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Payment by instalment

If you would like to buy electronic or new household appliances or are building, renovating or fitting out your home, Payment by instalment is a convenient option to make all the necessary purchases in one go and pay for them in instalments.

Immediately collect goods subject to payment by instalment

  • choose the goods you would like to buy on payment by instalment
  • complete an application for payment by instalment at the location of the merchant of your choice
  • in the event of an affirmative loan decision, sign an agreement for payment by instalment
  • after signing the agreement, you will receive your goods immediately
  • for the payment of instalments, an electronic invoice is sent to your Internet bank on the agreed date

Further information

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Applying

Payment by instalment may be sought if

  • you are at least 21 years of age and a citizen of the Republic of Estonia, or a citizen of some other country who holds a permanent or fixed-term residence permit
  • your income is greater than 280 euros
  • your prior payment behaviour has been appropriate
  • to order an electronic invoice, you have a settlement account at the bank
Terms and conditions
  • payment by instalment may be made also for goods whose cost ranges 80 to 2000 euros.
  • fixed interest of 11.9% per annum on the purchase amount
  • loan term of 6 months to 4 years
  • agreement fee 15 euros
  • agreement management fee of 0.90 euros per month
Standard example of the annual percentage rate

The annual percentage rate on payment by instalment is 39.39% per annum on the following sample terms and conditions:
the net price of the subject of contract is € 250 when payment is made immediately, the credit amount is € 250, down payment of € 0, agreement term of 12 months, fixed interest rate of 11.9% per annum calculated on the purchase amount, agreement fee of € 15, monthly management fee of € 0.90, monthly instalment of € 25.69, total amount of credit of € 308.21 and total amount of repayments of € 293.21.

Payment by instalment is provided by Coop Finants AS. Before you conclude an agreement, we advise you to review the terms and conditions of the financial service and, if necessary, consult a specialist.

Prices
  • agreement fee 15 euros
  • agreement management 0,90 euros per month
  • annual interest from 11.9% of the installment payment
  • amendment of agreement 15 euros
  • agreement fee for refinancing of an agreement in arrears 20 euros
  • fee for the preparation and issuance of a certificate (confirmation letter) 5 euros
  • early repayment fee
    • at least 0.5% of the refundable amount, as at the time of repayment, is less than 1 year before the expiry of the contract
    • 1% of the refundable amount at the time of the repayment is more than 1 year left to the end of the contract
  • fines and penalties
    • reminder due to delay in payment of the installment (s), from the second reminder for each obligation that has become payable 5 euros
    • interest rate after the expiry of the contract and after the termination of the contract
      • contract interest rate, but not less than statutory interest rate for consumer credit, 360 days a day*
    • recovery costs after the expiry of the contract
      • according to the Law of Obligations Act


* The statutory default interest rate on consumer credit corresponds to the latest interest rate applied to the European Central Bank's (ECB) main refinancing operations,
plus 8% per annum, before the 1 January of each year and 1 July each year. The ECB's interest rate is published by Eesti Pank in the Ametlikud Teadaanded publication.