Protect your personal finances against changes

Your life and the world around you can always change.

Borrowers can and should prepare for risks

  • Prepare for personal risks

    Repaying your loan can become difficult should you experience unexpected changes, such as illness, unemployment or, say, death of your spouse.

  • Protect yourself against external risks

    Interest rates have been exceptionally low for a long time. If they rise, your monthly home loan repayments can grow by up to hundreds of euros. An interest rate cap hedges against rising interest rates.

Personal protection against unexpected illness

Illness can change your day-to-day life unexpectedly and prevent working. Living on Kela’s daily allowance can mean that your income will drop as much as to a half. Critical illness insurance covers your finances in case of illness. The policy’s maximum compensation is 100,000 euros, which is paid tax-free in a lump sum.

You may spend the compensation paid by Critical illness insurance in any way you choose. For example, you can repay loans or use it on possible medical treatment expenses.

Read more about Critical illness insurance


Covering loan repayments

As a borrower, you should take a moment to think about what will happen to your personal finances if your life changes suddenly. Payment Protection Insurance covers your monthly loan repayments when something unexpected happens.

With Payment Protection Insurance, you can prepare for disability, unemployment or critical illness. Payment Protection Insurance also protects guarantors or family in case of the borrower’s sudden death. Payment Protection Insurance is available as an individual and joint cover.

Read more about Payment Protection Insurance


Interest rate cap reins in your monthly loan repayments

By setting an interest rate cap on your loan you will know exactly how high your monthly repayment amount can rise. The best time to get the interest rate cap is now, before interest rates rise, because the cap’s price depends on the interest rate level at the time the agreement is made.

You can set the interest rate cap at, say, 1.5% for 5, 7, 10 or 14 years. The interest rate cap is available to home loans as well as consumer credit.

Many factors in the economy affect loan interest rates. Finns have enjoyed low interest rates for a historically long time, but you should not get accustomed to them. Instead, you should test your repayment capacity at different interest rates. Would your personal finances withstand a rise in interest rates to, for example, 3% or 4%? Use our loan calculator to test the impact of interest rates on your loan.

Read more about Interest rate cap

It pays off to save while repaying your loan

When you put money regularly aside while repaying your loan, you can be prepared for the future and have some leeway for unexpected costs or bigger purchases. At the same time, you can increase your wealth. When it comes to saving, it is important that you actually start and do it regularly. Monthly investing in a fund is one easy and efficient way to reach your own goals for saving.

Read more about investing in funds


The home loan and the interest rate cap are granted by an OP cooperative bank.
Payment Protection Insurance is granted by OP Life Assurance Company Ltd and/or Pohjola Insurance Ltd.
Critical illness insurance is granted by OP Life Assurance Company Ltd and Pohjola Insurance Ltd.
The funds are managed by OP Fund Management Company Ltd.