Ryhmä ihmisiä pitää käsiä yhdessä.

Group yield

Let’s make money on each other’s money!

Group Interest Account is the first collective account in Finland and a new way of saving money collectively.

  • Saving into Group Interest Account covers a certain period during which each account holder saves money into his own Group Interest Account.
  • Even small amounts will generate a big sum. The larger the interest amount paid on the account, the larger the total deposited amounts.
  • At op.fi and on OP-mobile, you can view how many depositors are involved, how much money has been deposited and how the interest develops.
  • The deposit interest rate is determined by each lot.
  • It also pays to follow how long the distance is to the next interest level and to suggest friends making a deposit.
  • The contribution period is followed by a fixed-term deposit period after which the deposited funds with interest will be paid into your current account.

Money deposited into the Group Interest Account generates OP bonuses to you. Learn more under the section ‘Owner-customer benefits and OP bonuses through banking services’!

One hundred euros is enough to get you started, but you can make additional deposits throughout the contribution period. It’s exciting to watch how high the interest rate rises for the group! 
Kati Vauhkonen‚ Service Advisor, OP Helsinki

The annual interest rate on a given Group Interest Account lot is confirmed for a fixed period at the latest on the banking day following the last day of the contribution period. The interest rate depends on the total amount of deposits received.

An interest rate is also determined for each lot for the contribution period. The funds may be withdrawn when the fixed deposit period ends.

The principal and the deposit interest fall within the scope of deposit insurance up to the amount prescribed by law. OP Financial Group member banks are considered a single bank from the perspective of deposit guarantee.

The General Terms and Conditions for Accounts for Private Customers apply to the Group Interest Account.

OP bonuses

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

  • loans
  • savings and investments
  • purchases you have paid with credit
  • insurance premiums for home, family and motor vehicle policies.

From 1 November 2020, OP bonuses will accrue from:

  • home loans, secured bank loans, student loans
  • savings and investment accounts
  • mutual fund units and unit-linked insurance
  • non-life insurance bills

The change on 1 November 2020 means that no OP bonuses will accrue from:

  • deposits in current accounts
  • unsecured consumer loans (Flexible Consumer Credit, Special Consumer Credit, One-off Credit and Overdraft Facility)
  • OP hire purchase
  • Purchases paid using OP Visa as a credit card, the balance of credit with interest of OP-Visa and OP-Mastercard cards

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