Flexible Consumer Credit

Make you holiday dreams come true – why not every year.

Suitable credit amount

You can apply for Flexible Consumer Credit worth 2,000–8,500 euros.

No collateral needed

You don’t need any guarantors or collateral for the credit.

You are annually entitled to one grace month for your credit

During the grace month, you don’t need to repay your credit and related interest.

Flexibility to renovation and moving home

Moving soon? Renovation too? Flexible Consumer Credit is a well-suited solution to you to make your dreams come true or balance your personal finances.

Flexible Consumer Credit is a versatile consumer loan that is helpful if you incur smaller and bigger expenses related to renovation or moving home, whether it is a matter of removal boxes or an extensive kitchen remodelling. When financing is in order, you can avoid one source of stress.

Apply for Flexible Consumer Credit for any purchases without collateral. If you are not yet our customer or do not have user identifiers for OP eServices, book an appointment in the nearest branch.

Fill in a credit application in good time. An approved application is valid for three months without any separate charges. You can draw down the credit just when it suits you best.

Only one credit application is needed

You can apply for credit conveniently online. Fill in an application and the money will go to your account when it suits you best – you do not need to visit a bank branch.

Flexible Consumer Credit is flexible also after you have drawn down one loan: after you have paid back some of the credit, you can draw it down again for your use without filling in a new application. So Flexible Consumer Credit is a continuous financing option for everyday and leisure needs. You can transfer credit to your account when you need it and repay it as you would with a credit card.

Cost of the credit

Flexible Consumer Credit is subject to a monthly loan servicing fee of 6 euros (covers the credit establishment fee, drawdowns to your account and invoicing). The loan servicing fee is charged each month even if the credit is not in active use. The credit interest rate is the 3-month Euribor + 7.95 percentage points (7,4 % 1/21). You make a monthly repayment of an agreed amount but at least 2.5% of the credit limit and a minimum of 50 euros. You can choose 1st, 8th, 16th or 24th of the month as the due date.

After you have paid back some of the credit, you can re-draw it for your use on OP eServices.

With Flexible Consumer Credit, finance is readily available to you just when you need it. Convenient, isn't it?

Johanna Ilonen Product Expert, OP
Applying for credit, and collateral Granting a credit, drawing down a credit

Fill in the application on OP eServices, call OP telephone service at 010 253 1333 or visit a member cooperative bank branch. You will hear the decision concerning your application at once or within two banking days, at the latest. An approved application is valid for three months without any separate charges. After you have accepted the offer, the credit is readily available to you on OP eServices. Your first drawdown must be at least 1,000 euros, after which you can draw down smaller amounts too.

You are eligible to receive Flexible Consumer Credit if you are a long-standing customer using a OP member cooperative bank as your main bank, are at least 23 years of age, have regular income in terms of pay or pension, have sufficient financial standing, have managed your personal finances well and have a permanent residence in Finland. Receiving the credit always requires approval by OP Retail Customers plc that extends the credit. OP Retail Customers plc is a credit institution wholly owned by OP Financial Group.

Because Flexible Consumer Credit is an unsecured credit, you do not need any collateral or guarantor.

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You are annually entitled to a one-month grace period for your credit when you do not need to repay your credit and related interest. The grace period is the same month every year. The change takes effect in the next month's billing. The already-created bill may not be changed.

Extra repayment

You can amortise your loan in addition to your normal monthly instalment. This extra repayment does not defer the next instalment or payment date. The extra repayment is not subject to a charge.

To make an extra repayment, you need the number of your loan which you can find in Loans. After that, go to "New payment" under Payment and enter your loan's number in the "Payee's account or IBAN" field. Then proceed as instructed. The amount of your extra repayment is debited to your account on the same day. 

OP cooperative bank owner-customers earn OP bonuses from:

  • Funds in savings accounts

  • Home loans, student loans and secured bank loans

  • Mutual funds and unit-linked insurance assets

  • Insurance premiums paid, such as home and motor vehicle insurance and continuous travel insurance

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

The loan is granted by the OP Retail Customers plc.
Flexible Consumer Credit and Special Consumer Credit
How to make changes to your loan.