Home > Salary > Latvia > Loan Servicing Specialist
A loan servicing specialist is responsible for managing and overseeing the repayment process of loans. They work in financial institutions, such as banks or mortgage companies, and act as a liaison between borrowers and lenders. Their main duties include processing loan payments, maintaining accurate records of loan transactions, and ensuring compliance with loan terms and regulations. Loan servicing specialists also handle customer inquiries, resolve any issues or disputes related to loan payments, and assist with loan modifications or refinancing requests. They must have a strong understanding of loan products, financial regulations, and excellent communication skills to effectively communicate with borrowers and provide them with accurate information.
Estimated Yearly Salary: 16,060 EUR
Estimated Monthly Salary: 1,338 EUR
Estimated Weekly Salary: 309 EUR per week
Estimated Hourly Salary: 8 EUR per hour
Values are pre-tax
Last revision of data: 2025-01-04
Estimated Monthly Salary: 1,289 EUR
Estimated Weekly Salary: 297 EUR per week
Estimated Hourly Salary: 7 EUR per hour
Last revision of data: 2024-01-07
Estimated Yearly Salary: 16,006 USD
Estimated Monthly Salary: 1,334 USD
Estimated Weekly Salary: 308 USD per week
Estimated Hourly Salary: 8 USD per hour
Difference in salary year over year or average salary increase is approximately
4 %
Data confidence is - relatively high
Data fetched from dabase: 14 submissions.
Results are anonymized. Amounts indicated are pre-tax, meaning no deductionts yet have been made to the basic salary. Salaries where there are less than 3 entries are not displayed.
Want to check how your salary compares? Submit your own salary here
Estimated Yearly Salary: 16,060 EUR
Estimated Monthly Salary: 1,338 EUR
Estimated Weekly Salary: 309 EUR per week
Estimated Hourly Salary: 8 EUR per hour
By working as Loan Servicing Specialist a person can save up to 474 USD per month or 5,686 USD yearly. Values are pre-tax.
NOTE: These values are estimates and are averaged for the whole country. Furthermore the value is likely exaggerated as no other expenses are taken into account in the projection. Unessential expenses are very subjective and are difficult to assess. Most likely the previously estimated number is significantly lower for majority of people. Expenses in different cities across the country may vary. Above values accuracy is low and is based on limited set of data obtained.
For more information regarding expenses in Latvia, see costs of living in Latvia.
Estimated Yearly Salary for Loan Servicing Specialist
Last revision of data: 2025-01-04
Data as of 2025
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Loan Servicing Specialist salary in Latvia
Average Yearly Salary of Loan Servicing Specialist in Latvia is approximately 16,060 EUR (16,006 USD). Data is for 2025 and indicates a pre-tax value. The salary itself depends on multiple factors such as seniority, job performance, certifications, experience or any other bonuses. The value indicated is an average amount based on records we have in database. Real values may vary. The data is for orientational purposes.
What does Loan Servicing Specialist do?
A loan servicing specialist is responsible for managing and overseeing the repayment process of loans. They work in financial institutions, such as banks or mortgage companies, and act as a liaison between borrowers and lenders. Their main duties include processing loan payments, maintaining accurate records of loan transactions, and ensuring compliance with loan terms and regulations. Loan servicing specialists also handle customer inquiries, resolve any issues or disputes related to loan payments, and assist with loan modifications or refinancing requests. They must have a strong understanding of loan products, financial regulations, and excellent communication skills to effectively communicate with borrowers and provide them with accurate information.
Skills: loan servicing, financial institution, loan repayment, customer service, loan management, compliance.
Job industry: Finance
Job industry: Finance
How much does Loan Servicing Specialist make?
Salary details
How much does Loan Servicing Specialist make?Estimated Yearly Salary: 16,060 EUR
Estimated Monthly Salary: 1,338 EUR
Estimated Weekly Salary: 309 EUR per week
Estimated Hourly Salary: 8 EUR per hour
Values are pre-tax Last revision of data: 2025-01-04Comparing salary to last year:
Estimated Yearly Salary: 15,467 EUREstimated Monthly Salary: 1,289 EUR
Estimated Weekly Salary: 297 EUR per week
Estimated Hourly Salary: 7 EUR per hour
Last revision of data: 2024-01-07Loan Servicing Specialist estimated salary in USD
For easier comparison here is an estimated salary in USD:Estimated Yearly Salary: 16,006 USD
Estimated Monthly Salary: 1,334 USD
Estimated Weekly Salary: 308 USD per week
Estimated Hourly Salary: 8 USD per hour
Difference in salary year over year or average salary increase is approximately
4 %About these results
Data confidence is - relatively high Data fetched from dabase: 14 submissions.
Results are anonymized. Amounts indicated are pre-tax, meaning no deductionts yet have been made to the basic salary. Salaries where there are less than 3 entries are not displayed.
Want to check how your salary compares? Submit your own salary here
Compare salary to other countries
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Country:
Salary comparison to National average
Latvia is a country located in Northern Europe, bordered by Estonia to the north, Lithuania to the south, Russia to the east, and Belarus to the southeast. It has a population of approximately 1.9 million people and covers an area of about 64,589 square kilometers.
Estimated national average yearly salary is 19,565 EUR (21,500 USD). Value indicated is pre-tax. Below graph shows estimated Loan Servicing Specialist job salary compared to average salary in Latvia.
Comparison shows that a person working as Loan Servicing Specialist in Latvia earns on average:
0.82 times the average salary (or 82% of average salary).
Estimated national average yearly salary is 19,565 EUR (21,500 USD). Value indicated is pre-tax. Below graph shows estimated Loan Servicing Specialist job salary compared to average salary in Latvia.
Comparison shows that a person working as Loan Servicing Specialist in Latvia earns on average:
0.82 times the average salary (or 82% of average salary).
Is Loan Servicing Specialist a well paid job?
Yes, our data show that Loan Servicing Specialist is an averagely well paid job that still allows for some yearly savings. With years and experience the salary might increase even further, resulting in higher satisfaction.What is considered a high salary for Loan Servicing Specialist?
High salary for Loan Servicing Specialist would be somewhere between 17,666 EUR and 23,287 EUR. However this is an estimation based on Gaussian Distribution.How much can you save working as Loan Servicing Specialist in Latvia?
Living in Latvia the approximate monthly expenses are: 860 USD. This amount covers basic needs such as food, housing, clothing, healthcare and education costs for a single person. No luxury expenses such as traveling, leisure, hobbies are included in the estimation.Estimated Yearly Salary: 16,060 EUR
Estimated Monthly Salary: 1,338 EUR
Estimated Weekly Salary: 309 EUR per week
Estimated Hourly Salary: 8 EUR per hour
By working as Loan Servicing Specialist a person can save up to 474 USD per month or 5,686 USD yearly. Values are pre-tax.
NOTE: These values are estimates and are averaged for the whole country. Furthermore the value is likely exaggerated as no other expenses are taken into account in the projection. Unessential expenses are very subjective and are difficult to assess. Most likely the previously estimated number is significantly lower for majority of people. Expenses in different cities across the country may vary. Above values accuracy is low and is based on limited set of data obtained.
For more information regarding expenses in Latvia, see costs of living in Latvia.
Salary comparison to region and neighbouring coutries
Country's neighbours are: Estonia, Russia, Belarus, Lithuania.. To make it easier for comparison a conversion from local currency to USD has been made (conversion rates may vary).Estimated Yearly Salary for Loan Servicing Specialist
Estonia is 20,548 USD
Russia is 9,556 USD
Last revision of data: 2025-01-04Salary increase per years of experience
Based on data available the salary increase per years of experience is as following- 0 years (beginner) equals base salary
- 1 to 5 years of experience yields
+12% salary increase- 6 to 10 years of experience yields
+25% salary increase- 11 to 15 years of experience yields
+16% salary increase- 16 to 25 years of experience yields
+9% salary increase- more than 25 years of experience yields
+10% salary increaseTop 10 highest salaries in Latvia
(224,317 EUR per year, pre-tax.)
2. Cardiologist
(186,760 EUR per year, pre-tax.)
(179,947 EUR per year, pre-tax.)
4. Neurosurgeon
(174,646 EUR per year, pre-tax.)
(174,433 EUR per year, pre-tax.)
6. Urologist
(170,871 EUR per year, pre-tax.)
(170,733 EUR per year, pre-tax.)
(170,497 EUR per year, pre-tax.)
(169,948 EUR per year, pre-tax.)
(169,943 EUR per year, pre-tax.)
Data as of 2025Random salary:
Line service supervisor aviation fbo (12,913 EUR per year, pre-tax.)
Manufacturing technician optical lab (10,718 EUR per year, pre-tax.)
Quality administrative assistant (12,889 EUR per year, pre-tax.)
Cryptographer (78,531 EUR per year, pre-tax.)
Security architect it (54,855 EUR per year, pre-tax.)
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