Getting a loan online

Applying for a loan online is convenient and safe. Read more about the alternatives offered by OP and apply for a loan with or without collateral.

An online loan that meets your needs

When you need an online loan, always first contact your own bank for a loan offer. Whether you are planning to make minor renovations, buy a new car or to make other purchases, you can find a loan product that meets your needs in our selection of loans.

What kind of loan can I apply for?

You can apply for a loan from us online for various purposes. You can apply for a secured Bank Loan or unsecured Special Consumer Credit. For a regular need of credit, we offer unsecured Flexible Consumer Credit.

While online, you can also apply for a home loan or student loan as well as hire purchase financing for a car or home improvement financing directly from our partner retailers.

The most suitable option for you depends on your intended use of the loan, the amount of loan you need and whether you want a secured or unsecured loan. The loan options also differ from each other in terms of the rate of interest.

Take your time to read more about the options we provide and apply for a loan that suits you best, conveniently online whenever you need it.

Use the loan calculator to compare different loan options

Apply for a secured loan online – we’ll give you a loan offer

A secured loan can be a suitable solution for large purchases of over 10.000 euros. To apply for a secured loan online, you must have available collateral at your disposal.

In general, a residential property (such as an owner-occupied home, a buy-to-let home or a holiday home) is used as collateral. The home doesn’t need to be free from debt to be used as collateral for a loan. Other assets, such as forest, investments or savings, can also be used as collateral.

Apply for a secured Bank Loan

Apply for an unsecured loan online

An unsecured loan is suitable for financing purchases ranging from 2,000 to 15,000 euros. When applying for an unsecured loan, you don’t need collateral or guarantors, but you need to be a customer with OP.

If you have no collateral available, you can apply for unsecured Special Consumer Credit or Flexible Consumer Credit. You can apply for a loan online using OP's credentials in either the op.fi service or on OP-mobile.

How do I apply for a loan without collateral?

To be able to apply online, you’ll need to answer a few questions about your financial situation on our online service. Our questions aim at determining your monthly income and expenses, whether you live in an owner-occupied home and how many persons there are in your household. At the same time, we’ll also check your credit history.

If you apply for a loan without collateral, you’ll receive a loan decision within two banking days, at the latest. The money will be available on your account after you’ve accepted our loan offer.

Why is it a good idea to apply for loan online?

Applying for a loan online saves time and effort. You can apply for an unsecured loan conveniently online. If you plan to apply for a secured Bank Loan, the loan negotiations and signatures can take place electronically from start to finish, if you want.

In addition, you can conveniently compare different loan options online. You can use the loan calculator to determine how much loan without collateral you are eligible for and how long your loan term is if you pay low monthly instalments, for example. For a secured Bank Loan, you can compare the impacts of the loan amount, the loan term and the interest rate on your final loan sum.

It’s a good idea to apply for a loan online because:

Visiting a bank branch is not needed. You can apply for a loan online whenever it is convenient for you.
You can easily compare different loan products.
You can compare borrowing costs anytime.
The loan will adapt to your life situation, if needed.

Read more about all loan alternatives

Try out the loan calculator and apply for a loan that suits your needs

Example calculation for Bank Loan

A bank loan is one-off credit. If the 12-month Euribor is 4.091% (August 18, 2023) and the loan’s interest rate is a 3.9% margin plus the 12-month Euribor, the effective interest rate on a bank loan of 10,000 euros with a five-year repayment period will be 7.9%. A monthly servicing fee of 2.50 euros per month will be charged. An origination fee of 120 euros will be payable when the loan is drawn down. The estimated total amount payable will be 12,046.06 euros.

This calculation is based on the assumption that the entire loan has been drawn down, the loan interest rate, fees and charges are constant throughout the loan term, and the loan is repaid in equal instalments of 196.28 euros each month. The bank loan is granted by an OP cooperative bank.

Example calculation for Special Consumer Credit

Special Consumer Credit is a one-off loan: the effective interest rate for a 6,000-euro loan with a 5-year payback period would be 14.01 % if the credit interest rate were the 3-month Euribor + 7.95% (11.75 % in September 2023) and the loan servicing fee 6 euros per month.

The estimated total amount payable would be 8,249.19 euros. This calculation is based on the assumption that the loan is drawn down in a lump sum and the loan interest and charges and fees remain unchanged throughout the loan term. It also assumes that the loan is repaid in monthly instalments of 145 euros all the way to the final instalment.

The loan is granted by OP Retail Customers Plc

Example calculation for Flexible Consumer Credit

Flexible Consumer Credit is a revolving credit whose effective interest rate for 2,000 euros is 17.84 % when the loan interest rate is a 3-month Euribor + 7.95 percentage points (11.75 % in September 2022) and a six-euro loan servicing fee per month.

The estimated total amount payable would be 2,185.32 euros. This calculation is based on the assumption that the entire loan is drawn down and that the interest rate and charges and fees remain unchanged throughout the loan term. It is also assumed that the loan is repaid in the monthly minimum repayments of 250 euros, resulting in a loan period of 12 months.

The loan is granted by OP Retail Customers Plc

What kind of loan do you need?

Manage your personal finances in a smart way and apply for a loan with OP. Learn more about all OP loan options!

When is an unsecured loan the best option?

An unsecured loan is a convenient way of financing many kinds of purchases. Read more about why an unsecured loan could be the best option for you.

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