Hire-purchase

You can apply for hire-purchase if:

• your monthly income is at least 400 €
• you are aged 18 to 75
• you are an Estonian citizen or a person with a residence permit residing in Estonia.

You do not have to be a client of LHV to apply for a hire-purchase and conclude a contract. You can also make monthly payments from your home bank account.

If you have a temporary residence permit, you can enter into a hire-purchase contract with a repayment period that lasts up to the maximum duration of your residence permit.

If you need to submit an account statement, we will let you know. We will guide you through the application process on how to do it. In this case, you must submit the statements of all other banks besides LHV where you are settling. You can submit the statement automatically when preparing the application or send it by e-mail at finance@lhv.ee.

You can examine the interest conditions of the hire-purchase at the merchant where you want to make the hire-purchase. Conditions may vary depending on the merchant.

The interest rate is fixed for the entire hire-purchase repayment period and does not depend on a change in the Euribor. This way you can be sure that the amount of your monthly payment will not change.

First fill in the application for hire-purchase on our website or at the merchant’s point of sale. If your application is successful, you can conclude a hire-purchase contract at the merchant’s point of sale or in the e-shop’s shopping cart. You can also transfer the limit to your bank account as a consumer loan.

The agreement can only be signed digitally. If you are unable to sign digitally or encounter a technical issue, please contact us – we will help identify the cause of the problem and find a solution together.

We will send you information about the amount of the first payment and the payment date by e-mail after the conclusion of the contract. This information is also included in the payment schedule of your hire-purchase contract. If you cannot find the information you need, please call 699 9119 or email finance@lhv.ee.

Interest on the first payment is calculated on the basis of the number of days between the date of conclusion of the agreement and the first payment date. If the time between the conclusion of the agreement and the first payment date is longer than 30 days, the calculation period of interest on the first payment will be longer than usual and therefore the payment will be higher. It depends on the time of entering into the agreement and the payment date chosen by you. For subsequent payments, interest is calculated for 30 days.

We will send you the invoice by e-mail or regular mail every month up to five days before the payment date. If you have also requested an e-invoice, we will send it to the Internet bank of your choice.

Please make the payment to the AS LHV Finance account EE707700771001062897. Indicate the number of your hire-purchase contract as the reference number.

The most convenient way to make your monthly payments is to use the automatic e-invoice standing order service. To do this, you can sign a contract in the Internet Bank of the bank from which you want to make your monthly payments.

You don’t have to wait for the invoice to make monthly payments. If you have not received an invoice, see the exact amount in the payment schedule of your agreement and transfer this amount to the AS LHV Finance account EE707700771001062897.

We will send you an invoice every month up to five days before the payment date. If you have already made the payment before receiving the invoice, it will be reflected on the invoice as a prepayment.

The instalment must be received in the AS LHV Finance account on the payment date agreed in the agreement at the latest. If you make the transfer exactly on the payment date and use the reference number specified in the agreement, it will arrive on time.

If you forgot to pay the invoice by the due date, please do it so as soon as possible. Please transfer the amount of the instalment to the AS LHV Finance account EE707700771001062897 and enter your agreement number as the reference number.

The most convenient way to make your monthly payments is to use the automatic e-invoice standing order service. You will learn how to do this in the answer to the next question.

For automatic payments, sign an e-invoice standing order service agreement in the Internet Bank of the bank from which you want to make these payments. In the future, you don’t have to worry about getting your invoice paid on time. Make sure that there is enough money available in your bank account on the payment date to make the payment.

Information that may be needed for ordering an e-invoice and concluding a standing order agreement:

• Invoice issued by: LHV Finance
• Account number: account from which you want to make payments
• Customer ID: agreement number
• Expiry of subscription: leave this field empty
• Invoice payment: select automatic payments
• Standing order date: date of receipt of invoice
• Limit: leave this field empty

If you wish to change the agreement period, please send your request by e-mail to finance@lhv.ee. It costs EUR 25 to amend your agreement. This amount will be added to your next invoice.

If you wish to change the payment, please send your request by e-mail to finance@lhv.ee. It costs EUR 25 to amend your agreement. This amount will be added to your next invoice.

If the payment date specified in the agreement is no longer suitable for you, you can change it. You can choose the 5th, 10th, 15th or 20th date to make payments. Please send your request by e-mail to finance@lhv.ee.

If you have lost your job, had a pay cut or other difficulties, we offer you the opportunity to take a grace period of up to six months. During this time, you only need to make interest payments. Please send your request by e-mail to finance@lhv.ee.

You can repay the hire-purchase free of charge before the deadline. Let us know your wish by emailing finance@lhv.ee or calling 680 2700. If you are a client of LHV Bank, you can also terminate the contract conveniently in the Internet Bank.

In order to give up the product, please contact the merchant from whom you purchased the product and submit the merchant a request to withdraw from the hire-purchase contract.

If you have lost your job, had a pay cut or other difficulties, we offer you an extension of the loan repayment period, thus reducing the monthly payment. It is also possible to take a grace period for up to six months. During this time, you only need to make interest payments. Please call 680 2700 or send a letter to finance@lhv.ee and together we will find the most suitable solution.

Please note that until the debt is paid in full, a fine for delay will be added to the outstanding amount. If you delay the payment of invoices, we have the right to assign you a debt processing fee in accordance with the price list and forward the debt information to Creditinfo Eesti AS (krediidiinfo.ee) and Krediidiregister OÜ (taust.ee). Please note that if you do not pay your invoices by the due date, it will prevent you from receiving loans in the future.

Information is available from our customer support by calling 699 9119 or e-mailing finance@lhv.ee. The working hours of customer support are Monday through Friday from 9 a.m. to 5 p.m.