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!
Education is an investment in the future. In no case should be studies abandoned or not begun for the reason that there are no funds for studying at a given moment.
A State-guaranteed loan to cover the costs of your studies resolves any worries about financing your education in one fell swoop and lays the ideal groundwork for a successful life further down the track. A student loan may be used to pay tuition fees, acquire necessary study supplies or cover living or other costs that accompany studying in Estonia or abroad.
Student loans help to focus on studies
A citizen of the Republic of Estonia or a citizen holding a permanent residence permit in the Republic of Estonia is entitled to receive a student loan
The borrower may have a current student loan agreement with only one bank issuing student loans.
Documents required for applying for a loan
Ask the guarantors to conclude guarantee agreements with Coop Pank.
Guarantors have to submit to the bank
If the collateral is real estate instead of guarantees, submit to the bank an expert assessment of the collateral, prepared by a real estate firm accepted by Coop Pank, together with other documents.
First-time applicant’s student loan agreements and related guarantee agreements may be concluded at all the branches of Coop Pank. A student loan begins to be disbursed from 15 September; in an exception, for students in their first year, loans are disbursed from 1 October.
In the case of student loan borrowers who have concluded valid loan agreements with Coop Pank in previous years, the loan amount is transferred into the payment account automatically. If the borrower does not wish to receive an automatic disbursement of the loan amount, it is necessary to submit a relevant request in the Internet bank or at the branch before 15 September.
The collateral of a student loan is the guarantee of two adult citizens of the Republic of Estonia or persons staying in Estonia on the basis of permanent residence permits, or a mortgage over real estate located in Estonia.
Benefits may be sought by submitting a relevant request to the bank. For detailed information, ask a private loan manager.
The provisional annual percentage rate of charge is 5.3% on the following sample terms: credit amount € 1920, agreement fee € 2, fixed interest 5% per annum, total amount paid by the consumer € 1974 and total amount of repayments of € 1972.
The rate is calculated on the assumption that the credit amount will be used immediately, in full and repaid within one year in twelve equal payments after equal intervals.
Review Coop Pank's price list.
A guarantee is a promise to fulfil a financial obligation of another person or company (borrower) instead of them. Provide a guarantee only for a person or company whom you know and trust.
Do not forget! A guarantee is your obligation to ensure the performance of the agreement being guaranteed.
Since you are assuming a financial obligation with a guarantee, it always makes sense to ask a specialist for advice.
Before you provide a guarantee
When you are about to sign a guarantee agreement
Once a guarantee agreement has been signed
The borrower is unable to meet their obligations