OP Tailored Consumer Credit

One-off loan of 2 000–30 000 euros without collateral

Personal interest rate

The loan interest rate consists of a margin of 3,5–10,95 % + a 3-month Euribor. Apply for a loan decision and you’ll see your personal interest rate. 

Online credit decision

Fill in an application online and you’ll get a loan decision that is valid for 30 days. The application does not require you to draw down the loan. 

No hidden costs

You only pay the interest and the monthly 6 € loan servicing fee – there are no other loan costs. OP Tailored Consumer Credit comes without any establishment fee.

Unsecured loan of 2 000–30 000 euros

OP Tailored Consumer Credit is unsecured and drawn down at once. It provides flexibility for financing unexpected situations in daily life or bigger purchases. You’ll get the decision once you answer a few questions. The purpose of use of the loan has no influence on the decision, meaning that you don’t need to specify the purpose when you apply for OP Tailored Consumer Credit. The loan decision will show you the amount of the loan that can be granted to you. In addition, the decision will show you your personal interest rate. The application does not require you to draw down the loan.

Car, renovation or hobby? Life situations and loan needs change. With OP Tailored Consumer Credit, you can finance various acquisitions.

Why does it pay to take out an unsecured loan from your own bank?

If you need financing for a bigger one-off purchase or unexpected situations in daily life, it’s advisable to apply for financing from your own bank.  When you apply for an unsecured loan from your own bank, we can recommend you a loan amount suitable to you that takes account of your repayment capacity and the overall situation of your finances. Moreover, using your own bank as a single service provider makes your banking smoother and helps you to have a clear overall picture of your finances.

How do I apply for OP Tailored Consumer Credit?

You can apply for OP Tailored Consumer Credit conveniently in the op.fi service. On the loan application form, we’ll determine your financial situation with a few questions. You’ll see your personal interest rate in the loan decision. In addition, the loan decision will state the loan amount matching with your repayment capacity. The decision is valid for 30 days and applying for the decision does not require you to draw down the loan. 

Our loan decision is always personal. In addition to OP’s customer data, information you have given in the application influences the decision. We’ll also check your credit information. We do this to ensure that you are granted a suitable loan amount that you can pay back without difficulty. 

After you have received our loan decision, you can choose a loan amount and repayment amount suitable to you. If you like, you can also choose a grace month per year, in which case you don’t have to repay the principal and pay interest on the loan. 

In order to make OP Tailored Consumer Credit available to you, you need to finalise the loan agreement. After you have signed the agreement, you’ll receive the money in your account. If you apply for the loan after 23.00, the money will be transferred to your account on the following morning at 7.00.

Who can apply for OP Tailored Consumer Credit?

OP Tailored Consumer Credit is only granted to OP’s customers. You can apply for the loan if: 

  • You are at least 23 years of age and an OP cooperative bank customer 
  • You receive regular income in terms of pay or pension 
  • You can manage your current payment obligations on time 
  • You have managed your personal finances well and have no payment default entries 
  • You have a permanent residence in Finland 

Changes to OP Tailored Consumer Credit can be made flexibly

You can repay OP Tailored Consumer Credit faster than agreed at any point of the loan term. It’s also possible to pay off the loan in a lump sum, free of charge. You can also request changes to the instalment and due date of your loan.

Moreover, you can choose a grace month per year for OP Tailored Consumer Credit. You can determine the loan one-month grace period when you apply for the loan decision or later during the loan term. During the grace month, you don’t need to repay your loan and related interest. 

You can view your loan information on op.fi and OP-mobile. If you want to change your loan repayment plan, you must contact our Customer Service to agree on a new repayment plan.

Call our Customer Service

Mon‒Fri 8.00‒16.30

The cost of calls: The charge is the same as for normal local calls or domestic mobile call charge as specified in your telephone service provider's price list.

Costs of OP Tailored Consumer Credit:

The loan costs of OP Tailored Consumer Credit consist of interest and a loan servicing fee. The size of a monthly repayment depends on the loan amount and loan term. You can choose the 1st or 15h day of the month as the due date. The loan terminates when the last instalment has been paid. 

Costs of OP Tailored Consumer Credit:

  • Personal interest rate, a 3,5–10,95 % margin + a 3-month Euribor
  • Loan servicing fee 6 euros per month

After applying for a loan, you can order an e-invoice on OP's digital services. For instructions on how to order an e-invoice, see the bottom of the page.

Example calculation for a loan of 10 000 euros:

Loan with a personal margin of 3,5 per cent + a 3-month Euribor (3,958 %, 11.12.2023)

OP Tailored Consumer Credit is a one-off loan. Its effective interest rate for a loan of 10 000 euros with a 5-year payback period would be 8,75 % if the personal margin were 3,5 % and the loan servicing fee 6 euros per month.

The estimated total amount payable would be 12 284,90 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 further assumes that the loan is repaid in monthly instalments of 210 euros up to and including the final instalment.

Loan with a personal margin of 6,5 per cent + a 3-month Euribor (3,958 %, 11.12.2023)

OP Tailored Consumer Credit is a one-off loan. Its effective interest rate for a loan of 10 000 euros with a 5-year payback period would be 11,85 % if the personal margin were 6,5 % and the loan servicing fee 6 euros per month.

The estimated total amount payable would be 13 105,66 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 further assumes that the loan is repaid in monthly instalments of 225 euros up to and including the final instalment.

Loan with a personal margin of 10,95 per cent + a 3-month Euribor (3,958 %, 11.12.2023)

OP Tailored Consumer Credit is a one-off loan. Its effective interest rate for a loan of 10 000 euros with a 5-year payback period would be 16,58 % if the personal margin were 10,95 % and the loan servicing fee 6 euros per month.

The estimated total amount payable would be 14 314,32 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 further assumes that the loan is repaid in monthly instalments of 250 euros up to and including the final instalment.

The loan is granted by OP Retail Customers Plc

  • Submit the credit application in the op.fi service. You’ll get a personal loan decision after completing an application.
  • You are eligible to receive OP Tailored Consumer Credit if you are OP’s customer, 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 OP Tailored Consumer Credit is an unsecured credit, you don’t need any collateral or guarantors.
  • You are annually entitled to one grace month on your credit. During the grace month, you don’t need to repay the credit, or pay interest or the loan servicing fee. You’ll pay interest and costs for the grace month only in connection with the next monthly repayment. 
  • The grace month is the same calendar month every year. The change takes effect in the next month's billing. An already-created bill can’t be changed. 
  • You can make changes to the repayment amount and due date of your credit or make an extra repayment.  
  • It is also possible to pay off the credit in a lump sum free of charge.

You can order an e-invoice for OP Tailored Consumer Credit in the op.fi service or on OP-mobile. Enter the following information in your order: 

  • Payee: OP Retail Customers plc
  • E-invoice to be ordered: OP Retail Customers plc OP Tailored Consumer Credit invoice
  • Reference number: Your personal reference number that you can find in your loan repayment plan in the op.fi service 

Order an e-invoice on OP-mobile, under Payments and e-invoices 

Order an e-invoice on op.fi

Interest on the OP Tailored Consumer Credit remains unchanged throughout the loan period and is determined by the date when it has been applied.

The OP Tailored Consumer Credit applied before 27 April 2023 has a personal fixed interest rate. The OP Tailored Consumer Credit applied since 27 April 2023 has a floating rate, consisting of a personal margin + a 3-month Euribor. 

The interest rate for you loan can be found in the Loans section on OP mobile or the op.fi service.