Why choose Inbank hire-purchase?
Inbank cooperates with hundreds of shops throughout Estonia. This way, you can pay for your purchases flexibly and in instalments where you need it the most, be it in a shop or an online store.
The interest rate of hire-purchase is affordable
You will get a response immediately and can sign the contract in the shop or online store
A down payment is usually not required
Our hire-purchase partners
For example, you can use Inbank’s hire-purchase when buying goods or services from the following merchants.
Applying for hire-purchase is easy
Select suitable goods
Select suitable goods from a partner of Inbank. You can also use hire-purchase to pay for several goods at the same time.
Ask about Inbank’s hire-purchase
Tell the merchant that you would like to pay in instalments. You can fill in the hire-purchase application in the shop or online store.
Sign the contract
You can read the contract and sign it in the online store or the merchant's shop.
We will send you an invoice
Inbank will send an invoice to your Internet bank every month. We recommend setting up an e-invoice standing order in your bank for the payment of the hire-purchase invoices.
Payment of hire-purchase instalments
We will send an e-invoice to your Internet bank every month, so you can pay all the instalments when due. We recommend setting up an e-invoice standing order in your bank, so that the hire-purchase invoices are paid comfortably and automatically.
If the e-invoices do not arrive in your home bank for some reason, please let us know by filling in the e-invoice request form.
Requirements for applicants
- An applicant must be at least 21 years old and an Estonian citizen or holder of a residence permit.
- The net monthly income must be at least 280 euros.
- Excellent prior credit record.
- In the case of a temporary residence permit, we can enter into the hire-purchase agreement until the expiry date of the residence permit.
The maximum hire-purchase amount offered depends on the applicant’s monthly income and obligations. The payment schedule is prepared according to the annuity principle (the monthly repayments are divided equally across the entire period).
Payment of instalments
We will send an e-invoice to the Internet bank of your home bank every month. The due date for payment of the instalments is the 12th day of every month.
If you have not received the e-invoice, please fill in the e-invoice request form. If you would like to make the payments manually every month, make sure you use the correct current account number of Inbank and your reference number, which you will find in your contract.
If we haven’t received a repayment by its due date, we will text you a reminder that the payment must be made. There are costs associated with late payments, and default interest is calculated on delayed payments. The fees related to late payments are specified in your agreement and Inbank price list. If the difficulties in repaying the loan are likely to last longer, please contact Inbank as soon as possible, so we can find a flexible solution together.
Early repayment of hire-purchase amount
You can repay the entire hire-purchase amount or parts of it early at any time. In order to do this, you must submit a written request in free format to Inbank’s customer service. We will then inform you about the final amount left to repay as of the relevant date. The fee for early repayment of the hire-purchase amount is:
- 0.5% of the amount to be repaid if less than one year is left until the expiry of the agreement at the moment of repayment; or
- 1% of the amount to be repaid if more than one year is left until the expiry of the agreement at the moment of repayment.
This company provides financial services. Please read the terms and conditions of the financial service before you sign the contract, consult a specialist and take a look at the examples of the annual percentage rate.
The annual percentage rate of the offered hire-purchase is 24,22% per annum on the following sample conditions: hire-purchase amount €2000, contract period 48 months, interest rate 11,9% per annum calculated on the purchase price, deposit €0, contract fee €15, management fee €0,9, monthly payment €62,85, total cost of credit €3016,80. The service is provided by Inbank AS.
Become a hire-purchase partner
Inbank has been operating on the hire-purchase market since 2011. We have added about 300 partner merchants into our portfolio over this time. If your company wants to cooperate with us in the area of hire-purchase, please contact us and we’ll discuss the options.Read more