- 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%.
- 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.
- 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%.