Car loan

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 400 euros may apply for a car loan.

Car loan plus is a loan product with residual value, thanks to which the monthly repayments are lower. With an unsecured loan, you can cover up to 15,000 euros for the purchase of any motor vehicle. You can pay the final installment all at once or prepare a new payment schedule for the balance.

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 car loan to private persons.

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

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 loan application right here on the Inbank website or at our branch in Tallinn. You must have an ID card, Mobile-ID or Smart-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 branches or Inbank offices and via webcam in the internet bank of Inbank when you enter into an agreement for the first time as a new client.

An account statement must be submitted for the last 6 months before the date of application and must contain information on your income and obligations. If you are submitting an account statement from Swedbank, SEB, LHV, Coop Pank or Luminor, it must be submitted in a bank-approved digital format (.bdoc, .asice, .sce). If you are submitting an account statement from another bank, the statement must be saved in PDF format and digitally signed using the DigiDoc application. After saving the statement to your computer, you can upload it to the loan application page. The statement can also be uploaded later. To do this, log in to Inbank’s internet bank, select ""Loans"" in the menu, find and open the pending application and upload the statement file. If the statement cannot be uploaded to Inbank’s internet bank, please send it to laen@inbank.ee.

When using a car loan, please keep the purchase documents, as the bank may request these as of 30 days from the entry into the loan contract. If the requested documents are not submitted within 14 days, the bank has the right to unilaterally amend the terms and conditions of the loan contract and increase the interest rate by the rate indicated in the contract. A fee for amending the contract will apply.

Answers to applications submitted on the website and at a bank branch are usually provided immediately. With a positive answer, you can immediately sign a loan agreement.

If we are unable to make a loan decision immediately, please provide a digitally certified bank statement for the previous 6 months. We will then respond to your application within one business day.

We will transfer the money to the borrower's account in an Estonian bank no later than within one working day after the conclusion of the contract and confirmation of the borrower's identity. Depending on the bank, the money will be credited to the current account on the same or the next banking day after we make the transfer.

We can issue a loan only by transfer to the applicant's personal current account in a bank located in Estonia. We do not transfer loans to foreign bank accounts or to other people's accounts.

Taking out comprehensive insurance is not mandatory when you sign a car loan agreement. However, we still advise you to do so, as this will protect you against the most common losses irrespective of who causes the accident. Getting motor third party liability insurance for your vehicle is mandatory.

The loan amount is transferred to your bank account. After that, you can enter into a purchase and sale contract with the seller. You must take care of everything required in relation to the purchase of the vehicle, including registering the change of vehicle owner with the Road Administration, which has to be carried out during 7 working days.

The easiest place to register the purchase and sale is the e-service of the Road Administration.

The signer of the loan agreement can be both the owner or the official user of the vehicle. Since the loan amount is transferred directly to your current account and you enter into the purchase and sale contract with the seller yourself, then the vehicle immediately belongs to you, both during and after the loan period. You also have the right to sell the vehicle during the loan period and make loan repayments until the end of the loan period or make an early repayment. The conditions of early repayment can be found from Inbank price list.

After you sign the agreement digitally, it will remain accessible in the Internet bank of Inbank. You will also find the link to your agreement in the e-mail message that will be sent to you after you sign it. If you still cannot find the agreement, please contact our customer service.

You can check your loan balance in the internet bank of Inbank under "Loans".

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 do so, send your 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 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.