April 8, 2022.
The information was prepared by Jelena Novaka, SEB banka’s Head of Retail Communications.
In order to support customers who want to improve the energy efficiency of their homes and take care of the environment, SEB banka now offers financing on more favorable terms for solutions that enable households to use renewable energy resources. In addition, the purchase of such equipment is now eligible for state aid.
Last year, the demand for consumer loans increased throughout the Baltics: the largest increase was observed in Lithuania – the number of new contracts increased by almost 70%, followed by Estonia, where the increase was about 40% and Latvia – an increase of about 30%, according to SEB banka. The total amount of allocated funding increased by 45% in Latvia, by less than 70% in Estonia, but almost doubled in Lithuania.
In total, in 2021, SEB banka granted more than 32 million euros in consumer loans in Estonia, about 30 million euros in Lithuania, and over 17 million euros in Latvia. The highest average loan amount last year was in Lithuania – about 5.5 thousand euros, in Estonia it was about 5 thousand euros, but in Latvia – about 4.5 thousand euros.
SEB banka’s data show that consumer credit is most often used to purchase a vehicle (approximately 40% of cases) and to repair or improve a home (approximately 33% of cases). These categories have remained the most popular for several years, and the demand for financing for home repairs increased by 40% last year.
“We are seeing more and more people, especially private homeowners, start thinking about what they can improve in their homes to make them more energy efficient and environmentally friendly, as well as reduce heating and electricity bills. Given the current global situation, it is important to support households that want to reduce their dependence on fossil fuels by switching to renewables. To achieve these goals, SEB banka now offers financing on more favorable terms, ”says Arnis Škapars, Member of the Board of SEB banka. In order to increase the energy efficiency of housing, SEB banka can receive up to 20,000 euros with a fixed interest rate of 5.9% for up to 7 years. Funding is provided for the replacement of the fossil fuel boiler in the house with more environmentally friendly solutions, as well as for the purchase and installation of new electricity generation equipment – both solar panels and wind power plants.
It is important that the introduction of the most environmentally friendly solutions is also supported by the state. Currently, the Ministry of Environmental Protection and Regional Development is implementing a support program for the use of renewable energy resources in households, within the framework of which it is possible to receive a grant for the replacement of an existing boiler with more environmentally friendly and new electricity generation equipment.
Additional information:
29401327, [email protected] More about SEB Group in Latvia: Twitter / SEB_Latvia, Facebook / SEB.Latvia and Skype / SEB_Latvija, YouTube / SEBlatvia www.seb.lv
SEB Group is the leading financial services provider in Northern Europe. As a bank for close and long-term relationships, SEB offers financial advice and a wide range of financial services in Sweden and the Baltics. In Denmark, Finland, Norway and Germany, the main priority of SEB’s operations is the provision of corporate and investment banking services to companies and institutional customers. SEB Group’s operations at the international level are confirmed by a representative office in 20 countries around the world. As at 31 December 2021, SEB Group’s total assets amounted to SEK 3,304 billion and total assets under management to SEK 2,682 billion. SEB Group has 15,500 employees. More about SEB Group: www.sebgroup.com.
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