Solar panel loan

(1) All amendments to the loan, which have not been indicated under separate clauses in the price list (incl. amendment of collateral in a notarised or other form).
(2) Commission fee applies to certificates issued at a bank office. A certificate issued automatically in the internet bank is free for the client (for enclosing electronically to income tax return).

Borrower’s reminder to the applicant of a consumer loan

Taking out a loan is an important decision that involves risks. We would like to help you in making an informed decision.

We advise you to do your homework before applying for a loan: 

• think about the reason why and how much you need to borrow, as well as how you intend to repay the loan;
• submit true and sufficient information;
• make clear for yourself how much taking the loan will cost you;
• consider the possibility that your financial situation may become worse, but you must still be able to repay the loan even if this happens;
• read all loan documents (agreement, information sheet, etc.) carefully before you sign them.

If you have any questions about the terms and conditions of the loan before you sign the agreement or during its term, please contact us using out the general contacts of SEB bank.

When you read the loan conditions and loan agreement, please also pay attention to the following:

1. Standard European Consumer Credit Information

Before you sign a loan agreement, we give you a personalised Standard European Consumer Credit Information sheet, which is a summary of the most important terms and conditions of the agreement. Please read the Information sheet carefully.

2. Liability of every borrower

If there are several borrowers in the loan agreement, then every borrower is jointly and severally (solidary) liable for the repayment of the entire loan and must cover the performance of other obligations taken under the agreement in full.

3. Loan currency

We issue the loan in euros and the currency cannot be changed.

4. The term and conditions of paying out the loan

You may start using the loan after you have signed the agreement and fulfilled all contractual preconditions. We will disburse the loan to your account in SEB bank.

5. Interest

Interest is the fee you pay for using the loan. The interest rate is specified in the loan agreement.

The interest rate of a consumer loan is fixed for the entire loan period. The interest is paid on the loan balance you still need to repay.

6. Repayment of the loan

We debit the payments that must be made according to the loan agreement from your current account in SEB bank. If you have taken the loan together with a co-borrower, we have the right to debit the loan payments also from their current account as well.

A consumer loan payment schedule is annuity payments. According to it you will pay the same amount (annuity payment) on each payment date, which consist of the repayment of the principal amount of the loan and interest.

7. Early repayment

You may prepay a consumer loan in full or in part if you inform us of your intention 10 days in advance. No contractual fee applies to the early repayment of a consumer loan.

8. Amendment of the terms and conditions of the loan agreement

The terms and conditions of the agreement, incl. the interest rate, can be amended by the agreement of both parties and such amendments are generally established with an annex to the agreement. An amendment initiated by you is generally subject to a fee.

9. Special conditions of the loan agreement

If the agreement contains special conditions, you will have to follow these with great care. Only then can you be sure that the agreement will remain valid.

10. Breach of the agreement - consequences and costs

If you do not make the contractual payments by the due date, we may charge a penalty for late payment at the rate stipulated in the agreement. If you violate a non-monetary obligation, we will have the right to charge a contractual penalty at the rate stipulated in the agreement.

If you fall in debt, we will send you a reminder. If the debt is not paid, we will send you a debt notice, for which you have to pay a fee. If a suretyship contract is signed to secure your agreement, we will inform the surety as well.

If the payments remain unpaid for a period of more than 45 days, we will forward the debt information to a payment default register (Creditinfo Eesti AS).

11. Cancellation of the agreement and its consequences

The grounds for cancelling an agreement are stipulated in the terms and conditions of the agreement. For example, we have the right to cancel the agreement extraordinarily if you are wholly or partly in delay for at last three consecutive repayments. If you do not pay the loan balance, interest, and other amounts you owe, we will start the debt collection process, which may also include enforcement or court proceedings. All costs related to debt collection must be paid by you.

12. Costs related to the loan agreement

When you sign the agreement, you pay an agreement fee in the amount and on the terms and conditions stipulated in the agreement. Please take a look also the bank’s price list, as well as the general terms and conditions of the bank.

In addition to loan and interest payments, you will be charged a monthly fee for the current account.

If there is not enough money in the loan currency in the account used for making the loan repayments on the due date, we may take the payment in another currency available in the account by converting it into the loan currency at the exchange rate valid at SEB bank at the time the transfer is made.

13. Obligation to open an account and have your income paid into this account

You (and your co-borrower) have to open a current account in SEB bank for the entire loan period by the day you sign the loan agreement. We have the right to demand that your’s (and the co-borrower’s) entire income is transferred into your current account in SEB bank and that you (and the co-borrower) make your payments through SEB.

14. Risk of possible decrease in payment ability

Please think about how you will cope with the repayment of the loan if the overall economic environment becomes worse, your salary or other income decreases or your other expenses increase.

To make a considered decision, analyse the actual financial situation of your family and consider taking out a suitable insurance contract (such as SEB Loan Protection).

If you start struggling with making payments, please contact us immediately. For example, make sure to contact us immediately if

• your employment is unexpectedly terminated
• enforcement proceedings, debt restructing or bankruptcy proceedings are started against you
• your bank account is seized.

Together we will find the most suitable solution to the situation. This could be, for example, a change in the payment date or a grace period. At the same time, you can ask us to postpone the final loan repayment date by the grace period.

15. Complaints and disputes

If you have any complaints about our activities, try to solve the disagreements by negotiating with us first. You can read about the general procedure of solving complaints on our website.

If our response does not meet your expectations and you still find that we have violated your rights, you can ask for advice and explanations from the Consumer Protection and Technical Regulatory Authority (at Endla 10a, 10122 Tallinn; www.ttja.ee) or the Financial Supervision Authority (at Sakala 4, 15030 Tallinn; www.fi.ee).

Furthermore, in order to solve a dispute you may contact the Consumer Disputes Committee operating in the Consumer Protection and Technical Regulatory Authority or go to court.

You can find the self-service for Consumer Disputes Committee at ttja.ee/en/consumer-disputes-committee. You find out the rules of procedure of the committee at ttja.ee/en/about-consumer-disputes-committee.

A complaint to the Consumer Dispute Committee can be submitted also digitally via Online Dispute Resolution website at ec.europa.eu/consumers/odr/main.