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.Request an e-invoice
We can offer you hire purchase if:
- You are at least 21 years old and an Estonian citizen or hold a residence permit
- Your net monthly income is at least 280 euros
- You perform your financial obligations appropriately
- The hire purchase limit we can offer you depends on your monthly income and obligations
Payment of instalments
We will send an e-invoice to your Internet 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 out the e-invoice request form. If you would like to make the payments manually each month, make sure you use the correct current account number of Inbank and your reference number, which you will find in your contract.
We will text you a reminder if you have not paid an instalment by its due date. Please be aware that there are costs associated with late payments, and default interest is calculated on delayed payments. You will find the fees associated with late payments in your agreement and on the Inbank price list. If you run into difficulties with the performance of your obligations, please contact Inbank as soon as possible, so we can find a flexible solution together and you can avoid additional costs and litigation.
Early repayment of hire purchase amount
You can repay the hire purchase to us early at any time either in part or in full, and if you do so, you will not have to pay interest or other fees for the time you did not use the loan. In order to do this, you must submit a written request to Inbank’s customer service indicating the amount to be repaid and the date. We will then inform you of the final amount left to repay. 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.
Important information before entering into the contract
Think carefully whether hire purchase is a suitable option considering your needs and financial status.
- Read the terms and conditions of the contract carefully before you sign it and don’t hesitate to ask if you need more information.
- Think about the risk you can afford to take. Please note that running into payment difficulties may make borrowing more difficult for you in the future.
- Read about the different financing options offered by Inbank on our website and don’t hesitate to ask our customer service for assistance.
- After entering into the contract, review the conditions again. This way, you can be sure that you will perform your obligations correctly and at the right time.
- Read our letters carefully and let us know immediately if your contact details change.
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