Unsecured loan - loans for everything from washing machines to redecoration
Get a small loan from your local bank. An unsecured loan is a convenient way of financing both large and small purchases.
OP Tailored Consumer Credit
Unsecured one-off credit on which you get a decision conveniently online.
- 2,000–30,000 euros
- You don’t need collateral for your loan
- Personal interest rate 3.5–10.95% margin + 3-month Euribor
- Only for OP customers
Flexible Consumer Credit
Unsecured revolving credit that you can draw down according to your needs.
- 2,000–8,500 euros
- You don’t need collateral for your loan
- Interest rate 7.95% + 3-month Euribor
- Only for OP customers
Apply for unsecured loan with the bank without collateral or guarantors
You can apply for an unsecured loan with OP conveniently online. Select between two different unsecured loan alternatives, OP Tailored Consumer Credit and Flexible Consumer Credit. OP Tailored Consumer Credit is an unsecured loan drawn down at once that can be applied from 2,000 euros up to 30,000 euros based on your needs and repayment capacity.
If you'd prefer a revolving consumer credit, apply for Flexible Consumer Credit. It's ideal for financing small purchases. You can apply for Flexible Consumer Credit from 2,000 euros up to 8,500 euros.
To qualify for OP Tailored Consumer Credit or Flexible Consumer Credit, you must be a customer with OP. You can apply for a loan in the op.fi service or on OP-mobile if you have OP's credentials.
Why is it a good idea to apply for unsecured loan with OP?
It’s a good idea to apply for an unsecured loan with your own OP cooperative bank. You'll get a loan of a suitable amount and with the repayment period that suits you best. We don’t have hidden interests or other costs – you’ll always know the total cost of your loan.
Also, managing finances is easy and secure when you get all your banking services from OP. The loan repayment terms can be modified if your life situation changes, for example, if you change jobs or take parental leave.
It's a good idea to apply for an unsecured loan with OP because:
- You're entitled to a grace month for your credit.
- You can change the amount of the instalment or the due date of repayments.
- You can also pay off the entire loan
Who can apply for unsecured loan?
You can apply for unsecured OP Tailored Consumer Credit or Flexible Consumer Credit if:
- You are at least 23 years old and use OP cooperative bank as your main bank.
- You have no payment default entries, and your credit history is in order.
- You receive regular pay or a pension. A regular job makes it easier to get a loan.
- You can manage your current payment obligations.
- You have a permanent residence in Finland.
Financing without collateral for any bank's customers
Even if you weren't OP's customer, you can still apply for financing with us without collateral or guarantors. Any bank's customers can apply for financing with us, for example, for home improvement or some other large purchase. In that case, financing is provided through one of our partner retailers: after you've closed the deal with the seller, you repay the financing to OP in instalments suitable for you.
If you want to get financing from one of our partner retailers, fill in an application online in advance. You'll get a decision at once, so you can make your way to the store of your choice immediately after having received the decision and let them know that you'll be paying for your purchase using OP's financing service.
You can apply for financing without collateral up to 50,000 euros. The amount of financing varies between partner retailers.
Read more and apply for financing directly from our partner retailers
What's the interest rate on unsecured loans?
In comparing unsecured loans, pay special attention to the total costs of the different loan alternatives. The loan costs of unsecured loans consist of the interest rate, expenses and other charges and fees.
When applying for a loan without collateral, make sure that the loan costs have been specified clearly. Loan costs can be compared reliably on the basis of effective interest rate and total costs.
Flexible Consumer Credit is a revolving credit whose effective interest rate for 2,000 euros is 17.79 % when the loan interest rate is a 3-month Euribor + 7.95 percentage points (10.87 % in December 2024) and a six-euro loan servicing fee per month.
The estimated total amount payable would be 2,177.08 euros. This calculation is based on the assumption that the entire loan is drawn down and that the interest rate and charges and fees remain unchanged throughout the loan term. It is also assumed that the loan is repaid in the monthly minimum repayments of 225 euros, resulting in a loan period of 12 months.
The loan is granted by OP Retail Customers Plc.
Example calculation for a loan of 10 000 euros:
Loan with a personal margin of 3,5 per cent + a 3-month Euribor (2,92 %, 2.12.2024)
OP Tailored Consumer Credit is a one-off loan. Its effective interest rate for a loan of 10 000 euros with a 5-year payback period would be 7,71 % if the personal margin were 3,5 % and the loan servicing fee 6 euros per month.
The estimated total amount payable would be 11 974,57 euros. This calculation is based on the assumption that the loan is drawn down in a lump sum and the loan interest and charges and fees remain unchanged throughout the loan term. It further assumes that the loan is repaid in monthly instalments of 210 euros up to and including the final instalment.
Loan with a personal margin of 6,5 per cent + a 3-month Euribor (2,92 %, 2.12.2024)
OP Tailored Consumer Credit is a one-off loan. Its effective interest rate for a loan of 10 000 euros with a 5-year payback period would be 10,79 % if the personal margin were 6,5 % and the loan servicing fee 6 euros per month.
The estimated total amount payable would be 12 773,50 euros. This calculation is based on the assumption that the loan is drawn down in a lump sum and the loan interest and charges and fees remain unchanged throughout the loan term. It further assumes that the loan is repaid in monthly instalments of 225 euros up to and including the final instalment.
Loan with a personal margin of 10,95 per cent + a 3-month Euribor (2,92 %, 2.12.2024)
OP Tailored Consumer Credit is a one-off loan. Its effective interest rate for a loan of 10 000 euros with a 5-year payback period would be 15,48 % if the personal margin were 10,95 % and the loan servicing fee 6 euros per month.
The estimated total amount payable would be 14 079,16 euros. This calculation is based on the assumption that the loan is drawn down in a lump sum and the loan interest and charges and fees remain unchanged throughout the loan term. It further assumes that the loan is repaid in monthly instalments of 245 euros up to and including the final instalment.
The loan is granted by OP Retail Customers Plc.