Read before signing: information about the consumer loan

  1. Important information before concluding your consumer loan agreement

    Before taking the loan, think carefully about whether it fits your needs and whether you will be able to service it. A loan is a financial obligation that requires you to make regular payments together with interest. Before signing the agreement, take a moment to read through all the terms and conditions and make sure you understand them fully.

  2. Before entering into the agreement

    Consider whether the consumer loan fits your needs and whether you will be able to make your payments even if your income decreases or expenses increase.

    Also be sure to read the consumer loan agreement along with its general and special terms and conditions and the information sheet.

    Also read through the LHV Pank general terms and conditions and the principles of processing customer data.

    If there is anything you don’t understand, ask us to explain.

  3. Conclusion of the agreement and disbursement of loan

    If you have decided to take a loan, you will have to sign the agreement, which specifies all the key parameters – the loan amount, interest rate, contract fee and repayment period.

    You can then generally expect the loan amount to be transferred to your account immediately.

    The contract fee will be deducted from the loan amount.

  4. Right to withdraw from the agreement

    You have the right to withdraw from the consumer loan agreement within 14 days of entering into the agreement.

    To withdraw, submit a written withdrawal application to LHV Finance.

    Upon withdrawal from the agreement, you will be required to pay the loan balance and interest for the period during which the agreement was active.

  5. Interest and payments

    Think of interest as a charge for using the loan amount. The interest rate is fixed for the entire term of your loan.

    Loan payments are due monthly pursuant to the repayment schedule.

    We recommend ordering an e-invoice to be sent to the bank and selecting automatic payments to avoid missing the payment dates.

  6. Early repayment

    You can prematurely repay the loan at any time without additional charges.

    Let us know of your decision via email or telephone. We will send you the final settlement invoice and once it is paid, the loan agreement will be terminated.

    If you haven’t informed us in advance that you want premature termination, the amount paid by you will be treated as a prepayment and the agreement will continue to be active under the same conditions.

  7. Amendment of agreement

    A consumer loan agreement can be amended by mutual agreement with LHV Finance. Amendments may incur additional charges.

    If LHV makes unilateral changes to the terms and conditions of the agreement, you will be notified thereof two months in advance.

    If you don’t accept the amendments, you are entitled to cancel the agreement.

  8. Avoiding payment problems and indebtedness

    If you fail to make a payment, you may be liable for late interest, a contractual penalty or other expenses.

    If you fail to pay three instalments consecutively, LHV Finance may cancel the agreement and call for the repayment of the entire loan.

    If you encounter payment difficulties, reach out to LHV Finance straight away – we will find a suitable solution together.

  9. Resolving disputes

    Initially, an attempt is made to resolve a dispute by agreement. If this is unsuccessful, the dispute will be adjudicated by a court.

    As a consumer, you are entitled to turn to the Consumer Protection and Technical Regulatory Authority as well.