Consumer loan
Concumer loan – a great opportunity to turn your deams about a personal car, travels, studies, heathcare, housing renovation or other big and significant purchases into reality.
Granting Consumer Loan
Consumer loan can be granted to a Lithuanian Citizen who get incomes in Lithuania. Credit recipients – persons age of not less than 18 years.
Loan Period
Loan can be granted for a period up to 5 years.
Loan Currency
Loan can be granted in Litas or Euro.
Loan Amount
Maximum loan amount EUR 12 000 (equivalent in Litas), but not exceeding 6 net salaries of the applicant (and spouse/co-applicant).
Loan interests
Interest on the loan consists of base fixed interest rate and a margin.
Loan Repayment
Loan repayment and interest payments are calculated according to the linear or annuity methods:
- linear method - the loan is repaid in equal instalments and the interest is paid for the outstanding loan amount;
- annuity method - the loan and interest are paid in equal instalments each month.
The loan is repaid and the interest paid on a monthly basis (on the dates established by the bank) against the loan repayment and interest payment schedule.
| Loan granted (LTL) | Period (month) | Monthly instalment (LTL) | Total annual rate of consumer loan price* | Total amount of loan repaid** |
|---|---|---|---|---|
| 5000 | 60 | 115,57 | 16,13 | 7234,20 |
| 41000 | 60 | 947,63 | 14,76 | 57157,80 |
*The total annual rate of consumer loan price means the total price of the loan expressed as an annual percentage which is calculated according to the procedure for calculation of the total annual rate of consumer loan price set by the Government of the Republic of Lithuania.
**The total amount of loan repaid means the consumer loan granted and the total price of the loan (interest, agreement preparation fee, and other costs connected with the loan which are borne by the client).
The total loan amount and the annual loan repayment rate are calculated while adhering to the assumptions listed in legislation of the Republic of Lithuania and assuming that a year has 360 days and that the interest rate on the loan is 13.7%.
Documents
The applicant and spouse/co-applicant together with an application to obtain a loan and report on income/expenses, shall present these documents (copies and originals):
- the passports or Personal Identification Cards;
- detailed documents about salary or another income (under separate request);
- agreements and repayment schedules about financial obligations to other financial institutions, enterprises, etc.
Bank can require additional documents.
The bank reserves the right to refuse to grant a loan if any circumstances which prevent the finalisation of a loan agreement and provision of the loan are established when the loan application is submitted.
For more information please call +370 5 2361 361 or visit Nordea branch office.