Loan for home repairs and renovation

Renovation loan is a convenient solution for receiving the funds you need to repair or renovate your home. If you are planning to update, repair or remodel your home, Renovation loan is a suitable choice. It can also be used to set up a garden, terrace or garage. Inbank Renovation loan offers flexible repayment terms and competitive interest rates to meet your financial needs.

Renovation loan is available from €2,000 to €10,000, with a repayment period from 12 to 84 months. Renovation loan requires no down payment and no collateral. You can apply for the loan easily and remotely. You will receive a response to your application within a few minutes. Once the loan is approved, the agreement can be signed remotely in a way that is convenient for you - using Smart-ID or an electronic signature. You have 14 days to decide whether to accept the offer. Checking the offer does not create any obligations and does not affect your creditworthiness.

Interest rates depend on the desired amount, term and selected type of loan. To find out your interest rate, please fill in the application. It will take only a few minutes. The interest rate is fixed for the entire loan period and is not linked to Euribor. This means you can be sure that your monthly payment will remain unchanged throughout the loan period.

All Latvian citizens or residence permit holders who are at least 21 years old, having regular monthly income and a permanent job. You cannot have delayed payments or outstanding debt liabilities. You must have an open current account in one of the Latvian banks, a valid identity document issued in the Republic of Latvia, and a valid mobile phone number and e-mail address.

The maximum loan amount for Renovation loan is €10,000. The amount depends on several factors, such as your creditworthiness, current income, ability to repay the loan and other existing credit obligations. We offer different loan amounts to meet different needs. When filling in the loan application, you can indicate your desired amount, and we will make sure to tailor the loan specifically to you.

Our Renovation loan comes with flexible repayment terms. The repayment period can vary based on the loan amount and your preferences. We offer various repayment options, ranging from 12 months to several years. Our Customer Support can help you determine a suitable repayment schedule that aligns with your financial capabilities.

Applying for a Renovation loan with us is easy and convenient. You can start the application process online by specifying the desired amount and term in the calculator. We'll ask for some personal and financial information to assess your eligibility.

To receive a loan, you need to submit a bank account statement for the last 6 months. This can be easily done using secure-integrated form in the application, where you give your consent to the submission of the account statement. Or you can also add it as a attachment in pdf format including all incoming and outgoing payments during application process.

If you are a resident of Latvia employed abroad, you must submit an account statement for the last 12 months (if the salary was received in a foreign account) and/ or submit a statement from the tax administration regarding the payment of state taxes for the last taxation year.

When using Renovation loan keep the purchase documents, as Inbank may request those in order to ensure that the loan is used for its intended purpose.

You will receive the money to your personal bank account not later than the next working day.

You will receive the payment schedule with your contract. We will send you friendly reminder before each payment. You can always check your loan balance by logging in your Inbank customer profile.

Full early repayment of loan is free of charge. Email shall be sent to info@inbank.lv, indicating your personal data, agreement number and the date, on which full loan repayment is planned.

If you have lost your job or will not be able to fulfil your liabilities due to any other reasons – immediately contact our Customer Support to agree on the most suitable solution. Each situation is assessed individually. For us to assess your situation, an email shall be sent to info@inbank.lv, indicating your personal data, agreement number and the reasons for not being able to make payments in a timely manner.

Yes, you can change the date of monthly payment. To apply for these changes, an email shall be sent to info@inbank.lv, indicating your personal data, agreement number and changes you wish to make. The amendments to the agreement are made according to the pricelist.