Young people and students

As a young person, your possibilities are endless!

Did you know that with us you get:

free payments up to and including the age of 25;
to use convenient digital solutions – app, proxy payment and contactless payments;
to do better choices by tracking your expenses with My budget and saving with the Easy Saver without even noticing it;
excellent discounts from our partners.

If your parent is a Swedbank customer, ask them to fill in an online application to open an account. Then they don’t have to come to the branch and can conveniently sign contracts in the Internet bank.
If your parent is not a Swedbank customer, ask them to book a time and come to the branch to open an account.
From the age of 7, an identity document (passport or ID card) is required to open an account.

You can open an account online or at a Swedbank branch. Opening an account online is very convenient for you: just fill in the questionnaire, make a video call with our employee and we will give you further instructions.

To open an account at the branch, please book a time in advance.

Open account digitally

For purchases up to €50, you can pay using the swipe function.
You can enable and disable the contactless payment option through our app or via the Internet Bank.

	Debit Card Plus	ISIC Mastercard Student Card	Revolving credit card
	Debit Card Plus with the contactless payment option is an ideal choice if you like to travel or shop in online stores. Learn more about the card	If you want to combine your student card and your bank card, then an ISIC card would be the best choice for you. ISIC allows you to use thousands of discounts in Estonia and abroad, and shop in online stores. Learn more about the card	If you want to have cash reserve for travelling or covering unexpected major purchases, we recommend that you order a Revolving Credit Card. Learn more about the card
Card opening fee	0EUR*	6,33EUR
Monthly fee	0EUR (6–19 years) 0,32EUR (20–25 years)	0,32EUR	0EUR (up to 25 years)
Card renewal	0EUR	6,33EUR
Contactless payment option
Purchase insurance
Interest-free period			Up to 30 days

You can find the price list of debit cards here.

You can find the price list of credit cards here.

*Opening the first debit card linked to your account is free of charge.

Saving helps you achieve the desired goals and provides confidence

Upon starting your independent life, it can be difficult to save money at first, but if you create a habit of saving, you will feel much more confident in case of any unexpected expenses. This way you can also prepare for bigger purchases or trips.

One way to save money conveniently is to use the Easy Saver. The amount of each card payment is rounded to the nearest full euro and the difference is transferred to your Easy Saver, so the more you pay with your Swedbank card, the more money will be transferred to your Easy Saver account. If you wish so, you can turn it on or off at any time and withdraw the saved money, if necessary.

Save for the future and benefit from your finances

Give your savings a chance to grow and invest regularly for the future. Starting with investments is easier than you think, and it doesn’t always require large sums, you can start even by 1 euro!

We have favourable conditions to start investing:

holding all securities in a securities account is free of charge*;
trading with the Baltic shares on the Internet Bank is free of charge;
keeping Swedbank’s funds in a securities account and making transactions with them on the Internet Bank is free of charge.

*Free storage for a portfolio of up to €30,000.

First academic studies

Student loan allows you to focus on your studies.

The conclusion of a student loan agreement is free of charge and the interest rate is only 5% annually.
You can conclude a student loan agreement between 1 August and 31 May.
In the academic year of 2020/2021, you can take a student loan in the amount of up to €2,500.

First major purchase

You have an excellent plan, but you are short of money? Do you want to purchase a new appliance, need a washing machine or have to cover any unexpected expenses? Find out more about whether these financing options would suit you.

Special offer for youth: Small Loan contract fee of €0.

First independent trip

Travelling broadens your horizons, provides invaluable experiences, and creates incredible memories. It is definitely a worthwhile experience to have a spontaneous weekend trip with friends or a thoroughly planned longer holiday. To ensure that your trip would go smoothly and safely, it is wise to save some travel money and have a travel insurance.

First home

Do you dream of your own home, where everything is exactly according to your wishes and taste? Read more about which loan to choose and what the application conditions are. Are you interested in the maximum sum you could borrow from the bank? Check from the calculator.

First car

If you want to buy your first car, either used or new, ask us for an offer. To enjoy a car ride with peace of mind, you should also take our traffic insurance and casco insurance with a wide cover.

Special offer for youth: Car Loan with a fixed interest rate of only 9.9%.

First business

If you have a good business idea that you want to implement, we will support you in every way. With us, you can conveniently perform daily operations on digital channels, in addition, you can use various contactless payment options. You can find a useful overview of setting up a company on the Enterprise Estonia website.

How to start saving?

For many people, saving and raising money might be a tough challenge, so we encourage you to read the following recommendations. This will make it easier for you to save money.

There are different ways to save

Set a clear goal

A specific goal motivates you to save a certain amount.

Make a plan

Calculate how much money you need to set aside each month to reach your goal.

Separate savings from the amounts spent daily

By doing so, there is no risk of spending money on spontaneous purchases.

Do not underestimate coins

Start collecting in small steps and save the returned coins separately.

Planning your budget

80/20 rule

Spend only 80% of the money you receive and save the remaining 20%. Use the 80/20 rule when planning your budget. Divide your income into at least two categories:

Expenses – 80% of the budget

Money you spend on a daily basis (e.g. lunch at school, sweets, magazines, etc.).

Savings – 20% of the budget

Money spent on more expensive things (e.g. smartphone, jeans, university tuition, etc.).

Distinguishing between wishes and needs

How do you know which things are the ones you really need and which you just wish to have? Try the following tip.

Divide your purchases into different categories (entertainment, food, etc.).

Usually, a need is something you cannot live without. Wishes, in turn, are everything else that do not fit under your needs.

It is generally said that you should spend about 50% of your income on needs and about 30% on wishes. If your current expenses do not meet this rule, you should review your categories or reduce your spending in both categories. You should be able to set 20% of your income aside.

When managing everyday finances, you must definitely think about security as well.

Always keep your card and PIN in a secure place.
Be sure to check the transaction amount before entering the PIN.
Make sure no one sees your PIN during payment.
When paying, always pay attention to the transaction.

Always set a screen lock and use it.
Use a different password for each website.
Use strong passwords that you remember.
Do not open emails from strangers.
Download apps only from official stores.
Do not disclose your personal information online.
Do not open suspicious websites.

If you decide to sign a legal document (e.g. a sports club membership agreement):

Read the entire document carefully.
Make sure you understand everything. If necessary, feel free to ask for more information.
After signing the contract, ask for or save a copy.
Please note that the provisions of the agreement are binding on you.

Payments and security

Check out the tips and tricks below to help you manage your daily finances more consciously

Try My budget that helps you keep track of your monthly expenses.

My budget allows you:

to view all transactions in one place;
to get an overview of your expenses by category;
to know on what you spend in order to make it easier for you to save.

To ensure that your wishes and the options provided by the bank would match, it is important to ensure that your credit history is positive. This will also be checked if you apply for a loan. You can consciously create a positive credit history yourself by demonstrating a sense of responsibility and reliability as you manage your finances. For example, you always make your credit card or student loan payments on time.

It is also important to know what activities may ruin your positive credit history. Ill-considered decisions and choices show a lack of planning skills and shortcomings in financial education. Read the article from Kukkur on what to avoid to keep your credit history in order.

Look here what to consider before taking a loan

Young people up to the age of 25 have the opportunity to benefit from favourable offers from our partners.

Read more about the offers of all Swedbank’s partners here.

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Kogumispäevik podcast

The economic blog Kukkur provides you with relevant reading and recommendations for managing your finances.

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