Ihminen kahvilassa

Special Consumer Credit

Credit for making your dreams come true.

Get a credit decision quickly online

Fill in the online application and get a credit decision straight away or within two banking days at the latest. You’ll get the money to your account straight away after accepting the credit offer.

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.

Apply for credit of up to 15,000 euros without collateral

Special Consumer Credit is an unsecured loan drawn down at once. It’s ideal for financing both small and large purchases. You can apply for Special Consumer Credit from 2,000 euros up to 15,000 euros. You don’t need to provide any collateral.

Fill in a loan application online. You will get the loan decision straight away or within two banking days, at the latest. The money will be transferred to your account immediately once you have accepted the credit offer.

If you are not yet our customer or do not have user identifiers for OP eServices, book an appointment at the nearest OP branch.

Who can get a loan? What matters affect the granting of a loan?

You can apply for Special Consumer Credit if:

  • you are 23–74 years old and use OP cooperative bank as your main bank
  • you have regular income in terms of pay or pension
  • you have sufficient repayment capacity
  • you have managed your personal finances well, and
  • you have a permanent residence in Finland.

Special Consumer Credit is flexible – you can pay it off in one go

You can anytime repay a larger amount than the agreed monthly repayment, or pay off the whole loan amount without any extra charges. In the application process, you agree on the size and schedule of the repayments for paying back your loan. However, you can easily change your repayment plan on op.fi (in Finnish or Swedish) without any extra charges. If your situation changes, you can change the amount of each repayment and the due date and set a grace month.

Grace month once a year

You are annually entitled to one grace month on your credit. During the grace month, you don’t need to repay your credit and related interest. The grace month is the same calendar month every year. The change takes effect in the next month's billing. The already-created bill may not be changed.

Joustoluotto on monipuolinen kulutusluotto, joka sopii pieniin ja suuriin elämän hankintoihin muuttolaatikoista keittiöremonttiin.
Purchases for home with flexible payment
Moving home and fixing up a new home in the offing? An unsecured, flexible credit is suitable for not only small but also bigger spending.
Flexible Consumer Credit and Special Consumer Credit
How to make changes to your loan.
Applying for credit, and collateral Granting a credit, drawing down a credit

Fill in the credit 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. After you have accepted the offer, the credit is readily available to you on OP eServices.

You are eligible to receive Special Consumer Credit if you are a long-standing customer using a OP member cooperative bank as your main bank, are 23 to 74 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 Card Company Plc that extends the credit. OP Card Company Plc is a credit institution wholly owned by OP Financial Group.

Collateral

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

Täsmäluottoa voit hakea kätevästi verkossa. Täsmäluottoa voit hakea kätevästi verkossa.
Credit repayment monthly repayment, repayment date

The monthly repayment depends on the loan amount and loan term. You can choose 1st, 8th, 16th or 24th of the month as the due date.

Credit terminates when the last instalment has been paid.

Cost of the credit drawdown fee, interest, effective interest, total cost

Special Consumer Credit is subject to a monthly loan servicing fee of 6 euros (covers the credit establishment fee and invoicing). The credit interest rate is the 3-month Euribor + 7.95 percentage points (7,6% 9/19).

Special Consumer Credit is a one-off loan whose whose effective annual interest rate for a 10,000 credit with a 5-year repayment period is 9,22% when the credit interest rate is the 3-month Euribor + 3 percentage points (7,6% 9/19) and the loan servicing fee is 6 euros per month. The estimated total amount payable is 12 410,77 euros. The calculation is based on the assumption that the entire credit has been drawn down, the credit interest rate, fees and charges are constant through the credit period, and the credit is repaid in the minimum repayments of 206,9 euros. The credit is extended by OP Card Company Plc.

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 the Loans section. After that, go to "New payment" under the Daily banking services section 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. 

Read the terms and conditions of Special Consumer Credit.

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.

The loan is granted by the OP Card Company Plc.