Pre-contract credit information of small loan agreements concluded with personal people

The bank officer is obliged before conclusion of a loan agreement to explain all the relevant conditions of the loan agreement and obligations involved in borrowing to meet the requirement on responsible lending and provision of a warningВІ and to help the borrower make an informed loan decision.

Your decision on taking the loan will be created by the applicant, who, in line with the supplied information shall evaluate suitability for the loan item and conditions to their loan interest and monetary condition and will probably be accountable for the effects of stepping into the mortgage contract.

We urge the applicant to completely examine the conditions of this loan contract become determined, the possible effects of using the loan therefore the enclosed information

The bank officers for explanations and additional information if you have more questions, please contact. Please speak to your nearest SEB branch, to obtain the responses.

whenever examining the mortgage contract, you should take notice specially to your after

1. Amount and money regarding the used loan (see clause 1.1 associated with the contract)

2. Loan disbursement term (see clause 1.2.3 for the contract), including information about perhaps the applied loan is disbursed in a lump sum payment or perhaps in instalments (see clause 1.2.1 of this contract) and whether this requires fulfilment of additional conditions by the debtor (presentation of extra agreements, invoices, etc., see clause 1.2.2 for the contract). If the agreed disbursement term has expired or the extra conditions to loan disbursement haven’t been satisfied, the lender shall never be obliged to disburse the loan.

3. Home elevators the attention price and foundation to interest calculation (see clause 2 associated with the contract and calculation of great interest into the basic terms and conditions).

4. Term for doing the obligations assumed underneath the loan contract. The mortgage payment date is stipulated within the contract (see clause 3.1.). The whole loan must be paid back by this date. The payments will be effected on the basis of the payment schedule if a payment schedule is prescribed for in the agreement.

5. Loan repayment conditions, such as the term and regularity of instalments, development of great interest and major number of loan. 5.1 In the event that loan is paid back predicated on an annuity routine, the debtor shall spend the financial institution equal repayments (annuity payments) in every month. The annuity payment comes with a loan payment and interest. For annuity routine, the mortgage repayment is smaller and interest repayment larger at the start of the mortgage term. At the conclusion of the loan term, the unit could be the opposing. 5.2 In the event that loan is paid back in equal principal components, the debtor shall pay equal amounts that are principal to which interest will be added, through the entire loan term. Properly, the quantity payable towards the bank differs from the others in every month. 5.3 if you have no re payment routine, the whole loan shall be paid back in the loan repayment date and also the interest, determined in the outstanding loan stability, will probably be compensated in every month.

6. Conditions of very early payment, such as the term for advance notice additionally the charges. Being a guideline, the request of very early payment will be submitted to your bank 10 times ahead of time plus the bank shall have the ability to a contractual cost. The total amount of contractual cost is dependent upon the size of the time amongst the repayment that is early the mortgage repayment date.

7. Provisions in regards to the amendment regarding the contractual conditions and feasible costs. The agreement does not contain any conditions, which would entitle the bank to change the contractual conditions unilaterally as a rule. Nevertheless, if such conditions happen decided, these will be placed beneath the chapter of unique conditions and covenants.

8. Unique conditions and covenants consented when you look at the loan contract (begin to see the clause of unique conditions into the contract).

9. Feasible effects for the debtor due to breach regarding the contract in addition to expenditures that are related. The bank shall have the opportunity to demand late penalty interest or in case of any other violation, a contractual penalty in case the borrower violates his payment obligation. The price of belated penalty interest and contractual penalty is stipulated within the contract. In the event that client continues to be in arrears, the lender shall deliver the debtor debt notices, charging you a charge for the notices in accordance with the cost list. In the event of a long-lasting financial obligation (surpassing 45 times), shall have the ability to forward home elevators your debt into the registrar of this debt information register.

10. The bank’s straight to cancel the agreement and effects of working out just the right. In the event that debtor has partly or completely delayed at the very least three payments that are successive in the event that debtor has violated virtually any responsibility, specified as grounds for early termination within the contract (age.g. presentation of incorrect information or grounds of cancellation due to the bank’s general conditions and terms), the financial institution may end the agreement pre-term and need early payment linked because of the whole loan and settlement for the outstanding bills. In the event that debtor does not repay the mortgage, the lender shall be eligible to need payment associated with the loan and fulfilment of other obligations because of the person, securing the performance associated with the contract.

11. Collateral A precondition into the loan disbursement might be establishment of collateral, specified within the contract. Accepted security together with degree of developing exactly the same (amount of pledge, restriction of obligation regarding the provider of surety, etc.) are specified within the particular protection agreement.

The financial institution gets the directly to demand establishment of extra security, in the event that borrower’s solvency has deteriorated or their obligations that are financial to product level (see clause 16 regarding the contract). In the event that additional security is maybe not supplied, the lender shall have the proper to need very early payment of this loan (see clause 19 regarding the contract).

12. Non-recurrent costs linked to summary associated with contract 12.1. A payment for the amendment associated with contract pursuant to your price as created in a particular contract or supplied within the bank’s price list.

13. Responsibility a merchant account and move the income By the time of stepping to the contract, the debtor will need to have opened a free account with SEB Pank, to that the loan will be disbursed and from where the repayments as a result of the mortgage contract will probably be debited by the lender. The borrower assumes an obligation to ensure transfer of his earnings to the abovementioned account under the agreement.

14. Danger of feasible reduction in solvency associated with the debtor The borrower must look into that their solvency may decrease on the term associated with the loan agreement, if an individual or even more associated with the after occasions happen:

  1. basic aggravation for the financial environment;
  2. loss of/decrease within the borrower’s profits or any other earnings;
  3. decline in the marketplace value for the security assets;
  4. extra economic liabilities later on thought by the debtor;
  5. the concealment associated with the real borrowing interest and/or economic capability for the debtor, etc.