Open website’s mobile version Top

Private

Overdraft

Overdraft

Loan for unexpected outgoings

  • Apply quickly and easily in the Internet Bank
  • Flexible repayment schedule
  • Interest paid only on the limit used

After you sign the overdraft agreement, we open a loan limit for your current account and you can use it in any way you want. 

Terms and conditions
Overdraft limit Starts from EUR 200.
The maximum overdraft limit depends on your income and existing obligations.  
Interest rate 19% of used loan limit per year.
You only pay interest for the days when you used the overdraft limit.
The overdraft interest rate is lower for people whose SEB Plan contains the relevant discount.  
Limit fee 1% of total loan limit per year
Agreement fee As shown in price list
Term One year. Extends automatically, unless you or the bank have requested termination of the overdraft agreement.
Annual percentage rate as a typical example The annual percentage rate of charge of an overdraft is 26.84% under the following sample conditions:
  • the credit limit EUR 1000 is immediately fully taken into use;
  • fixed interest rate 17% p/a on the used credit amount;
  • limit fee 1% p/a on the total limit;
  • repayment within one year in 12 monthly instalments;
  • contract fee EUR 20 is paid upon conclusion of the contract;
  • monthly fee of current account EUR 0.30.  
The total amount of repayments payable by the client is EUR 1,092.90 and total amount is EUR 1,127.68.

 

How to apply

The easiest and quickest way is to fill in an overdraft application in the Internet Bank.

You can also submit a paper copy of your overdraft application to your nearest SEB branch.

We will quickly inform you of our decision. We usually make our decision in three business days if we have all the necessary data.

Requirements for applicant

You can apply for an overdraft if

  • you are an adult citizen of the Republic of Estonia or hold a long-term residence permit; and
  • your net income is at least EUR 350 per month.  
   
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

   overdraft

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

   student loan

free of charge

   mortgage loan

1% of the loan limit, min EUR 150
legal entity (incl. sole proprietor, farmer)  

   overdraft

1% of the credit limit, min EUR 175

   working capital loan

1% of the loan amount, min. EUR 175

   investment loan

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  
private individual  

   consumer loan (1)

EUR 35

   home loan, endowment loan (1)

up to 1% of the remaining loan, min EUR 150

   overdraft (1)

EUR 15
   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;
consumer loan EUR 20

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  
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).
(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.

 

Borrower’s checklist and additional information 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 a proper homework:

  • consider for what and how much loan you need and what would be your sources for repayment;
  • submit us true and adequate information;
  • make it clear for yourself which costs are involved in borrowing;
  • consider with the possibility that your financial situation may deteriorate and you must be able to repay the loan also when it happens;
  • examine carefully all loan documents (agreement, information sheet, etc,) before signing;
  • there are no unsolvable problems and situations, but there are different options – we are your partner, who you should contact well in advance even if you encounter problems with repaying the loan.

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.
 

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


1. Standard European Consumer Credit Information

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.

2. Solidary liability of several borrowers

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.

3. Loan currency

We issue the loan in the currency of your residence in Estonia, i.e. in euros.

4. Loan disbursement term and conditions

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.

5. Right to withdraw from the agreement

After signing the agreement you may still withdraw from it within 14 days on conditions set out in the agreement.

6. Interest

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.

7. 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 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.

8. Early repayment

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.

9. Amendment of conditions of your loan agreement

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.

10. Special conditions of the 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.

11. Consequences and costs of violating the loan agreement

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).

12. Cancellation of the agreement and the consequences thereof

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.

13. 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 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.

14. 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. Your regular income must be transferred to your current account at SEB Pank.

15. Risk of possible decrease in solvency of the borrower

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.

16. 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 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?....

Base rates

Valid as 14.12.2017
1-month EURIBOR® -0,3710
3-month EURIBOR® -0,3310
6-month EURIBOR® -0,2710
12-month EURIBOR® -0,1920
EONIA® -0,3620
Bank's base interest 0,0000
EURIBOR® historical data
EONIA® historical data

Contact

S|E|B

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.