Consumer loan

You can apply for a loan, if

• your monthly income is at least EUR 300
• you are aged 18 to 75
• you are an Estonian citizen or live in Estonia on the basis of a residence permit

You do not have to be a client of LHV to apply for a loan and enter into a loan agreement. You can also make loan payments from your home bank account.

If you have a temporary residence permit, you can enter into a loan agreement with a repayment period that lasts up to the maximum duration of your residence permit.

If you need to submit an account statement, we will let you know. We will guide you through the application process on how to do it. In this case, you must submit the statements of all other banks besides LHV where you are settling. You can submit the statement automatically when preparing the application or send it by e-mail at finance@lhv.ee.

The interest rate is fixed for the entire loan repayment period and does not depend on a change in the Euribor. This way you can be sure that the amount of your monthly loan payment will not change.

• Interest calculated on the outstanding loan balance means that interest is calculated each month on the part of the loan that has not yet been repaid. As the outstanding loan balance decreases with each payment, the interest part of the monthly payment also decreases over time. The more you have repaid, the lower your monthly interest cost will be.

• Interest calculated on the credit amount means that interest is calculated on the original credit amount for the entire loan period. As a result, the interest part of each monthly payment remains the same and the repayment schedule stays stable throughout the loan period.

If you make a larger partial premature repayment under a loan agreement where interest is calculated on the credit amount, the interest payment will not decrease, as the interest does not depend on the outstanding loan balance but on the original credit amount. However, the outstanding principal balance will decrease, meaning that the principal part of future payments will be lower and, as a result, the monthly payment will decrease.

In both cases, the loan terms and the method of interest calculation are clearly stated in the agreement, so that you have a full overview of the costs related to the loan before making a decision.

Once we receive your application, we will send you a loan offer by e-mail that is valid for 14 days. Within the offered loan amount, you can conclude one or more loan agreements, which can be comfortably done without leaving your home in our self-service environment.

The agreement can only be signed digitally. If you are unable to sign digitally or encounter a technical issue, please contact us – we will help identify the cause of the problem and find a solution together.

We will inform you of the need for identification when concluding the contract. You can identify yourself at our client office or at the Euronics store.

Information about the size and payment date of the first payment will be sent to you by e-mail after signing the agreement. This information is also available in the payment schedule of your loan agreement. If you are unable to find the necessary information, please call 699 9119 or write to finance@lhv.ee.

Interest on the first payment is calculated on the basis of the number of days between the date of conclusion of the agreement and the first payment date. If the time between the conclusion of the agreement and the first payment date is longer than 30 days, the calculation period of interest on the first payment will be longer than usual and therefore the payment will be higher. It depends on the time of entering into the agreement and the payment date chosen by you. For subsequent payments, interest is calculated for 30 days.

We will send you the invoice by e-mail or regular mail every month up to five days before the payment date. If you have also requested an e-invoice, we will send it to the Internet bank of your choice.

Please make the payment to the AS LHV Finance account EE707700771001062897. Indicate the number of your loan contract as the reference number.

The most convenient way to make your monthly payments is to use the automatic e-invoice standing order service. To do this, you can sign a contract in the Internet Bank of the bank from which you want to make your monthly payments.

You don’t have to wait for the invoice to make monthly payments. If you have not received an invoice, see the exact amount in the payment schedule of your agreement and transfer this amount to the AS LHV Finance account EE707700771001062897.

We will send you an invoice every month up to five days before the payment date. If you have already made the payment before receiving the invoice, it will be reflected on the invoice as a prepayment.

The instalment must be received in the AS LHV Finance account on the payment date agreed in the agreement at the latest. If you make the transfer exactly on the payment date and use the reference number specified in the agreement, it will arrive on time.

If you forgot to pay the invoice by the due date, please do it so as soon as possible. Please transfer the amount of the instalment to the AS LHV Finance account EE707700771001062897 and enter your agreement number as the reference number.

The most convenient way to make your monthly payments is to use the automatic e-invoice standing order service. You will learn how to do this in the answer to the next question.

For automatic payments, sign an e-invoice standing order service agreement in the Internet Bank of the bank from which you want to make these payments. In the future, you don’t have to worry about getting your invoice paid on time. Make sure that there is enough money available in your bank account on the payment date to make the payment.

Information that may be needed for ordering an e-invoice and concluding a standing order agreement:
Invoice issued by: LHV Finance
Account number: account from which you want to make payments
Customer ID: agreement number
Expiry of subscription: leave this field empty
Invoice payment select automatic payments
Standing order date: date of receipt of invoice
Limit: leave this field empty

If you wish to change the agreement period, please send your request by e-mail to finance@lhv.ee. It costs EUR 25 to amend your agreement. This amount will be added to your next invoice.

If you wish to change the payment, please send your request by e-mail to finance@lhv.ee. It costs EUR 25 to amend your agreement. This amount will be added to your next invoice.

If the payment date specified in the agreement is no longer suitable for you, you can change it. You can choose the 5th, 10th, 15th or 20th date to make payments. Please send your request by e-mail to finance@lhv.ee.

If you have lost your job, had a pay cut or other difficulties, we offer you the opportunity to take a grace period of up to six months. During this time, you only need to make interest payments. Please send your request by e-mail to finance@lhv.ee.

The loan can be repaid prematurely, either partially or in full, free of charge.

• In case of partial premature repayment, the outstanding loan balance will decrease and your future monthly payment will be lower.
• In case of full premature repayment, the loan agreement will end after the full outstanding loan balance has been paid and no further payments will be due.

You can make a free premature repayment, either partially or in full. Before making the payment, please inform us by email at finance@lhv.ee or by calling 699 9119, so that the payment can be processed as a premature repayment and not as a regular prepayment.

If you are an LHV customer, you can conveniently end the agreement in the mobile app.

If you have lost your job, had a pay cut or other difficulties, we offer you an extension of the loan repayment period, thus reducing the monthly payment. It is also possible to take a grace period for up to six months. During this time, you only need to make interest payments. Please call 680 2700 or send a letter to finance@lhv.ee and together we will find the most suitable solution.

Please note that until the debt is paid in full, a fine for delay will be added to the outstanding amount. If you delay the payment of invoices, we have the right to assign you a debt processing fee in accordance with the price list and forward the debt information to Creditinfo Eesti AS (krediidiinfo.ee) and Krediidiregister OÜ (taust.ee). Please note that if you do not pay your invoices by the due date, it will prevent you from receiving loans in the future.

With a refinancing loan, you can combine all your small loans and hire-purchases into one loan. This way, you will have a better overview of your loan obligations and you can repay them conveniently with one monthly payment.

With refinancing, you can combine the loans of several creditors into one loan, the terms and conditions of which are more suitable for you. Your monthly obligations will decrease. You will also only make payments once a month and with a single invoice, which will give you a clearer overview of your obligations.

We refinance consumer loans and hire-purchases of various creditors.

In order to make a loan decision, we need a 6-month statement of your account, where your income is received and from which you will pay your obligations. We also need information about your obligations to be refinanced (e.g., consumer loans and hire-purchases), i.e., the name of the creditor and the balance of the loan amount. Our loan specialist will ask you for all the necessary information after you have submitted your application.

How much and to what extent we refinance your loan obligations will become clear after reviewing your application. Enter the amount of loan obligations you would like to refinance in the application.

When issuing a refinancing loan, we will transfer the loan amount to one or more creditors based on your consent, which you give by signing the agreement, in order to partially or fully terminate your loan obligations there.

We do not refinance a loan, the repayments of which are owed. Please contact the financial institution that issued the loan in order to reach an agreement on payment of the debt.

Information is available from our customer support by calling 699 9119 or e-mailing finance@lhv.ee. The working hours of customer support are Monday through Friday from 9 a.m. to 5 p.m.