Legal Problems and Regulations related to Easy-access Non-secured Consumer Loans in Estonia

  • Karin Sein
  • Urmas Volens
Keywords: consumer credit, electronic non-secured consumer loans, instant loans, usury, responsible lending, interest-rate restrictions


The article analyses the current market situation related to electronic non-secured consumer loans (instant loans) in Estonia and social problems related to them. Firstly, the authors provide a legal and institutional overview of the instant‑loan market. The article further covers the market situation and statistics related to the credit products and possible numbers of users and providers of instant loans. Then, the administrative and also civil-law consumer‑protection measures currently in force in Estonia are described, and the authors assess whether those measures have been functioning efficiently in practice. Finally, the ongoing discussions of further legislative measures are described and the associated legislative proposals evaluated.