How does Svea Invoice work?Updated 3 hours ago

1. The Basics: When you pay your invoice on time

When you choose Svea Invoice as your payment method, you get 30 days of interest-free payment time for your purchase. If you pay the invoice in full by the due date, you will not incur any extra costs, such as handling fees or interest.

Please note that paying by invoice requires two things:

• You must be at least 21 years old.

• Svea must grant you a positive credit decision, for which they will check your credit information.

2. Costs: If your invoice payment is late

If the invoice is not paid by the due date, additional costs will be added.

• Payment Reminder: A €5 fee is charged for a late payment reminder.

• Penalty Interest: Penalty interest according to the Finnish Interest Act will accrue on the unpaid amount. For consumer credits, however, the penalty interest will be equal to the original credit interest (19.95%) for a maximum of 180 days after the debt has fallen due.

• Other Fees: A €5 fee is charged for postponing the due date, and a €10 fee for extra document copies.

3. Converting the invoice to a credit agreement (payment in installments)

If you wish, you can convert the invoice into a flexible credit agreement and pay it in smaller monthly installments over a maximum of 36 months. In this case, separate contract terms will apply.

• Costs: A fixed credit interest of 19.95% as well as setup and handling fees are charged on the credit agreement, starting from the date of purchase. The minimum monthly payment is €10 or at least 3% of the total debt amount.

• Example: For a €1,000 credit agreement with a 12-month payment period, the total cost of credit is €116.33, the Annual Percentage Rate (APR) is 22.93%, and the total amount to be paid is €1,116.33.

• Early Repayment: You can pay off the entire credit balance early without incurring additional fees.

Tracking Invoices and Credits & Customer Service

You can easily track your open invoices and credits in Svea's My Pages (Omat sivut) service. If you have questions about billing, you can contact Svea's customer service by phone at +358 9 4242 3330 or via the contact form on their website.