Renovation loan Yes, to your home improvement ideas!

All Estonian citizens or residence permit holders who are at least 21 years old, have an excellent credit record and a monthly income of at least 500 euros may apply for a renovation loan.

In order to ensure that the loan is used for its intended purpose, we may require the lender to provide proof of ownership or renovation of real estate. We expect to receive the documents within 14 calendar days of delivering our request.

In the case of a temporary residence permit, we can enter into the loan agreement until the expiry date of the residence permit.

Inbank only offers renovation loan to private persons.

You don’t have to change your home bank to take a renovation loan from Inbank. You can make the monthly repayments of the loan from the current account in your home bank.

When choosing the grace period in the application then You will no payments for the first three months and your loan period will prolong by three months.

You can apply for the grace period when your are applying for the renovation loan. There is a separate area where you can tick the box within the application.

Unfortunately no, Grace period will apply to the first three repayments. 

Yes, during the grace period no interest is included.

With grace period the first first three months payments is 0€. From the fourth month payments will continue based on the payment plan. Interest will be calculated from the monthly loan balance.

The interest rate of the renovation loan is from 7.9% to 16.9% and is calculated on the balance of the loan. The exact interest rate depends on the conditions offered to you personally, which you can review after receiving the loan decision. The term of the loan is 6 months to 6 years. The interest rate is fixed for the entire loan period and is not tied to the Euribor. You can therefore be certain that the monthly repayment will not change.

You can submit your renovation loan application right here on the Inbank website or at our branch in Tallinn. You must have an ID card or Mobile ID to sign the agreement online. You must know your PIN1 to log in and your PIN2 to sign the agreement. You must present an identity document (ID card, passport or residence permit) to sign the agreement at a branch of the bank. The loan amount is paid out after identification, which can be done at selected Omniva or Inbank branches and via webcam in the internet bank of Inbank when you enter into an agreement for the first time as a new client.

We offer you the following identification options when entering into a loan agreement: Inbank branch, Omniva branches and identification via webcam. See the locations of Inbank and Omniva branches.

First of all, check that you have installed the latest version of the ID card software on your computer, or download the most recent version of the software and restart your computer. You will find a solution to your problem in the ID Card Help Centre or via the ID Card Helpline 1777. If you still cannot sign the agreement digitally, please contact Inbank’s customer service. The agreement can also be signed at the Inbank branch.

After you sign the agreement digitally, it will remain accessible in the internet bank of Inbank as well as in the www.allkiri.ee environment, where you can download it to your computer. You will also find the reference to your agreement in the e-mail message that will be sent to you after you sign the contract. If you still cannot find the agreement, please contact Inbank customer service.

Submitting an account statement is usually not necessary for making the loan decision, but we do request an account statement for the last six months in some cases. An account statement may be necessary for applying for a loan if there is no adequate overview of payments into the pension fund. For example, you request a bigger amount in the loan application than the amount of your income on the basis of the payments made to the pension fund would allow you to borrow and if you have additional income not reflected in these payments.

An account statement must be submitted for the last six months until the application submission date and include information about your income and obligations. If you submit an account statement from Swedbank, SEB, LHV, Coop or Luminor, then it must be in a format that is digitally certified by the bank (.bdoc, .asice, .sce). If you submit an account statement from another bank, it must be saved in PDF format and then digitally signed with the DigiDoc programme.

Please also read the guideline on uploading account statements. After saving the statement on your computer, you can upload it on the loan application page. You can also upload the statement later, after logging in the internet bank of Inbank and selecting Loans from the menu. If you cannot upload the statement in the internet bank of Inbank, please e-mail it to laen@inbank.ee.

In order to ensure that the loan is used for its intended purpose, we may require the lender to provide proof of ownership or renovation of real estate. We expect to receive the documents within 14 calendar days of delivering our request.

If the requested documents are not submitted, we have the right to cancel the agreement extraordinarily or to unilaterally change the interest rate specified in the agreement by 5%. A fee for amending the contract will apply.

Usually, you will receive an immediate response to an application submitted on our website or at a branch. You can also sign the loan agreement straight away if the response is positive.

If we cannot give you a loan decision straightaway, we will ask you to submit a digitally certified account statement for the previous six months, after which we will give our response to the loan application within one working day.

We transfer the money to the borrower’s personal Estonian account within one working day of entry into the agreement and identification of the borrower. Depending on your bank, the money will appear in your current account on the same day that we make the payment, or the next day.

We can only pay out the loan to the applicant’s personal account in a bank located in Estonia. We cannot pay out the loan amount to a foreign bank account or to another person’s account.

Every month, we will send you an e-invoice, which you will find in the internet bank of your home bank. We will send the invoice to the internet bank of your home bank four to five days before the due date for making the payment to the account to which the loan amount was paid according to your request. We advise you to set up an e-invoice standing order in your home bank to make repaying the loan more convenient. The payments are made to Inbank’s account in SEB bank.

A payment is deemed to have been made if it was made with the correct reference number, which you will find in your loan agreement or on the e-invoice.

We do not send invoices by e-mail. However, the invoices we have sent are accessible in the internet bank of your home bank.

If the payment was made outside the e-invoice before the arrival of the monthly invoice, an e-invoice for the relevant month may still be send in some cases, but you certainly don’t have to make the same repayment again. You can simply archive the e-invoice.

You can check your loan balance in the internet bank of Inbank under Loans. You can also get information about the loan balance from Inbank’s customer service if necessary.

Yes, you can repay the loan in part or in full before the expiry of the loan agreement. In order to do so, e-mail the request for early repayment of the loan to info@inbank.ee and indicate the date when you would like to repay the loan. We will then send you the final amount that is still left to pay as of this date. You can find the terms and conditions of early repayment on the Inbank price list.

Yes, it is possible to change the payment date. In order to change the payment date, please send the relevant request to info@inbank.ee. You will find the fee for amendment of the payment date on the Inbank price list.'

Yes, it is possible to apply for a grace period if necessary. In order to do so, please e-mail your request to info@inbank.ee. The length of one grace period is up to three months. If you would like to use the option of a grace period for the second time, the loan principal and interest payments for the last three months must not be outstanding. It is possible to have two grace periods during the term of the agreement and for up to six months during the loan period. We will determine the exact length and the terms and conditions of the grace period considering of your requirements and possibilities.

If we haven’t received a repayment by its due date, we 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 the 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.

Irrespective of the reasons for payment difficulties, Inbank always tries to help its clients by offering solutions that are as flexible as possible. This is why you should immediately inform us of any payment difficulties. For example, you can request a grace period or extend the loan period, which will reduce the monthly payments.