an accident or illness, the insurance company will pay the loan back to the bank;
  • severe health impairment cover, which can be applied for with the life insurance cover. With this cover, the insurance company will pay the loan back to the bank in the case of a severe health impairment (for example, loss of vision, paralysis, coma);
  • temporary disability cover, which will enable you to fulfil your loan obligations if you become temporarily incapacitated for work due to an accident or illness;
  • unemployment cover, which gives financial security for an unexpected period of unemployment. The insurance company will reimburse your loan payments under the terms of the insurance during unemployment or temporary incapacity for work.

Read more

Vehicle insurance

We mediate PZU*'s optional motor vehicle insurance and traffic insurance, with which the insurance premium can be paid together with the monthly payment. If you wish, you can conclude insurance agreements in the insurance company of your preference. Optional motor vehicle insurances and traffic insurances are not compulsory when taking a car loan, but we recommend entering into these agreements to avoid unexpected situations.

Read more

* PZU is the trademark of AB “Lietuvos draudimas” Estonian branch. AB “Lietuvos draudimas” is a Lithuanian non-life insurance company, belonging to the international PZU Group.
AS SEB Elu- ja Pensionikindlustus acts as the insurance agent of the Estonian branch of AB “Lietuvos draudimas”, and is entered in the list of insurance intermediaries published on the website of Financial Supervision Authority. The list is available at

1. Agreement fee  
private individual  

   consumer loan

1,5% of the loan, min EUR 35

   home loan

1% of the loan amount, min EUR 250


1,5% of the credit limit, min EUR 20

   student loan

free of charge

   mortgage loan

1% of the loan limit, min EUR 190
legal entity (incl. sole proprietor)  


1% of the credit limit, min EUR 200

   working capital loan

1% of the loan amount, min. EUR 200

   investment loan

1% of the loan amount, min. EUR 200
   start-up loan 1% of the loan amount, min. EUR 200

  apartment building renovation loan

1% of the loan amount, min. EUR 200
2. Fee for changing of contractual terms  
private individual  

   consumer loan (1)

EUR 35

   home loan, endowment loan (1)

up to 1% of the remaining loan, min EUR 190

   overdraft (1)

EUR 15
   mortgage loan up to 1% of the remaining loan, min. EUR 190

   limit loan (1)

up to 1% of the loan limit, min EUR 35

   amending the student loan repayment schedule

free of charge

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 of the paying day EUR 20
   extending the loan disbursement period EUR 50
   grace period for the principle amount of the loan

home loan and mortgage loan EUR 50;
consumer loan EUR 20

increasing the loan amount  
- overdraft 1,5% additional credit limit, min EUR 20
legal entity  (incl. sole proprietor)  
- increasing the loan amount/limit 1% additional loan amount/limit, min EUR 200
- changing of contractual terms 1% of the remaining loan /limit, min EUR 200
3. Contractual penalties  
private individual  
- 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
legal entity  
- 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).


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

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 partnerwho 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. A consumer loan will be paid out or overdraft opened 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 and overdraft is fixed for the entire loan period. For a consumer loan, the interest is paid on the outstanding loan balance, for overdraft on the used loan limit.

6. Loan repayment

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 loanis 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.

For an overdraft , you repay the used part of the 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.

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 and pay a contractual fee, which is 0.5–1% on the prepaid amount.

No contractual fee applies to the early closing of an overdraft.

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

If the time of use of the overdraft is extended automatically, you will be charged the fee noted in the agreement.

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. YYou 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 Board (Pronksi 12, 10117 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 Board or turn to court. A complaint to the Consumer Dispute Committee can also be submitted digitally via Online Dispute Resolution website at



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