Loan for seniors

A loan for planned or unbudgeted expenses designed specifically for seniors.

  • Set the required amount of the loan yourself: from EUR 150 to EUR 1500
  • Flexible loan repayment terms: from 3 to 24 months
  • Low interest rate: 17% per year

Amount EUR

€ 150

€ 1500

Loan term in months

Monthly payment
If you require additional funds for a planned or unbudgeted necessity, for example, a larger purchase, repairs or medical expenses, a loan for seniors will be the best solution.

Money in the account right away

The Bank will examine the application within 30 minutes

Less paperwork

To take out a loan, you only need to present your passport or ID

Smaller commission

Reduced commission fee for processing and disbursement of the loan

Repay when convenient

You may freely choose a repayment date

... and a number of other advantages

  • Money is available in the account as soon as the agreement is signed
  • There are fixed monthly payments on the loan 
  • Possibility to repay the loan before maturity (in part or in full) without penalty

Conditions for taking out a loan

  • You may take out a loan if you are a natural person, resident of the Republic of Latvia, retired person until 80 years of age (at the end of the loan’s maturity) 
  • Your income must be at least EUR 220 per month after taxes
  • Your total monthly payments on the loan may not exceed 20% of your total monthly income 
  • You have to have your pension transferred to the account of PNB Banka
  • For persons under 75 years of age the available amount of the loan ranges from EUR 150 to EUR 1 500 (amount of 2 pensions) and maturity – from 3 to 24 months 
  • For persons from 75 to 80 years of age the available amount of the loan ranges from EUR 150 to EUR 500 (amount of 1 pension) and maturity from 3 to 6 months 
  • Persons under 75 years of age (at the end of the loan’s maturity) are obliged to obtain life insurance 
  • Persons from 75 to 80 years of age (at the end of the loan’s maturity) are obliged to attract a joint and several borrower.

It is really easy to apply!

1

Submit your application

Fill in the application in the online bank or at the nearest PNB Banka customer service centre

Apply for a loan

2

Find out the answer within half an hour

The Bank will examine the application within 30 minutes and inform you about its decision and the conditions for issuing the loan

3

Sign the agreement and receive the loan

The money will be transferred to your account immediately after signing the agreement at the customer service centre. Do not forget to bring along your passport or ID!

Consumer credit for senior

A loan for seniors – the most suitable solution if you need additional funds for a planned or unbudgeted necessity, like a larger purchase, repairs or medical expenses.

Amount EUR

€ 150

€ 1500

Loan term in months

Monthly payment
Example:

If you apply for a loan of EUR 500 with a maturity of 12 months and an interest rate of 17% per annum, the monthly payment will be EUR 27.36. The total cost of the loan will be EUR 345.82. This amount includes the interest payments of EUR 28.32, premium of life insurance policy of EUR 7.50 and the loan processing fee of EUR 10. The annual percentage rate (APR) = 32.8%.

The calculations are for information purposes only. Contact a customer service centre of PNB Banka for details. Borrow wisely, having reasonably assessed your ability to repay the loan!

Pricelist

 

Examination of documents to explore the possibility of granting a loan: free of charge
Processing and issuance of loan: 2% of the loan amount (min EUR 10)
A partial or complete early repayment of the loan: free of charge

 

 

Life insurance policy

(offered in cooperation with Compensa Life Vienna Insurance Group SE)

 

 

Option of insurance policy Insured sum, EUR

Tariff 1

Insurance premium per annum for persons under 70 years of age (as at the moment of conclusion of the policy), EUR

Tariff 2

Insurance premium per annum for persons under 75 years of age (as at the moment of conclusion of the policy)

Option 1 300 € 7,50 € 16 €
Option 2 800 € 21 € 45 €
Option 3 1 500 € 39,50 € 85 €

 

Pricelist for private customers

Frequently asked questions

How much time does it take for the bank to decide on issuing a consumer loan?

The answer about granting the loan is given within 30 minutes. However, if additional information and documents are required for taking the decision, the decision will be made within 2 days.

May I receive a loan if my pension is transferred to an account opened in another bank?

No, one of the pre-conditions for being granted a loan is transfer of your pension to an account opened with PNB Banka.

May I receive a loan to settle my obligations with another bank?

Yes, we will consider the possibility to grant a loan if your credit obligations and income allow for it. You can use the loan amount granted to you at your own discretion, for example, to repay other loans.

May I repay the loan before maturity and will penalty be charged for it?

Yes, you may repay your loan before maturity in full or in part. No extra fee will be charged for repaying the loan. If you want to repay the loan in full, find out the balance of the loan amount and the accrued interest amount and transfer it to your account with PNB Banka. Then submit an order at the Bank’s customer service centre or send a message via InternetBanka. If you want to repay the loan in part, contact the Bank’s customer service centre and notify whether you want to reduce the amount of the monthly payment or the period of the loan.

How will the monthly payments be made: automatically or do I have to transfer them?

Monthly payments, including partial repayment of principal and interest payments, will be deducted automatically from your account with PNB Banka on your chosen date.