Lending

We have always ensured not only favourable lending conditions, but also maximum support during the loan repayment period. For successful continuation of cooperation and fulfillment of obligations under the loan agreement, we inform you about the further order of servicing loans.

Order of Repaying Liabilities to ABLV Bank

From 26.02.2018, all clients pay cash to the bank’s cash desk in EUR or USD or transfer funds for the repayment of liabilities to ABLV Bank, AS from another bank in EUR, specifying the following details:

For individual’s liabilities:

  • payment beneficiary — ABLV Bank
  • beneficiary account number (including currency abbreviation):
    • LV95AIZK0161554433EUR for EUR;
    • LV45AIZK0161554433USD for USD.
  • payment purpose — mandatory information: name and surname, personal identity number (for LV residents) or date of birth (for non-residents) of the borrower. Additional information (optional): current account number or any other information for identification.

For legal entity’s liabilities:

  • payment beneficiary — ABLV Bank
  • beneficiary account number (including currency abbreviation):
    • LV95AIZK0161554433EUR for EUR;
    • LV45AIZK0161554433USD for USD.
  • payment purpose — mandatory information: name, registration number of company. Additional information (optional): current account number or any other information for identification.

If a payment is made under the collection of debt to ABLV Bank:

  • receiver — ABLV Bank
  • receiver’s account number — for EUR: LV42AIZK0908Z00000176
  • payment details — “payment under collection”, name, surname of the debtor or company-debtor’s name, debtor’s personal identity number/client code, or company registration number, loan contract number or date of the agreement or court decision (for identification).
  • Property insurance

    Pursuant to provisions of the loan agreement between the customer and ABLV Bank, the real estate used as the loan collateral should be insured during the whole term of the loan agreement, in accordance with ABLV Bank requirements and with ABLV Bank stated as loss payee.

    To ensure more convenience for you, together with our cooperation partners — insurance companies, we have prepared unique and especially beneficial insurance terms only for the clients of ABLV Bank for insuring apartments with ABLV Apartment Insurance. We offer to handle insurance of pledged real estate instead of you, thus making the process of completing a policy compliant with the bank’s requirements easier and automatically debiting the premium from your special account for settlement of liabilities with ABLV Bank.

    We complete the pledged real estate insurance procedure in cooperation with the following partners of ABLV Bank:

    • Seesam Insurance, AS Latvian branch,
    • ERGO Insurance SE Latvian branch.

    In case you wish to arrange insurance of the real estate pledged in favour of ABLV Bank on your own, then within the period stated in the loan and/or mortgage agreement, you have to submit the original of the new insurance policy to ABLV Bank, which should be previously agreed upon with ABLV Bank and should comply with our requirements, including the following:

    • private houses, buildings, and structures should be insured at their replacement value;
    • apartments should be insured either at their current market value or replacement value, whichever is higher;
    • elements of construction of apartments, private houses, buildings, and structures should be insured at their replacement value;
    • where expensive and exclusive finishing solutions are used in apartments or private houses, the finishing should be insured at the value of respective investments, the amount of which should be agreed upon with ABLV Bank;
    • commercial properties should be insured at their current market value;
    • insurance policy should be purchased for one year term;
    • the insurance premium should be paid in a lump sum.

    Original payment order evidencing payment of the whole insurance premium (bearing the signature of the officer of respective credit institution and a seal/stamp, if required by internal regulations of the respective credit institution) should be submitted as well.

    Unless a new policy that is previously agreed upon with ABLV Bank and complies with our requirements is submitted within the period stated above, ABLV Bank shall be entitled to enter into new insurance agreement, choosing the insurance company and conditions at its own discretion. You will be notified of this by SMS informing of insurance policy made and stating the amount of insurance premium, which you shall have to pay within 5 days after the moment of entering into the insurance agreement. To stay informed about the expiry date of the insurance policy, use our Internetbank.

    In case you wish to arrange insurance of the real estate pledged in favour of ABLV Bank on your own or want it to be insured by a company not included in ABLV Bank list, or where insurance amount of a single object exceeds EUR 2 100 000 (or equivalent amount in other currency), the insurance conditions (on all instances mentioned above) and/or the insurance company (if the same is not included in the said list) should be mandatorily agreed upon with ABLV Bank in writing before entering into the insurance agreement.

    ABLV Bank is entitled to decline an insurance agreement the provisions of which have not been previously agreed upon with ABLV Bank in accordance with the above procedure.

    If you have any questions, please contact your private bankers or call Client Line at +371 6700 3300.

    Insurance companies acknowledged by ABLV Bank:

    • Seesam Insurance AS Latvian branch,
    • BTA Insurance Company SE;
    • ERGO Insurance SE Latvian branch.

    ABLV Bank decides on entering into insurance agreements with insurance companies not listed above and acceptance of policies issued by those on a case-by-case basis.

  • Money market indices

    If a floating rate linked to the money market index is determined for the calculation of loan interest, please see the LIBOR and EURIBOR indices here.

Contact the loan manager to obtain advice and find the solution tailored exactly to your needs or the needs of your company.