Consumer Loan

 

 

Why choose?

  • Amount between EUR 500 and 12,000 EUR
  • Maturity between 6 and 60 months
  • No down payment, no collateral
  • Account is credited immediately after entering into the agreement
  • Equal monthly loan payments

 

* Example. Amount of the consumer loan: 3,000€; maturity: 5 years; interest rate: 14% p.a.; monthly payment: 69.80€; execution fee  2% of the loan amount; total amount payable: 4,188.37€; annual interest rate (AIR): 14.94%.

General Terms for Consumer Loan with Payment ScheduleOpens new window

Terms for Consumer Loan:
 
  • Maximum limit: 6 net monthly salaries (up to EUR 12 000).
  • Credit limit is set depending on your regular income.
  • redit currency: EUR.


Criteria for Granting the Consumer Loan:

  • The applicant must be in the age between 18 and 70.
  • Applicant's monthly income after taxes and payment of debt liabilities must be at least EUR 450.
  • Applicant must have received the salary in the account at Luminor Bank for at least 3 months.
  • Applicant's debt liabilities at Luminor and other banks, such as credit card credit limit, overdraft, housing loan.
  • The applicant must have a positive credit history.


Required Documents

  • Completed application form in Luminor Netbank or at our Customer Service Unit.
  • Passport or ID card.
  • Account statement and a statement from the State Social Insurance Agency (VSAA) on income in the last 6 months (possibility to order the statement at Luminor Bank).
  • Statement is not necessary if your salary is being transferred to your account at Luminor Bank.

 

Procedure of Granting Consumer Loan

  • Having received and examined the submitted application form and supporting documents the bank will decide on granting the consumer credit based on your credit history and debt liabilities.
  • In case of a positive decision the granted loan will be transferred to your account at Luminor.


 Repayment of the Consumer Loan

  • Choose repayment period from 6 to 60 months.
  • Choose the exact repayment date: 5th, 15th or 25th day of the month.
  • Repayment of the loan takes place automatically via transfer from your account specified in the contract.
  • A monthly payment consists of a payment of the principal amount and the interest.
  • Interest rate will be set depending on your customer status at the bank.
  • Interest is charged only on the outstanding balance of the consumer credit.
  • It is possible to repay the consumer credit before the end date specified in the contract without charge by submitting a written application at any Luminor Customer Service Unit or via Luminor Netbank under section Mail.

The example which depicts the total cost of your loan:

Amount of the consumer loan: 3,000€; maturity: 5 years; interest rate: 14% p.a.; monthly payment: 69.80€; execution fee 2% of the loan amount; total amount payable: 4,188.37€; annual interest rate (AIR): 14.94%.