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Getting the home of your dreams is easy with a home loan from Coop Pank. There is no difference whether you need money to build a house, buy an apartment or renovate your home. You don’t have to put the dream of having your own home on hold anymore, because you will get the necessary money from us.
Contact a private loan manager and make an appointment to find a personal solution to your loan requirement.
Apply for loan
The calculation is approximate and may differ from the terms and conditions offered to you.
We will work hard to meet your expectations. We will tailor a solution that meets all your needs.
You can buy a home in any corner of Estonia with a home loan from Coop Pank. It doesn’t matter if it’s located in Võru or Viljandi, on an island or in the capital, you can apply for a loan from Coop Pank anywhere.
The loan managers of Coop Pank are always there for you. We are direct and open in communication with you. There is no difference whether you submit the loan application online or at the nearest branch – professional advice is always at hand.
We respect your wishes and possibilities. We have the knowledge and willingness to advise you through the steps towards successful conclusion of loan transaction, so that you could start enjoying the delights of your new home.
Apply for loan
See the price list, the precontractual information and the borrower’s reminder.
Documents required for applying for a loan
If necessary, the private loan manager may ask questions and request documents additionally.
By taking home loan, it should be taken into consideration that the assets, serving as a guarantee for the loan, should be insured throughout the whole period of borrowing. So your peace of mind is also secured – if something happens, the losses will be compensated and it will be easier to overcome the consequences.
We work with the Estonian leading insurance company If Insurance, in cooperation with whom we provide you insurance.
Please call +372 635 3009 or fill in the form for concluding home insurance, and you will be contacted.
The benefits of If home insurance:
The provider of insurance service is If P&C Insurance AS. Please see the terms and conditions on www.if.ee and consult an expert by insurance phone +372 635 3009.
Coop Pank will add free loan insurance to the home loan agreements entered into as of 1 July. Coop Pank offers this solution, which is innovative in Estonia, in cooperation with If Kindlustus.
Loan insurance gives the borrower an extra feeling of security that the family will not lose the home bought with a loan during any economically different periods that have occurred as a result of unexpected events. Insurance helps if a person has lost the capacity for work as a result of an accident or illness, or if a person has been away from work for a long time due to their own or a child’s illness. The insurance will pay the loan balance to the bank in the event of the borrower’s death.
Loan insurance is effective for a year and extends automatically for the next period of 12 months. In the case of an insured event, the borrower must inform the bank by sending an e-mail to email@example.com.
In the case of a home loan agreement with several borrowers, insurance will cover a part of the loan payment or loan balance that is proportional to the number of the borrowers. For example, if there are two borrowers, insurance will pay half of the loan payments to Coop Pank if one of the borrowers falls ill.
See a brief summary of the terms and conditions of loan insurance here.
In the case of a loss event, download the notification form here, fill it in and e-mail it to firstname.lastname@example.org. If Kindlustus will get in touch with you and let you know what you have to do next.
In addition to monthly loan repayments, allowance has to be made for additional expenses that result from taking out a loan
The property serving as collateral has to be insured for the term of the loan against fire, water-related emergency, vandalism or natural disaster. For insuring assets, we accept all non-life insurance companies registered in Estonia and licenced by the Financial Supervision Authority and listed on the website of the Financial Supervision Authority.
Furthermore, in insurance matters an independent adviser / insurance broker may be contacted to assist with the identification of the insurance best suited for the interests of the policyholder.
Generally, on a home loan interest and principal payments have to be made monthly. The bank withholds these from the client’s account on the dates agreed in the agreement and on the repayment schedule.
Two repayment schedules are available to choose from for the repayment of the loan
The financial situation may change during the repayment of the loan. For example, in the event of a child born into the family or of loss of employment, earnings decrease. In this case, there is the option of seeking a grace period in the repayment of the loan and pay the bank interest only during that period.
Furthermore, there may arise the option of repaying the loan early in part or in full. If the bank is notified about this wish 3 months in advance, no additional fee is charged for the repayment of the loan.
The provisional annual percentage rate on a home loan is 3,35% on the following sample terms: credit amount €32 000, repayment over 20 years in 240 monthly annuity payments, agreement fee €0, interest not fixed 6 months’ EURIBOR + margin 3,3% per annum (as at 28 January 2019, the 6 months’ EURIBOR is -0,237% per annum; the negative value of EURIBOR is equated to zero when interest is calculated; EURIBOR may change every 6 months), account management fee €0,5, total credit amount €43 875,67 € and total of repayments €43 755,67.
The rate is calculated on the assumption that the credit amount is used in full immediately and that its principal and interest will be repaid in monthly annuity payments. The rate does not include any expenses related to providing or the collateral. Before you conclude an agreement, we advise you to review the terms and conditions of the financial service and, if necessary, consult a specialist.
For you, a mortgage means that if the loan is not repaid, the bank will be entitled to sell the apartment or house, including the land, owned by you.
If the borrower is not performing their obligations, the bank will contact you and provide you with an opportunity to fulfil the obligation.
By fulfilling the borrower’s obligation, you can prevent the sale of the pledged apartment or house as well as avoid incurring any additional costs or litigation. You are entitled to require the borrower to indemnify any amounts paid by you.
Before you consent to the creation of a mortgage
When you are about to sign a notarised agreement
Once agreements have been signed
The bank usually applied the base interest rate of Coop Pank (KPB) to long-term loans (home loan, mortgage loan) from 1 May 2008 to 18 April 2012.
KPB is quoted and published by Coop Pank on its website every banking day, taking into account money market interest rates and the current state of the economic environment in Estonia and worldwide.
The base rate is more stable compared to individual market interest rates, since it takes into account more comprehensively how the economic environment and interest rates are shaped, follows the market situation at a calm pace and is not swayed by temporary fluctuations in the individual interest rates.
KPB is variable interest. For the client, Coop Pank’s base rate is fixed for three months at a time, changing if KPB has changed during the three months after it was fixed last under the agreement.
Currently, the base rate is 1.20%.
Base rate history