What is B Secure?

B Secure is an extra service Bondora offers to borrowers to help them be prepared for the unexpected. With B Secure activated, you can choose your payment date, change your loan duration, or even take a payment holiday! And you'll get it for just €19.99 per month, regardless of the number of active loans you have.

B Secure fee:

B Secure's service fee is €19.99 per month, regardless of the number of active loans and whether you use it or not.

• The B Secure fee is added to your monthly payment. The service fee is automatically deducted from your Bondora account balance once a month on the payment date following the payment schedule. Make sure you have enough money in your Bondora account to pay both the monthly loan payment and the B Secure bill.
• After activating the B Secure service, the first invoice must be paid together with the next monthly payment, regardless of whether the payment schedule has been changed or not.
• B Secure can apply to all your existing and future loan agreements and terminates with your final loan agreement.

The B Secure service allows you to:

• Take a principal payment holiday between 1-12 months (NB! During this period, you will still need to pay interests and commissions).
• Change the length of the loan schedule between 1-120 months.
• Change the monthly payment date to any date between 1-27.
• Get payment protection insurance coverage.

Note: You don't have to select all the options at the same time. If you do not make any selections, the previous terms will continue to apply. For example, if you do not select a new payment date, the previous payment date will be used for the new payment schedule.

How to qualify for B Secure:

With B Secure, you can request a new payment schedule if you meet these conditions:

• If there is one loan agreement, you must have paid at least one full monthly payment within the valid payment schedule.
• If you have more than one loan, you can use B Secure only after you have paid at least the first monthly payment under the new agreement in full.
• If you have recently changed your schedule using B Secure, you can use the service again if you have paid the full amount of at least one new scheduled monthly payment.
• B Secure can be used as long as the contract is not terminated/loan defaulted.

If you have debt when changing the payment schedule (this includes unpaid invoices), your loan debt will be divided into the new schedule. Therefore, the following payments on the new schedule may be higher due to the added debt from your loan. Please note: unpaid invoices are not added to the payment schedule and must be paid separately. 

How to cancel B Secure

Please contact our Support team via the feedback form below to cancel your B Secure. The last bill for B Secure must be paid with the next monthly payment. B Secure becomes inactive 30 days after it's been cancelled.

How does payment insurance coverage work?

1. What is the Payment Protection Insurance that comes with B Secure?
Payment Protection Insurance is one feature that comes with B Secure, which may help to cover Your loan payments in difficult life situations like involuntary job loss or accident-related incapacity. If You have activated the B Secure service and the event meets the eligibility criteria, that is defined by the insurance terms, Bondora can use its insurance coverage to temporarily cover Your loan payments.

Important information to highlight: Bondora has entered into an insurance contract to insure its own financial risk, with the purpose of covering Bondora's financial loss in cases where a customer fails to meet their obligations under a loan agreement according to the insurance terms. Bondora is the policyholder and the insured party under the insurance contract. The customer is not a party to the insurance contract and is not the insured party.

2. What's covered?
Accident-related incapacity means a sudden and unforeseen loss of Your ability to work or death due to an accident, and is covered if the following conditions are met:

· The event was unexpected and caused by an external factor beyond Your control, resulting in health damage or death;

· The accident occurred while the insurance policy was active;

· A medical certificate confirming incapacity for work has been issued by a doctor;

· Your incapacity has lasted for more than 30 days.

Involuntary job loss means the termination of Your employment by Your employer due to reasons not caused by You, and is covered under the following conditions:

· Your job was based on a paid employment or service contract regulated by the Employment Contracts Act or Civil Service Act;

· You were employed in that role for at least 6 months before purchased B Secure/B Secure product;

· Your dismissal is classified as redundancy according to the Employment Contracts Act or Civil Service Act;

· The redundancy notice or information became known to Bondora during the active insurance period.

3. What is NOT covered?
Bondora financial loss insurance does not cover situations such as:

· Illnesses caused by viruses, infectious disease outbreaks, epidemics or pandemics, or measures taken to contain them;

· Medical treatment, including injuries resulting from surgery;

· Poisoning due to voluntarily ingested solid or liquid substances;

· Mental health disorders or conditions, HIV, AIDS, or hepatitis B or C;

· Suicide or attempted suicide;

You are not covered if the incident results from:

· Air sports, mountaineering, speed or downhill skiing, off-piste skiing, whitewater rafting, auto or motorsports, or other extreme sports;

· Working as part of an aircraft crew, in the defence forces during high-risk operations, military service, or being on a military mission abroad.

You are also not covered if Your employment ends under the following conditions:

· You resigned voluntarily, or Your contract ended by mutual agreement;

· Your dismissal was due to loss of trust, dishonesty, or corruption;

· Your job ended during a probation period, or it was a fixed-term or temporary contract;

· You retired or were placed on incapacity pension.

4. When won't Your loan payments be covered?
Bondora's financial loss insurance may not apply if certain conditions are breached. This means Your loan payments will not be covered under B Secure if:

· You have intentionally or through gross negligence violated any obligation outlined in the insurance contract, and this has influenced the occurrence, size, or assessment of the damage;

· You knowingly provided false information about the circumstances or extent of Your claim;

· The event was caused intentionally by Your actions

Important: Please note that the following is not an exhaustive list. The complete list can be seen from the insurance terms here.

5. How to activate the process?

a) Notify Bondora as soon as the event occurs (job loss or accident) via our customer support contact form.

b) Submit the required supporting documents;

c) Provide written consent for data transfer to the insurer Elama Kindlustus AS and Cachet Insurance Broker OÜ.

6. Who is the insurer?

The insurance contract is concluded between Bondora and the licensed insurer Elama Kindlustus AS.

7. How long does coverage last (the “Insurance Period”)?

Coverage under B Secure is valid for a twelve-month period, starting from the date you first activate the service. This is referred to as the insurance period. Coverage may automatically renew for another 12-month period if all required conditions—such as ongoing payment of the service fee—are met.

If you reach the maximum annual coverage limit for a specific insured event (e.g. job loss), you cannot submit a new claim for that same event type within the same 12-month period.

Coverage may also end earlier if your B Secure service is cancelled or if the insurance contract is terminated in accordance with its terms.

Bondora insurance coverage will be active starting 01.05.2025.