Home small loan

This collateral-free loan is granted for the purchase, repair and reconstruction of real property

  • You may borrow up to EUR 20,000 for furnishing or repairing your home;
  • Suitable if you want to purchase land plot for a garden, parking lot, garage, pantry, etc.;
  • Monthly payments will be lower as you may take the loan for a period of up to 10 years;
  • Collateral is not required, loan may be repaid before maturity without fines or additional fees.
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Sum
Term

Please note, that by using financial services you assume financial obligations. Improper execution of financial obligations may adversely affect your credit history and raise the cost of borrowing, and it can also cause initiation of enforced recovery.

We recommend carefully assessing personal and (or) family’s financial possibilities before making a decision on loan and the amount thereof. Monthly payments to cover your (family’s) financial obligations for each month should not exceed 30-40% of your income.

If you would like to get more information about loan conditions, to accurately assess personal financial situation or you have other questions related to desired loan, please visit the nearest “Swedbank” Customer Service Branch or contact us by phone 1884.

Monthly payment
219.26 Eur
Sum 5000 - 20000Eur
determined individually depending on your (family’s) income and financial obligations
Interest rate All related information provided in tab “Interests and fees”.
Term From 6 months to 10 years May be repaid before maturity without additional fees.
Collateral Not required
Other conditions
  • When purchasing real property is the purpose of a loan, it is required to register purchased real property on the name of the borrower in The Real Property Register and Cadastre of the Republic of Lithuania in 90 days from the date of loan agreement signing.
  • When repair is the purpose of a loan, the customer or the co-borrower must be the owner of real property to be repaired on the day the loan is granted.

Example of calculation of the annual percentage rate of charge

If you applied for a home small loan amounting to EUR 10,000 with credit agreement duration (and loan repayment term) of 10 years with the fixed annual interest rate of 11 % and the following applicable fees: a minimum daily services fee (EUR 0.70 per month) for natural persons’ as established by the Bank; agreement administration fee of EUR 100; monthly payments of EUR 138 using annuity method, then, the total consumer credit annual percentage rate would be 12.2 %, and the total amount paid by the consumer credit receiver would be EUR 16,835.

Calculations of the annual percentage rate of charge and the total amount payable by the borrower are based on assumptions that the total credit amount will be disbursed by the Bank to the borrower on the day of signing the Credit agreement, the parties to the Credit agreement will fulfil their obligations arising from the Credit agreement in observance of the terms and conditions established therein, the annual interest rate, the amount of fees and other charges will be the same as at the time of concluding the Credit agreement and will apply until the expiration of Credit agreement.

Borrower eligibility requirements:

  • If you take a loan by yourself, your income must be at least EUR 350 per month after tax.*
  • If you take a loan with a co-borrower, total income of a family (co-borrower) must be at least EUR 725 per month after tax. Co-borrower’s application may be filled in here.
  • You must be earning a steady income for at least 6 consecutive months. If you started working for a new employer, your probation period must be over.
  • If the expected source of repayment is not a salary/wage, official documents, evidencing the receipt of the income will be required. You must submit these documents upon arrival to the bank branch.
  • Your monthly expenses for covering your credits do not exceed 40% of your monthly income.
  • You do not have outstanding credits in “Swedbank” or from other creditors or outstanding bills for different services.
  • When purchasing real property is the purpose of a loan, it is required to register purchased real property on the name of the borrower in The Real Property Register and Cadastre of the Republic of Lithuania in 90 days from the date of loan agreement signing.
  • When repair is the purpose of a loan, the customer or the co-borrower must be the owner of real property to be repaired on the day the loan is granted.

*If your income is not transferred to “Swedbank” bank account and you do not agree for the bank to verify your data in “Sodra” database, you will have to additionally submit certificate from “Sodra” about your current employer, insured income, and allowances received within the last 6 months.

How to get the loan:

  1. Submit your loan application on internet bank. Co-borrower’s application may be filled in here.
  2. Receive the confirmation of the decision regarding the loan via SMS message or by phone on the next business day.
  3. If the amount of the loan is up to EUR 10,000, sign loan agreement on internet bank.
  4. If you have electronic signature, you may sign the agreement on internet bank for a larger loan amount (up to EUR 20,000). You may also conclude the agreement upon visiting the nearest bank branch.
  5. Money will be transferred to you immediately after signing the agreement.

Interest rate

  • 3 to 5 percentage point lower interest rate shall be applied to home small loan as compared to the regular Swedbank consumer loan (discount for interest rate mentioned depends on the sum of the loan);
  • Upon applying the discount, final interest rate applicable to the customer may start at 8%;
  • Interest rate shall be determined individually for each customer depending on the sum of the loan, customer’s credit history, loyalty to the bank, etc.;
  • Interest is paid from the total outstanding amount of the loan granted.
  • Fixed interest rate for the entire agreement period, unless the discount for interest rate is cancelled in case of failure to register real property in Real Property Cadastre and Register of the Republic of Lithuania till the date specified.

Important

  • When purchasing real property is the purpose of a loan, it is required to register purchased real property on the name of the borrower in Real Property Cadastre and Register of the Republic of Lithuania in 90 days from the date of Credit agreement signing.
  • In case of failure to register the property on time, the bank shall have the right to cancel the discount for interest rate and apply standard consumer loan interest rate, or, you may repay the loan before maturity without any additional charges.

Fees

  • A one-time fixed agreement administration fee – 1 % from the amount of the loan (minimum fee – EUR 95);
  • You need to have or open a bank account at “Swedbank”. Account maintenance fees may be found in bank account agreement concluded with the bank as well as in bank’s fees published online.
  • You may repay the loan before maturity free of charge.

Typical example of calculation of the annual percentage rate of charge

If you applied for a home small loan amounting to EUR 10,000 with credit agreement duration (and loan repayment term) of 10 years with the fixed annual interest rate of 11 % and the following applicable fees: a minimum daily services fee (EUR 0.70 per month) for natural persons’ as established by the Bank; agreement administration fee of EUR 100; monthly payments of EUR 138 using annuity method, then, the total consumer credit annual percentage rate would be 12.2 %, and the total amount paid by the consumer credit receiver would be EUR 16,835.

Calculations of the annual percentage rate of charge and the total amount payable by the borrower are based on assumptions that the total credit amount will be disbursed by the Bank to the borrower on the day of signing the Credit agreement, the parties to the Credit agreement will fulfil their obligations arising from the Credit agreement in observance of the terms and conditions established therein, the annual interest rate, the amount of fees and other charges will be the same as at the time of concluding the Credit agreement and will apply until the expiration of Credit agreement.

Payments are automatically debited from your “Swedbank” bank account.

You may choose:

  1. When to start repaying the loan:
    • right away (on the same month loan agreement is signed);
    • on calendar month following the month loan agreement was signed (interest is paid right away).
  2. Day of the month (3, 7, 12, 17, 22 or 27) loan payments shall be debited on each month;
  3. Loan maturity term up to 10 years during which the loan granted must be repaid.

You may repay a portion or the entire credit before maturity regardless of the loan term selected.

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