Info  Dear client! Fraudulent phone calls and scam e-mails on behalf of banks are common, with scammers trying to gain access to a client’s bank account. Never enter PIN codes if you have not initiated the transaction yourself and remember that the bank will never ask for the PIN 2 code when entering the internet bank!

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Overdraft facility

Sometimes, you may have to pay some unexpected expenses and the money in your current account may not be enough to cover them. For example, a home appliance stops working. You can use the overdraft to cover these unexpected expenses.

You can use your bankcard to make payments, transfer money or withdraw cash to the extent of the overdraft amount.
 

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Further information

Terms and conditions
  • The agreement is concluded for up to 2 years
  • The interest rate is 18% per annum
  • The minimum limit is €300. The amount of the credit limit depends on the earnings and existing obligations but is not more than €3500
  • Minimum net income €350 per month
  • Payment behaviour to date has to have been appropriate
  • An applicant must be at least 18 years old and an Estonian citizen or a foreign national holder of a residence permit

An application may be submitted online, in the Internet bank or at the nearest branch.
After the application has been received, a bank employee will make contact to agree a suitable method for concluding an agreement.

See Coop Pank's price list.

Repayments

Interest on the credit limit drawn down has to be paid monthly. Interest is calculated daily on the amount of the overdraft facility in use.

Repayments on an overdraft facility may be made at the time and in the amount of one’s choice. Within the amount repaid, the credit limit may be drawn down again. On the expiry date of the agreement, the entire overdraft facility amount in use has to be repaid.

Standard example of the annual percentage rate

The provisional annual percentage rate of charge is 25.9% on the following sample terms: credit limit €500, term 2 years, agreement fee €15, fixed interest 18% per annum on the limit drawn down, total amount paid by the consumer €629 and total amount of repayments of €599.

The rate has been calculated on the assumption that the credit limit will be used immediately and in full.