Idea Loan | Luminor

Idea Loan – your plans can be fulfilled easier

Variable annual interest rate from 1.99%* + Euribor
Loan for implementation of an idea by pledging real estate you already own
Lower interest rate as compared to a consumer loan

* Final offer is customer based and may depend on agreed special conditions

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Idea loan benefits

Loan amount from € 10 000
Long repayment term – up to 20 years
Maximum loan amount up to 70% of the market value of the real estate to be mortgaged
Repair, renovate or overhaul an existing property without reports and cash monitoring
Acquire another property, e.g. country house, summer cabin or land

Idea loan calculator

Loan Calculator

Loan amountLoan amount*

EUR

Downpayment* EUR

Calculate monthly installment with a fixed interest rate

Interest rate fixed*

years

Annuity
Linear

Monthly installment:

EUR

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How is my loan calculated?

Loan amount

EUR

Total interest paid

EUR

Loan agreement fee

EUR

Current account maintenance fee

EUR

Mortgage registration in the land register

EUR

Total repayment amount

EUR

Annual interest rate (2.1% + 6-month Euribor)

Fixed interest rate for 5 years

Annual percentage rate (APR)

View payment schedule

How much can you borrow?

The result is informative and based on an approximate calculation.
Creditor: Luminor Bank AS Latvian branch. The pledged property must be insured. Notary fees, property valuation and insurance costs are not known to the bank and are therefore not included in the annual percentage rate. The fulfillment of obligations under the loan agreement will be secured by the real estate mortgage.

The bank’s interest rate consists of a fixed part and a variable part. The fixed part of the interest rate will be set for each customer individually. The variable part of the interest rate is Euribor, the rate, at which banks may borrow funds at the interbank market of European Union countries. This part of the rate changes after a certain period (for example, 3 months or 6 months) as agreed upon between the customer and the bank. Learn more about Euribor here.

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This loan is for

Just me
Me with a co-borrower

EUR

Your maximum credit amount:: EUR

Summary label for maximum monthly payment: EUR

The displayed result is informative and based on the approximate calculation.
Creditor: Luminor Banka AS Latvian branch. The pledged property must be insured. Notary fees, property valuation and insurance costs are not known to the bank and are therefore not included in the annual percentage rate of charge. The fulfillment of obligations under the loan agreement will be secured by a real estate mortgage.

Maximum monthly loan payment: EUR

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Payment No.	Installment	Interest amount	Loan repayment amount	Loan balance
Payment No.	Installment	Interest amount	Loan repayment amount	Loan balance

Representative example of an idea loan

Loan amount	Loan repayment term	Loan agreement fee	Bank’s annual interest rate of 1.99% + 6-month Euribor*	Minimum monthly account maintenance fee	Monthly instalment	Total repayment amount	Mortgage registration in the land register	Annual percentage rate (APR)
€ 60 000	20 years (240 monthly payments)	€ 600	4.962%	€ 1.30	€ 395.06	€ 95 643.54	€ 73.50	5.24%

This example is informative. The loan is secured by the mortgage on the real estate. The mortgaged property must be insured. Additional costs depend on the additional services chosen by the customer, which may be included in the additional conditions of the offer. Creditor: Luminor Bank AS Latvian branch.
* A variable 6-month Euribor rate of 2.972 per year, effective on 21 October 2024, is used in this example.

Safe housing loan kit

Loan payment insurance

To ease the financial burden, in the case of involuntary unemployment or lasting incapacity for work.
See what’s covered

Life insurance

To provide financial support to your family when you are not able to do it by yourself.
Read more

Home insurance

To secure your financial well-being in the case that your residence, home contents, and relationship with neighbours are affected by unforeseen circumstances.
Calculate the premium

The path to your new home

Fill in the application and submit documents online
Receive a call from our advisor to guide you through the next steps
Get a loan offer and introduction to the loan details in a call with our advisor
Sign loan agreement remotely
As soon as transaction will be registered in land register, we will transfer money to your account

Apply for a loan

Requirements to apply

You are at least 21 years old
You have a regular monthly income of at least EUR 680
You have a combined monthly income of at least EUR 1100 if you apply with a co-borrower and you don’t have any dependents