Pre-contractual information

Borrower’s reminder and additional information for the consumer loan applicant

Taking a loan is an important decision that involves certain risks. We consider it our duty to help you in the process of making this decision.

When applying for a loan, you need to think through and find answers to the following questions:

  • make it clear to yourself for what and how much loan do you need, where do you get the money to repay it and which costs will be incurred by taking a loan;
  • provide the Bank with correct and sufficient information about your income, expenses and loan purpose;
  • take into consideration the possibility that your economic situation may deteriorate and you must also be able to pay the loan in this situation;
  • read carefully all credit documents (agreement, information sheet etc.) before signing the agreement;
  • in case you have any difficulties with repaying the loan, contact the Bank and together we will try to find the best solution to the problem.

Use the opportunity to request additional information and explanations from the Bank regarding the terms of the loan. You can do this before the conclusion of the agreement and during its validity. The Bank's contact details are provided in the agreement documents and can be found on the Bank's website

When reviewing loan terms and loan agreement, pay attention to the following:

1. Standard European Consumer Credit Information

Before concluding a loan agreement, the representative of the Bank will provide you with a personalized European Consumer Credit Information Sheet which will give you a summary about the most important terms of the agreement. Read carefully the information in the document.

2. Loan currency

The bank issues loan in euros.

3. Disbursement of loans including changes in terms and conditions

In most cases, you can use the loan immediately after you have signed the agreement and fulfilled all the possible preconditions, but not later than within three business days.

The Bank will pay a small loan or set up an overdraft facility limit only on your Citadele Bank account.

4. Right to withdraw from a loan agreement

After signing the loan agreement you have the right to withdraw from this agreement within 14 days.

5. Interest rate

Interest is the fee you pay for using a loan. The interest rate is stated in the agreement. The interest rate is fixed. Interest is calculated and must be paid from the outstanding loan balance.

6. Repayment of a loan

The payments made under the loan agreement will be deducted from your current account by the Bank. Repayments must be paid monthly in accordance with the payment schedule. Generally, the repayment is the same and you pay the same amount of monthly payments (annual annuity payments).The payment consists of a repayment of the loan and interest.

8. Changing the terms and conditions of the loan agreement

Generally, the terms of a loan agreement are subject to a change in the conditions of a loan agreement when it is agreed by the parties and this change is fixed in the annex added to the agreement. Change in the terms of the loan agreement is paid according to the tariffs of the Bank.

In certain cases, the Bank has the right to unilaterally raise the interest rate: by 4% if the client does not fulfill the obligation to transfer regular income to a bank account.

8. Special terms and conditions of the loan agreement

If the loan agreement contains special conditions, then it is necessary to pay special attention to them. Only then you can be sure that the agreement will remain in force. One of the special conditions is the obligation of the borrower to transfer its monthly regular income to the settlement account associated with the loan agreement.

9. Consequences and costs of the breach of the loan agreement

If you do not pay the contractual payments in time, the Bank may require you to pay interest in the amount specified in the agreement. If you have a debt, the Bank will send you a reminder. If you will not pay the debt, the Bank will send you a payment order. If your contractual obligations are covered by a surety, the Bank will also notify the guarantor about the arrears. For more than 45 days of arrears, the Bank will provide information to the registrar of the payment register (Creditinfo Eesti AS).

10. Termination of the agreement and its consequences

The Bank has the right to terminate the agreement if the client fully or partially delays payment of at least three consecutive payments. The client is responsible for all costs associated with debt collection.

11. Expenses related to the loan agreement

When signing the agreement, it is necessary to pay the agreement fee in the amount and terms stated in the agreement.

You can also examine the loan pricelist, which is available on our website.
In addition to loan and interest payments, you must cover other relevant costs.

12. Obligation to open an account and receive income on it

By the time the loan agreement is signed, you must have an account with Citadele. The account must be opened for the entire period of the loan agreement. Your regular income must be accrued to your current Citadele account.

13. The risk of a borrower losing solvency

Think carefully about how you will fulfill your obligations to the Bank to repay the loan in conditions of deterioration of the general economic situation, reduction in salary or other expenses.
In case you have any solvency problems, the employment relationship will end unexpectedly, an enforcement procedure will be initiated or the bank account will be arrested, contact us immediately. Together we can find the best solution to the problem. 

14. Complaints and disputes

If you have any complaints about our activities, we will try to resolve the differences by negotiating. You can view the complaint procedure at the Bank's website.

If, regardless of the negotiation process, the Bank does not meet your expectations, you have the opportunity to ask for advice from the Estonian Consumer Protection Board (Pronksi 12, 10117 Tallinn; or the Financial Supervision Authority (Sakala 4, 15030 Tallinn,

To resolve disputes, the Consumer Disputes Committee has been set up under the Consumer Protection Board. Complaint to the Consumer Disputes Committee can be filed at