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ASP Account and Loan

Keys to your first own home

An ASP account – or an account under the state-subsidised housing saving and support scheme – offers a convenient and rewarding way to save for your first own home. When you save up some of the money needed to buy a home, we will lend the rest to you.

ASP in a nutshell:

  • Begin ASP saving by opening an ASP account at your bank. You do not need to have regular income yet.
  • You can begin ASP saving when you are aged between 15 and 39.
  • The saving plan for the account is flexible, meaning that it can be adjusted depending on your life situation and the size of your purse.
  • When you have saved 10% of your future home's purchase price, the bank will grant you the rest of the home price in the form of an ASP loan.

Funds in an ASP Account generate OP bonuses. Read more under "Enjoy benefits"!



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How does the ASP work? ASP account, ASP loan, loan amount

You need to save 10% of your future home's estimated price on your ASP account, at least during eight quarters of a year (some 2 years). There is no maximum period for saving.

Your future home and government guarantee often suffice as collateral for an ASP loan. Normally you could be granted a loan for 70% of your home's value but, under the ASP scheme, you can benefit from the government guarantee as side collateral which enables granting a loan of up to 90% of your home's purchase price. For interest-subsidised ASP loans, no guarantee fees are charged for government guarantee.

The maximum amount of an interest-subsidised ASP loan is 180,000 euros in Helsinki, 145,000 euros in Espoo, Kauniainen and Vantaa and 115,000 euros elsewhere in Finland.

Opening an ASP account in an OP cooperative bank is worthwhile, because you will get the best benefits. In addition to the 1% deposit rate of your ASP account, we will pay a 4%* bonus interest rate for the first year of saving and thereafter for the five following years at the most – provided that the ASP terms and conditions are fulfilled and that you buy your home using the ASP scheme. What is more, your savings and the ASP loan will be counted as transactions which earn OP bonuses.

*For accounts opened before 1 October 2019, the bonus interest rate is at least 2–4%, depending on the OP cooperative bank.

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Example 1: Tina's studio

Tina (19 years) opened an ASP account in an OP Financial Group member cooperative bank in order to buy a studio worth some 160,000 euros in Helsinki* after a couple of years.

Once Tina has saved up to 10% of the estimated home purchase price, or 16,000 euros in this case, her home loan need is 144,000 euros.

  • ASP savings: 16,000 euros
  • Interest-subsidised ASP loan: 144,000 euros
  • The home's collateral value: 112,000 euros
  • Government guarantee: 32,000 euros
  • Side collateral is not required


*In Helsinki, the maximum amount of an interest-subsidised ASP loan is 180,000 euros

Example 2: Liz and John's three-room apartment

Liz (24 years) and John (31 years) begin ASP saving together, aiming at buying a 200,000 euro three-room apartment in a row house in Oulu**.

Once Liz and John have saved up to 10% of the estimated home purchase price, or 20,000 euros in this case, their home loan need is 180,000 euros.

  • ASP savings: 20,000 euros
  • Interest-subsidised ASP loan: 100,000 euros
  • ASP additional loan: 80,000 euros
  • The home's collateral value: 140,000 euros
  • Government guarantee: 40,000 euros
  • Side collateral is not required


**In Oulu, the maximum amount of an interest-subsidised ASP loan is 115,000 euros.

OP bonuses

As an owner-customer, you will earn OP bonuses for example from

  • loans
  • savings and investments
  • funds in accounts
  • purchases you have paid with OP-Visa credit
  • insurance premiums for home, family and motor vehicle policies.

OP bonuses are used for the bank’s service charges and insurance premiums.

Owner-customer benefits

  • As owner-customer, you enjoy a higher current account interest rate: 0.10% (normally 0.00%).
  • As our owner-customer, you can choose a long-term fixed interest rate for your new home loan throughout the loan's term, up to 25 years. This is how you can ensure that your interest charges for your home loan will remain unchanged throughout the loan term.
  • As owner-customer you can get a student loan with no service charge in case your loan application is filed at

The account is granted by the OP cooperative bank.