Refinancing loan
The refinancing loan allows you to bring your current loans and instalments over to Holm Bank and merge them into one contract, with one monthly payment.
Loan amount
Interest rate
Contractual fee
Management fee
For entire loan duration
Contract length
1+1+1=1 Indeed, mathematics can be like that too! You can combine your different loans and hire purchase into one Holm bank refinancing loan - one loan and one monthly payment. There is no more worry that you will forget the payment of some loan, because you only need to remember one payment. Holm bank's refinancing loan is not affected by the change in Euribor, the monthly payment remains the same for the entire contract period. You pay only one monthly payment instead of several different ones. This allows a better overview of your finances, which in turn reduces the risk of forgetting a payment.
Consider your decision thoroughly and review the terms and conditions of the contract before making your decision. If you have any questions or need advice, get in touch with us.
Refinancing loan example
If you have two loans with an outstanding balance of €10,141 at an interest rate of 13.9%, and two hire purchases with a total outstanding balance of €1,392, both at an interest rate of 18.9%. In total, you have four different contracts and four separate payments to various financial services providers.
By bringing these liabilities to Holm Bank and merging them into one refinancing loan at a fixed interest rate of 8.99% with a suitable payment schedule, you can pay only one monthly payment in an amount that suits you.
In this example, in case of a 6-year contract, you'll pay only one monthly payment in the sum of €246.03, which is €148.03 lower than your previous payments.
In order to fulfil the due diligence obligation set for us as a bank, we ask you to identify yourself by video in the Veriff OÜ environment if the total amount of your loans is €15,000 or more. If you are not a citizen of the Republic of Estonia, we might also ask you to identify yourself. A device with an Internet connection and a working camera is required for verification. Have your ID ready and follow the step-by-step instructions on screen. We will send you an email with a personal link to verify your identity.
Frequently asked questions
However, if you have been making your loan payments on schedule and would like to extend the term of your existing loan to reduce the monthly payment amount, refinancing is a suitable option.
You can then indicate those obligations that you wish to refinance. If the refinancing option is not shown on the screen, the corresponding obligation cannot be refinanced.
If you have any questions or need help with your application, please get in touch with us.
Make sure that your payment reaches us by the due date, and bear in mind that there may be delays in payments between banks, for example during weekends and public holidays. To ensure that you do forget your monthly payments, you can set up a standing order via your online bank.
Additional information
The financial services provider is Holm Bank AS. Review the terms and conditions of the contract and consult an expert. The annual percentage rate of charge is 15.89% on the following sample conditions – loan amount: €3 600; contractual fee: €36; repayment period: 44 months; fixed interest rate: 7.78% of loan amount per annum; total amount payable: €4 652.73; net repayments: €4 616.73 ; number of repayments: 44.
Holm Bank AS
Posti 30, 90504 Haapsalu
Commercial Register code
14080830
