Consumer loan
- Credit amount from 500 Eur to 40 000 Eur
- Interest rate from 7,9 %
- Repayment term from 12 months to 7 years
- Agreement fee – 1,5 % of credit amount (min. 50 EUR)
Home equity loan
- Loan amount depends on client's financial situation and collateral
- Interest rate considered individually
- Repayment term – up to 15 years
- Agreement fee – 0,4 % of loan amount (min. 200 Eur)
Home loan and home equity loan example for calculating annual percentage rate of charge (APRC)
If you receive a loan of EUR 100,000 that is secured by real estate and repay it over 25 years using the annuity method (300 monthly instalments), you will pay a total of EUR 166,874.41; have a monthly payment of EUR 547.91; the annual percentage rate (APR) will be 4.62%.
The APRC shows the total cost of the loan and includes these costs:
- 4.3% variable interest;
- EUR 400 agreement fee;
- EUR 8.60 for mortgage registration;
- EUR 1 per month minimum fee for basic banking services;
- EUR 70 per year for home insurance
The APRC does not include the cost of property valuation or the fee charged by a credit intermediary.
The APRC and the total amount to be paid are calculated under these assumptions: the loan is paid out on the date the agreement is signed; the interest rate and fees stay the same during the whole loan period; you meet all the terms of the loan agreement on time.
We secure repayment of the loan by taking out a mortgage against the real estate you own or acquire in Lithuania. If you do not follow the loan agreement or fall behind on payments, you risk losing ownership of your mortgaged property. The mortgaged property must be insured in favour of the SEB bank throughout the loan term.
Typical example for calculating annual percentage rate of charge (APRC)
If you are a granted a consumer loan of EUR 5 000 for a period of 5 years, the total amount to be paid to the bank would amount to EUR 6 529,79. Your monthly payment would be EUR 106,61. The total cost of borrowing, calculated on an annual basis (APRC) would be 11,80 %. The APRC shows the total cost of the loan and includes the following expenses:
- 10% fixed interest rate per year;
- EUR 75 contract fee;
- minimal fee for the main bank services EUR 1 per month.
We have calculated APRC and the total amount based on the following assumptions: the loan is paid out on the date the agreement is signed; the interest rate and fees stay the same during the whole loan period; you meet all the terms of the loan agreement on time.
The APRC is shown to help you easily compare different loan offers.
