Home Equity Loan

Home equity loans are issued to persons no less than 18 years of age with permanent income and able to offer a collateral, such as an apartment or a house, funds in a bank account or securities.

Advantages

Without doubt, you’ll be able to make your ultimate dreams come true. Besides, this loan is also attractive for its long maturity (up to 25 years), and for a possibility to spend the money the way you find it fit without reporting to the bank.

Amount and deposit

We will produce an individual offer for each customer – after all, your needs and possibilities also differ. What really matters is that:

• the amount will depend on the colatteral and on your family income;
• the real estate (other than a plot of land) providedas a collateral must be insured by a property insurance company acceptable to the bank.

Interest rate

When entering into an agreement, you will select the type of interest you prefer:

• fixed interest rate: it is fixed upon loan issuance and remains unchanged all throughout the period you select. You may chose between 5-year or 10-year fixed interest rate. Fixed interest rate serves to protect from adverse effects of interest rate changes over longer term;
• variable interest rate: it is fixed upon loan issuance and changes every 3, 6 or 12 months, depending on relevant selected-period VILIBOR (average interbank offered rate on funds borrowed in the Litas), LIBOR EUR (London interbank offered rate on funds borrowed in the Euro).

Your annual interest rate will depend on the loan amount, maturity, assessment of your financial possibilities, individual credit risk and the number and type of services provided to you by SEB Bank.

Loan repayment

You will be able to start repaying the loan on the month immediately following the month of signature of the loan agreement, or, if you may so wish, to postpone the loan repayment date. The first month, only interest is payable. You may repay the loan in two ways:

• repay the loan and pay interest by equal monthly instalments (regular annuity);
• repay the loan by equal instalments and pay the interest for the actual number of days of the drawdown of the loan (linear method).

For your convenience, we can debit the instalment amounts to your bank account.

Whom should I turn to?

You are welcome to visit any SEB branch or register for a free 60 min consultancy or you may immediately complete a loan application – our account managers will contact you shortly.