ASP account
Save with an ASP account to buy your first home.An easy and rewarding way to save for your first home
Save 10% of the price of your first home in an ASP account and you can gain attractive loan conditions. Start by saving as little as 50 euros a month.
Exceptionally high interest rate on savings towards buying a first home
In addition to the annual deposit rate, your ASP savings will be increased by generous bonus interest when you buy your first home. The OP cooperative bank's owner-customers will also earn OP bonuses on their savings in the ASP account.
Better loan terms and conditions for ASP savers
With ASP savings and the related state guarantee, you can take out a cost-effective ASP loan with an affordable interest rate for your first home. You are also entitled to 10 years of government interest subsidy on your loan.
The key to the first home of your own – what is an ASP account?
An ASP (home saver’s bonus interest) account is a convenient and rewarding way to save for the first home of your own. It offers a better interest rate on your savings. Once you’ve saved the required amount and are ready to buy a home, you can take out an ASP loan with attractive terms and conditions. As an owner-customer of your OP cooperative bank, you will also earn OP bonuses on the money in your ASP account.
How do I open an ASP account?
Opening an ASP account is easy. Use your OP user ID to log into the op.fi service and start saving for your first home today. Alternatively, you can book an appointment or call our Customer Service for advice on becoming an ASP saver.
Who is the ASP savings scheme for?
Saving with an ASP account is ideal for you if you are dreaming of buying your first home and you are 15–44 years old. You should start saving well in advance, even if you don’t plan to buy a home for several years. You won’t need a regular income to start saving with the ASP scheme.
How does the ASP savings scheme work?
- You make the first deposit into your ASP account when you open it.
- To fulfil the terms of your ASP account, you must save 150–4 500 euros each quarter for a period of at least eight quarters. There is no maximum period for saving.
- Saving is flexible: the quarters don’t need to be successive and you can skip quarters if you need to. Also, you can easily change the amounts and timing of savings as you go along.
- In addition to the annual 1% tax-free deposit rate of ASP accounts, we will pay 4% tax-free bonus interest for the first year you make deposits and the five following years. The bonus interest will be paid when the ASP terms and conditions are met and you raise the ASP loan for buying a home.
- When you have saved 10% of your home’s purchase price, the bank can grant you the remainder as an ASP loan. If you are buying a home with another person, you must buy at least 50% of the home and save 10% of your share of the price.
- Your ASP account is closed in the OP cooperative bank when you purchase a home. Otherwise, you can close an ASP account in the op.fi service or by calling our Customer Service. Remember that you can always take a break from ASP saving.
The account is granted by the OP cooperative bank.