Hats off ⟩ Eesti bank offers teachers a home loan at advantageous terms

Since January 15, the National Coop Bank has been offering teachers of general schools and kindergartens a home loan on favorable terms with a lower interest margin, and the bank also pays the loan contract fee and home insurance benefits. home for the teacher’s first year.

The interest on the Õeptaja home loan from Coop Bank is 1.69% plus 6-month Euribor. However, if the teacher submits a loan request by May 31, 2024, the bank’s margin is 0% in the first year and only the 6-month Euribor needs to be paid. If a year has passed since the first disbursement of a 0 margin loan, the standard risk margin is applied to the loan, which for teachers is 1.69%.

Karin Ossipova, head of real estate lending at Coop Bank, said the bank wants to advance Estonian life.

“Teachers have a significant role in Estonia’s development, and concern about teachers’ workload and how they approach their role affects the whole society. As a bank, we cannot eliminate the workload gap , responsibility and remuneration of teachers, but we can help the teacher build the house he dreams of and deserves,” Ossipova explained, explaining why the bank decided to start offering home loans to teachers under the best conditions.

In addition to a more favorable lending margin, the bank exempts the teacher from the fee for the loan agreement and pays home insurance payments formalized through Coop Kindlustusmaakler in the first year of the loan in an amount of up to 100 euros. The teacher home loan customer also saves on bank charges as the teacher is offered a free Rahnu settlement package in the first year.

The bank offers teachers the best loan conditions on a permanent basis. All nursery school and general school teachers can apply for the teacher home loan, including assistants and support specialists, teacher assistants, school psychologists, special pedagogues, social pedagogues, study, heads of studies and directors of educational institutions. A teacher’s home loan can be used to purchase, build, renovate or refinance an existing home loan.

Karin Ossipova said the aim of the incentives is to make it as easy as possible for a teacher to build a house. To get a home loan from the bank on the best terms, the teacher can be both the main loan applicant and a co-applicant. You can apply for the teacher home loan along with several KredEx home loan guarantees, which help to significantly reduce the self-financing of your home loan.

“The most popular are, for example, the guarantee of a young specialist, the guarantee of a young family and the guarantee of families with children. Teachers who live further from the centers of attraction can also use the KredEx guarantee for the buyer of a house in a rural area and the co-loan offered by the Foundation for Rural Development (MES) to reduce their financing,” underlined Ossipova.

2024-01-15 07:08:31
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