This is how the application process for a loan or consumer credit proceeds
- Fill in the application for consumer credit conveniently online
- Normally, you will get the consumer credit decision right away
- After you have accepted the consumer credit offer, you will get the money to your account.
You can apply for consumer credit with or without collateral – three consumer credit options
You can choose between three different types of loans the one that suits you best. If you want credit without collateral, you can choose Special Consumer Credit or Flexible Consumer Credit.
If you can provide collateral, you can apply for a secured Bank Loan. The interest rate for secured consumer credit will be lower than for an unsecured one.
The unsecured Special Consumer Credit is a one-off loan. In other words, you cannot use the repaid credit amount again, unlike in the case of credit cards, for example. You can apply for Special Consumer Credit worth 2,000–15,000 euros.
The unsecured Flexible Consumer Credit is a revolving credit. This means that after you have paid back some of the credit, you can draw down it again for your use without filling in a new application. You can apply for Flexible Consumer Credit worth 2,000–8,500 euros.
A secured Bank Loan is a one-off loan. You can get a secured Bank Loan starting from 8,000 euros, with no upper limit. Therefore, it is particularly suitable for financing large purchases. You can apply for a Bank Loan even if you are not an OP customer. You can also apply for it with another person.
The Bank Loan is our consumer credit with the lowest interest rate, thanks to the collateral. As collateral, you can use property such as a home that you own, a holiday home, investments or a forest estate. If you have made payments on your, say, home loan, you may have available collateral that you can use as collateral for your new loan, too.
OP cooperative banks’ owner-customers earn OP bonuses through secured bank loans.
It is a good idea to take out consumer credit from your own bank
Taking out consumer credit from your own bank is usually the smartest alternative in terms of overall costs. We don’t have hidden interests or other costs. You will always know the total cost of your consumer credit.
