Frequently asked questions

Refinancing may be a good option if you have multiple financial obligations—such as consumer loans from other banks, payday loans, leasing agreements, or similar credit products—and would like to reduce your total monthly repayments. With Urbo Bankas, you can consolidate these obligations into a single consumer loan, making your repayments simpler to manage.

By consolidating several loans with higher interest rates (such as payday loans) into a single loan, you can benefit from one, typically lower, bank interest rate. In addition, by choosing an optimal repayment term, your monthly loan payments can be reduced, making your financial commitments easier to manage.

Yes, if your financial situation allows it.

For example, if you have an existing consumer loan of EUR 5,000 and need an additional EUR 2,000, you can apply for an EUR 7,000 refinancing loan. The bank will repay your existing loan, and the remaining amount will be transferred to your designated bank account.

No. In the long term, refinancing can often improve your credit history. Instead of having multiple higher-risk credit obligations, your credit record will reflect a single loan with one bank, which may indicate a more manageable debt structure.

In most cases, the bank refinances loans for customers who do not have any overdue payments at the time of application.

Please note that each case is assessed individually, and the final decision depends on your overall financial situation and creditworthiness.