Home renovation loan

• No collateral required
• Fixed annual interest rate from 8.9% on loan balance
• Loan amount €300–15,000
• Loan period 6 months – 6 years
• Agreement fee 2% of loan amount, min €35
• Agreement administration fee €1.5 per month

• An applicant must be at least 21 years old and an Estonian citizen or a foreign national holder of a residence permit
• The borrower may not be older than 75 years of age upon expiry of the loan term
• Monthly income from €280
• Excellent credit record

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 or 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 finants@cooppank.ee.

You can submit a loan application online and at the branches of the bank nationwide.

You can sign the agreement digitally with your ID card, Smart-ID or Mobile-ID. To pay out the loan identification may be needed. This can be conveniently done via a computer or mobile phone, in branch of Coop Pank or a Coop store. For identification, you need an identity document (ID card, passport or driving license).

We will transfer the money to your account on the next working day at the latest. The money will be received in your account the same or the next banking day after we make the transfer irrespective of the bank.

Loan repayments

• 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.

• Early repayment

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

If you would like to amend the agreement, please submit a corresponding order in the self-service, send an e-mail to finants@cooppank.ee or go to a branch of Coop Bank. The fee for amendment of the agreement is calculated according to the price list.

Overdue payments

If we haven’t received a repayment by its due date, we will text you a reminder that the payment must be made. The costs and default interest related to an overdue payment are calculated according to the price list. If you find that making the repayments will be a longer-lasting problem, please contact us so we can find a suitable solution together.

Before you conclude an agreement, we advise you to review the terms and conditions of the financial service and, if necessary, consult a specialist.

The annual percentage rate of charge on a home renovation loan is 25.05% on the following sample terms: loan amount €2000, loan term in months 24, number of repayments 24, fixed interest rate per annum 19.9% as calculated on the loan balance, agreement fee €40, monthly administration fee €1.50, monthly instalment €104.18, total credit amount €2538,17 and total of repayments €2498,17. Home renovation loans are provided by Coop Finants AS.