How does Svea Part Payment (Erämaksu) work?Updated 4 days ago

1. The Basics: When you choose a fixed payment period

Svea Part Payment (in Finnish Erämaksu) is a one-time credit that allows you to pay for your purchase in pre-agreed monthly installments. When making your purchase, you select the most suitable payment period from the available options, during which the credit will be paid back.

Please note that using Part Payment requires two things:

• You must be at least 21 years old.

• Svea must grant you a positive credit decision.

2. Costs of Part Payment

Unlike the interest-free Svea Invoice, Svea Part Payment always includes credit costs from the date of purchase. These costs consist of credit interest and monthly handling fees.

• Example: For a €1,000 Part Payment credit with a 12-month payment period, the total cost of credit is €144.93. In this case, the Annual Percentage Rate (APR) is 29.02%, and the total amount to be paid is €1,144.93.

3. Flexible Repayment with Purchase Credit

If you want to pay a smaller amount per month than the original part payment installment, you can switch to the more flexible Purchase Credit (Ostoluotto). This allows you to define the monthly installment amount more flexibly.

• Costs: The Purchase Credit has a fixed credit interest of 19.95% as well as setup and handling fees. The minimum monthly payment is €10 or at least 3% of the total debt amount.

• Note: If you do not make payments according to the original Part Payment agreement (e.g., under campaign terms), you will automatically switch to repaying the credit according to the Purchase Credit terms.

Tracking Credits and Customer Service

You can easily track your open part payments 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.