OP Tililuotto

OP Overdraft Facility

Flexible finance for larger purchases available to any bank’s customers

Conveniently on a single bill

All online purchases you have made with OP Overdraft Facility during one month will be charged on a single bill.

A 30-day interest-free billing period

Thanks to the long payment term, you can decide before you make a payment whether you keep the product you have ordered.

Pay easily and smoothly in instalments

You can repay your credit at your own pace in a maximum of 92 instalments.

For easier payment with OP Overdraft Facility

OP Overdraft Facility is a payment method for larger online purchases in daily life. It is applied for before any purchases are made and is intended for any bank’s customers.

A flexible way to pay for online purchases

OP Overdraft Facility enables you to make purchases of no more than 7,500 euros. All purchases you have made during one month are shown on the same bill.

You can pay off the purchases of the month on the next bill or repay them in monthly instalments. If you like, you can make extra repayments of pay off the credit anytime without any extra charges. A credit limit enables you to keep your spending within the limits of your choice.

You’ll get a bill once a month that shows all transactions for the past month. You can easily change the bill to an e-invoice in your own online bank.

How to start using OP Overdraft Facility?

Apply for OP Overdraft Facility in advance and you can use it to make payments in all webshops where it is accepted as a payment method.

OP Tililuotto vaiheet

You can apply for OP Overdraft Facility if you are at least 23 years old and you have user identifiers of a Finnish bank.

OP Overdraft Facility is a responsible payment method

Credit decisions are based on an overall appraisal of the customer’s repayment capacity. To make such an overall appraisal, we will ask you, for example, about employment details and income and debt-servicing costs. We will also check your credit history with the credit data file.

How much does it cost to use OP Overdraft Facility?

OP Overdraft Facility offers a 30-day interest-free billing period for every purchase and the opportunity pay in instalments. The monthly credit instalment includes a billing fee of 5.00 euros and the nominal interest rate for payments in instalments is OP-prime + 9.50%.* 

The minimum monthly instalment is 50 euros. However, you will not pay any charges if OP Overdraft Facility has no outstanding balance. You can anytime make extra repayments or pay off the credit without extra charges.

* OP Overdraft Facility is a revolving credit facility. Its effective interest rate for a 5,000-euro credit is 14.57 % – with an interest rate of OP-prime + 9.50% (12.20 % in May 2023), an establishment fee of 0 euro and a billing fee of 5 euros per month – and the estimated total amount payable is 8,341.38 euros. The calculation is based on the assumption that the entire credit is used, the credit interest rate, fees and charges remain constant through the credit term, and the credit is repaid in instalments of 85 euros with a credit term of 99 months. The creditor is OP Corporate Bank plc, Gebhardinaukio 1, 00510 Helsinki.

I have made purchases with OP Overdraft Facility – where can I see my credit details?

If you have used OP Overdraft Facility to make purchases, you’ll see your credit details on OP's online financing service (in Finnish). There you can see, for example, your credit limit, available credit facility and the status of your bills. You can log into the service with the personal online banking user identifiers issued by any Finnish bank or Mobile ID.

Processing purchase returns

When you return your purchases according to the merchant’s instructions, the refund made by the merchant is automatically recorded in your OP Overdraft Facility. If you have return purchases, you can check the real-time outstanding balance on OP's online financing service (in Finnish).

For more information, email to optililuotto@op.fi