What is a small loan useful for?
A small loan is ideal if you start your own business, buy whitegoods or household electronics, carry out renovations, cover the cost of medical treatment.
Conditions for receipt of loan
To apply for a small loan, the average certified monthly income of the applicant in the last six months must be at least €300.
If your income is not paid to an account in Swedbank, you need to provide us the account statement for the last 6
months from the bank where your income is paid to. We also assess your previous payment behaviour.
Total of your loan and leasing payments may, depending on the size of your income, form 30-45% of your regular and certified income.
You can take a small loan in addition to your existing obligations provided that the outstanding loan balance and extra amount do not exceed €20,000.
Interest rate 15–24%
The interest rate depends on your income, obligations and the loan amount. Interest is calculated on the loan balance.
Loan for co-borrowers
It is possible to take a small loan both alone, as well as with a co-borrower. The co-borrowers have to be part of the same household, and their combined average proven income of the last 6 months has to be at least €700 a month. Both co-borrowers are solidarily liable for repaying the loan.
Repaying and amending the loan
The loan must be repaid in monthly payments within the loan term agreed on. You can determine the payment day
yourself and you can also repay the loan before the end of its term. To do so you need to send us a bank message
via the Internet bank, submit an application at a bank branch or make the change yourself by logging in to the Internet
bank (Loan, leasing, credit card > My obligations > Contract > Amend/Terminate. By selecting ‘Amend’ you can change
the account used to service the loan and the payment day and return the loan amount in part. ‘Terminate’ enables you to repay
the loan amount in full.) In the event of early repayment we will debit the necessary amount from your current account after accepting the application.
A fee pursuant to the price list
will apply to early repayment or if you wish to make any changes to the loan conditions.
Loan term and repayment holiday
The small loan term is minimum of 6 months and maximum of 5 years. Should you run into solvency problems you can
apply for a repayment holiday of up to six months. To receive a repayment holiday, you need to send us a bank message
via Internet bank or submit an application at the bank branch.
You can apply for several repayment holidays during the term of the loan.
The contract fee is 1.5% of the loan amount, but no
less than €35.