Support for borrowers
We are aware of our role, not only in times of growth, but also in more difficult times. Therefore, we are providing support for borrowers, which proved critical in the aftermath of the 2008 crisis, during the Covid-19 pandemic and is still available today.
We have prepared solutions for situations when there are difficulties repaying loans taken from SEB or SEB līzings:
Grace period is an opportunity to temporarily postpone the payment of the principal loan payment while maintaining the existing agreement terms. Only interest payments must be made during this period.
Extension of the loan repayment term
The extension of the loan repayment term allows you to reduce your monthly loan payment by deferring the maturity date of the loan. Although this reduces the principal amount payment, the monthly interest payment remains unchanged.
Change of the of loan repayment schedule
Change of the loan repayment schedule is offered in situations when the loan is on a linear payment schedule (the principal amount payment is fixed at the same level throughout the entire loan repayment term, while the interest payment is higher at the start of the loan and decreases over time based on the loan balance). This option changes the repayment schedule to the annuity payment schedule (the total loan payment is fixed at the same level until the interest rate changes).
Where and how can I apply for support solutions?
It’s necessary to fill in an application for the relevant changes. This can be done in the internet bank section "Loans/Leasings" – "My Loans" by selecting “Grace period”. If this application is not available, it’s necessary to fill in an application for changes by selecting "Other amendments".
How do I know if I have been granted the support?
Upon receipt of the application, the bank will contact the customer to inform about the implementation of the amendments. Amendments to the agreement, if necessary, will be uploaded in the internet bank for the customer to sign.
In case of difficulties, the most important thing is to reach out to the bank early and seek solutions. You shouldn’t allow the situation to deteriorate further and begin missing payments. So please contact us – together we will find the best solution.