LOAN TERM AND CONDITIONS FOR A PRIVATE PERSON

1. Application for a loan may be submitted by Estonian citizens or holders of a long-term residents’ residence permit or a permanent right of residence who are at least 18 years of age.


2. The following requirements shall be met by loan applicants:


2.1. Regular and controllable net income shall be at least 280 EUR per month.


2.2. Preferably, a regular flow of income shall have been arriving into a current account with Tallinn Business Bank for the last three months.


3. The ground for a loan to be granted shall be submission of the proper collateral, for instance, by way of a pledge of the property owned by the loan applicant / the third person or by way of a suretyship / guarantee of the third person. The collateral value, as estimated by the independent appraiser approved by the bank shall exceed the amount of the loan applied. The bank approves the following as a loan collateral:


• term deposit at the Tallinn Business Bank;


• suretyship or guarantee granted by the third person;


• mortgage;


• possessory pledge;


• registered security over movables;


• pledge of securities;


• revenues into the current account with the Tallinn Business Bank.


4. When calculating interest, it is based on the year of 360 days.



For further information, please contact loan manager.