Loans for Consuming Purposes with Collateral
The loan for consuming purpose with collateral is good choice if you are planning:
- to purchase an expensive asset,
- to invest in education or trainings,
- free funds of loan management.
Granting consumer loan with collateral
Loan for consuming purposes with collateral can be granted to a Lithuanian citizen or foreign citizen with permanent residence permits to live and work in Lithuania. Credit recipients – persons age of not less than 18 years.
Loan period
Loan can be granted for a period up to 30 years.
Loan currency
Loan can be granted in Litas and Euros.
Loan amount
Up to 80% value of collateral.
You will not need to apply to the property insurance company - property will be insured by Bank will mediate entering into agreement with “Seesam” insurance and the annual property insurance amount will be significantly lower than the average in the market.
Loan interests
Interest on the loan consists of a reference rate and a margin. The loan interest is calculated for the withdrawn and not repaid loan. The base rate is determined on the basis of 3, 6 or 12 month period.
Loan repayment
| 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 |
Loan repayment may be postponed for a period of up to two years upon the Banks decision. The suspension period starts on the date of signing the loan agreement. The bank must receive a well-grounded request to suspend the loan repayment term. 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.
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 certificates from their workplaces about the income received during the last 6 months (under separate request)
- Copies of any agreements and repayment schedules about financial obligations to other financial institutions, enterprises, etc.
- Income declarations (if the declared income pertain to those instances foreseen by law)
Bank can require additional documents.
Foe more information please telephone +370 5 2361 361.