Home small loan

• Suitable for purchasing flat, summer house, land plot for garden, parking lot, garage, pantry, etc.
• Perfect for a major repair, much-needed remodel or general home improvements in your owned real estate.
• Home small loans from 5 000 to 20 000 EUR.

• Loan period up to 10 years, so monthly payments may be lower.
• May be repaid before maturity without additional fees.
• No collateral required.
• Choose your preferred payment date.
• Money transferred immediately after signing the contract.
• Property valuation not required.

Land with buildings to be improved has to be registered in your name in the land register and not mortgaged for the benefit of third parties before applying for a loan for repairing, renovating or building purposes.

1. Fill out the application on the Internet Bank or at any Swedbank branch.
2. We will inform you about the decision by phone, via SMS or internet bank message.
3. You can get acquainted with the terms of the agreement in the Standard credit information provided via the Internet bank.
4. If the conditions are acceptable to you, sign the agreement in the Internet bank or Swedbank branch.
5. We will transfer money to your account immediately after signing the agreement.

Register the purchased real estate in your name in the land register within 90 days after signing the loan agreement. Otherwise, standard consumer credit rate will be applied to your loan.

Income

• If you take a loan by yourself*, your income must be at least 450 EUR per month after tax.
• If you take a loan with a co-borrower, total income of a family (co-borrower) must be at least 800 EUR per month after tax.
• You must be earning a steady income for at least 6 consecutive months and your probation period must be over.

Obligations

• Monthly expenses for covering your credits must not exceed 40% of your monthly income.
• No outstanding credits in Swedbank or other creditors or outstanding bills.
• Be ready to submit the the official documents at a branch evidencing the receipt of the income if the expected source of repayment is not a salary/wages.
• Where the currency of the major share of your earnings is not EUR, the granting of a home consumer loan for the purchase of real property may be restricted in certain cases. All these cases are evaluated individually in order to properly assess the customer’s financial situation, its stability and earnings sustainability.

• Fixed interest rates in the range of 8-14% determined individually for each customer depending on the amount of the loan, customer’s credit history, loyalty to the bank.
• Interest is paid from the total outstanding amount of the loan granted.
• Contract fee 1% of loan amount; at least 95 EUR.
• You should have active Swedbank account. All information about handling of accounts fees is published on bank fees section.
• If the purpose of the loan is the purchase of real property, an account may be a Limited Use Account. A Limited Use Account is an account opened at the Bank of the Credit receiver at the terms and conditions established by the Bank, including limited functionality, which is targeted only at making payments of the loan agreement, accumulate necessary funds and administrate the loan.

• Loan payments are automatically debited from your Swedbank account or limited use account on the basis of annuity schedule within the agreed term by means of pre-determined monthly payments on your determined payment date (3, 7, 12, 17, 22 or 27).
• Loan term from 6 months to 10 years.
• The process of debiting a borrower’s account with the amount payable under a credit agreement begins at 17:45 on the payment day specified in the agreement. Make sure you have sufficient funds available in the account.
• Possibility to make early repayments without any additional fees.

• 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.