Savings and investments

Frequently asked questions

Can a minor save and invest money?

Young people aged between 15 and 17 can save and invest independently on OP-mobile with their parents’ or guardians’ consent. After the consent is given, the young person can view and make changes to all their owned savings and investments. Please note that the authorisation does not apply to possible insurance assets.

The young person can buy and sell funds and invest in stocks through a book-entry account. Minors cannot buy complex investment products or investment products listed outside the European Economic Area. Complex investment products include complex investment funds and ETFs, structured investment products, warranties and certificates. 

Learn more and authorise a young person to save and invest independently here 

Where can I find the price list for saving and investing?

You can all find all charges and fees for saving and investing in the list of investment charges and fees.

See our list of investment charges and fees

 

How do I start investing in stocks?

To get started, you’ll need an OP user ID and account. For equity investment, you need to open a book-entry account or an equity savings account. At the same time, you can choose an investment service package that suits you. After this, you can begin investing in stocks on OP-mobile and at op.fi.

Learn more about investing in stocks

 

How do I place a share order?

You can place share orders easily on OP-mobile and at op.fi.

Learn more about share orders at op.fi

 

Should I buy equities on an equity savings account or a book-entry account?

The answer depends on your investment strategy, in other words, how long your investment horizon is, in what investment vehicles you invest and what your investment targets are. In many cases, a combination of an equity savings account and a book-entry account is the best option if you want to take advantage of the benefits of both accounts.

Learn more about the differences between an equity savings account and a book-entry account

 

How can I transfer my book-entry account to OP?

You can transfer a book-entry account here > (only in Finnish)

Please note that there is a delay of 5 weekdays when transferring a book-entry account, during which you won’t be able to trade in stocks.

How are dividends taxed?

The taxation of dividends depends on your amount of capital income and whether you have invested in an equity savings account or book-entry account.

  • The tax rate of the equity savings account is 30% or 34%, depending on your capital income
  • The tax rate of the book-entry account is 25.5% or 28.9%, depending on your capital income

With the equity savings account, dividends are taxed only when you withdraw funds from the account. Dividends paid to a book-entry account are taxed annually.

How do I start investing in mutual funds?

You can easily start investing on OP-mobile or the op.fi service by making a one-off investment or by starting monthly investing. You can change your investment amount, put your investing on hold, switch to another fund or sell your investments. The money will be transferred to your account within 1–2 banking days. 

Learn more about our range of mutual funds and choose the fund that you want by clicking Buy. If you wish to discuss the options available to you, use the chat feature at op.fi (in Finnish) or OP-mobile (in English) or call our Customer Service at 0100 0500 (Mon–Fri 8–16 mobile charge/local network charge). You can also book an appointment. 

Before you can get started, you need to sign an OP Savings and Investments Agreement. You can sign the agreement when buying the fund.

Book an appointment > (only in Finnish)

Read more about funds

How do I start monthly investment in funds?

You can start monthly investment easily on OP-mobile and at op.fi.

Learn more about monthly investment

 

How do I start saving while paying off a home loan?

It often takes many years to repay a home loan, so it therefore pays to start saving while repaying the loan. When you save money while repaying the loan, you’ll have a home of your own after the loan term and a sum of money saved with a good return. You can also extend your loan term and keep your monthly expenses unchanged while investing in a mutual fund.

Read why saving while paying off a loan is smart

 

How do I redeem my mutual fund assets?

Redeeming or selling fund units is easy on OP-mobile or the op.fi service.

Redeem funds in the op.fi service > (only in Finnish)

How do I withdraw assets under savings or unit-linked insurance policies?

Surrendering an OP Unit-linked Insurance policy can be done by messaging us on OP-mobile or the op.fi service. As the message subject, select Endowment, life and pension insurance (Säästö-, henki- ja eläkevakuutukset). When sending the online message, you will find more detailed instructions on what to include in the message.

Message us here > (only in Finnish)

If you want to leave the insurance in force, you cannot withdraw all assets. You can check the minimum amount to be left by calling OP Life Assurance Company’s customer service at 010 253 6100 (Mon–Fri 8–16). The processing time of the application is 1–2 weeks.

Alternatively, you can book an appointment for a meeting at a bank branch. Bring a valid personal photo ID document with you to the meeting.

Book an appointment > (only in Finnish)

Can I withdraw pension insurance savings prematurely?

The criteria for the surrender of voluntary pension insurance are stipulated by law and by the terms and conditions of pension insurance. You can withdraw savings either fully or partially before the insurance falls due for payment, only if certain specific criteria for surrender are met.

Such surrender criteria include:

  • the insured person’s marriage has ended in divorce or the spouse’s death
  • the insured person has been unemployed for at least 12 months or has become permanently or partially disabled
  • the insurance company has changed the policy's calculation bases, increasing the policy's expenses, or
  • the insurance company has changed its insurance terms and conditions by cutting the insurance benefits.

The surrender has to be applied for in writing from the insurance company within a year from the date when the surrender became possible.

If any of the aforementioned surrender criteria is met and you wish to agree on the surrender of your OP Personal Pension Insurance, call OP Life Assurance Company’s customer service, tel. 010 253 6100 (Mon–Fri 8–16), for more detailed instructions.

When you terminate the insurance, the insurer will withhold tax and debit a surrender charge for the entire amount of the pension insurance policy. You can check the surrender charge and tax implications from OP Life Assurance Company’s customer service.

How do I change my payment plan for saving through insurance?

You can change your payment plan in the op.fi service by navigating to Saving through insurance  and selecting Payment plan.

Change your payment plan > (only in Finnish)

However, note that reducing or terminating your payment plan may affect the fees charged for the insurance policy. For more information on fees applicable to your insurance policy, please call OP Life Assurance Company’s customer service at 010 253 6100 (Mon–Fri 8–16).

Once you have changed your payment plan, check any e-invoices that are due in your E-laskuarkisto (e-invoice archive) and remove those that have been made according to the old payment plan.

Go to e-invoice archive > (only in Finnish)

How do I start a monthly investment in funds for a child?

You can begin saving for a child in the op.fi service. You’ll need to open a current account for the child and get consent from both guardians. Before investing, the guardians must accept the OP Savings and Investments Agreement and activate custodial services for the child.

Start investing in funds for a child

Book-entry account for a child – How do I open a book-entry account for an underage child?

To open a book-entry account, the minor must have a current account and an OP Savings and Investments Agreement.

The guardian(s) must consent to the agreement. Both guardians can sign the agreement, or one of the guardians may grant a power of attorney authorising the other to sign the agreement. If an online power of attorney is used, both guardians must be OP customers.

Grant a power of attorney in the op.fi.service > (only in Finnish)

The minor needs a current account which serves as management account for the book-entry account. The easiest way to open a current account is to do it in the op.fi service.

To open a current account for a child, you’ll need:

  • the name and personal ID code of the minor.
  • your OP user ID.
  • the other guardian’s online banking user identifiers at OP or any other Finnish bank. The guardian must accept the agreements for opening the account in our electronic signature service.
  • About 15 minutes of your time. 

More about current accounts and how to open one

Opening a book-entry account

If both parents have signed the OP Savings and Investments Agreement for a minor, either of the guardians may open a book-entry account for the minor without a separate consent from the other guardian. The easiest way to open a book-entry account is by calling OP Customer Service, tel. 0100 0500 (Mon–Fri 8–16, mobile charge/local network charge).

If the minor has no OP Savings and Investments Agreement, you can open a book-entry account by scheduling an appointment at the bank. If both guardians cannot attend the meeting at the same time, the other can give their consent by filling in and sending an online power of attorney. 

Book an appointment > (only in Finnish)

Give consent with a power of attorney > (only in Finnish)