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Energy loan for Coop Pank customers

As an Estonian bank, we support our customers even during the difficult times. The steep rise in energy prices has led to high heating and electricity bills, and many Estonians can’t afford to pay all of them at once. The energy loan, with its low 1% interest, is a simple and affordable option to spread the payment of bills over a longer period.

Applying for the Energy loan

1. If you don’t have an account in Coop Pank yet, open one here:

Become a client

2. Submit an Energy loan application

Submit application

3. Pay your next heating and electricity bills from your Coop Pank current account

Interest rate: 1%

The loan interest is 1% per year. We made it as affordable as possible. For example, if you borrow €700 for 6 months, you will pay back €702.04.

Deadline: 6 months

The repayment period is 6 months. However, you always have the option to repay the loan early and it’s completely free of charge.

Amount up to €1,000

We offer the loan in the amount of €300-1,000. Choose an amount that is sufficient to pay the higher energy bills for the winter months, but affordable to pay back within 6 months.

Contract fee: €10

A one-off fee of €10 must be paid at the time of signing the agreement, which will be deducted from the amount of the loan to be paid out.

More information

  • No collateral required
  • Fixed annual interest rate 1% on loan balance
  • Loan amount €300-1,000
  • Loan period 6 months
  • Agreement fee €10
  • Agreement management fee €0 per month
  • The applicant must be at least 18 years old and an Estonian citizen or a foreign national holder of a residence permit
  • You have a current account with Coop Pank
  • Your age at the time of expiry of the loan agreement may not exceed 75 years
  • Monthly income from €400
  • No payment defaults

The maximum loan amount depends on your monthly income and obligations.

We will ask you to send us your account statement if necessary. We accept digitally signed account statements for the last six months (in bdoc, asice format), which include information about all income and expenses. You can download it from the Internet bank of your home bank. Please upload the statement in self-service or e-mail it to

When entering into a small loan agreement, the borrower can sign an agreement for payment of insurance costs and benefit from the insurance cover provided by If Kindlustus.

Small loan insurance helps if:

•    you lose the capacity for work as a result of an accident or illness;
•    you lose your job;
•    you have been temporarily away from work due to your own or your child’s illness.

In the event of the borrower’s death, insurance will pay the loan balance to the lender so that the obligation will not transfer to the heirs.

Read the information leaflet and insurance terms and conditions.

•    What should I do in the case of an insured event?

In the case of an insured event, fill in a loss report as soon as possible and write the following in the policy number field: COOP. You will be contacted and instructed on what to do next.

•    Example of expenses related to small loan insurance

Small loan insurance means an additional monthly expense. For example: loan amount €1,000, agreement period 24 months, number of repayments 24, fixed interest rate 19.9% per year calculated on the loan balance, monthly loan payment €52.35, monthly service fee for covering insurance expense €4.19. 

Loan agreement

You can view the details of your loan agreement here.

Loan payments

Please pay your loan payments to account number EE384204278603522603 of Coop Finants AS. Please don’t forget to add the reference number, which you will find from your agreement or e-invoice, when making the payment.

Every month, we will send you an e-invoice that you’ll find in the Internet bank of your home bank. The e-invoice will be sent automatically to the bank to which your loan amount was transferred. For a more convenient payment, we recommend an e-invoice standing order agreement.

Amendment to agreement

  • Changing the payment date

The payment date can be the 1st, 5th, 10th, 15th or 20th day of the month.

  • Grace period

You can request a grace period if necessary. The length and the terms and conditions of the grace period are determined in consideration of your requirements and possibilities.

You can apply for a grace period here.

  • Early repayment

The loan can also be repaid before the deadline of the agreement.

In order to amend the agreement, submit the respective request in self-service, email the request to finants@cooppank.eebranch of Coop Pank. The fee for amendment of the agreement is calculated according to the price list.

Late payments

If an instalment is not paid by the due date, we will send you a payment reminder via text message. The costs and default interest related to an overdue payment are calculated according to the price list. If you experience long-term problems with making payments, we recommend that you contact the bank to find a suitable solution.

Please read the terms and conditions of the financial service and consult a specialist, if necessary, before you sign the agreement.

The annual percentage rate of charge (APR) for a Energy loan is 6.13% per annum, based on the following sample conditions: loan amount €700, contract period 6 months, number of repayments 6, fixed interest rate 1% per year on the loan balance, contract fee €10, monthly management fee €0, monthly instalment €117.01, total amount of credit €712.04 and total amount of repayments €702.04. The small loan is offered by Coop Finants AS.