What kind of home improvement loan do you need?
Choose between different options for reasonably financing small home improvements. Home improvement loans come with different features, maximum loan amounts and collateral. Compare loans, apply online and start your home improvement project.
If you can provide a collateral or guarantor when applying for a loan, your loan may exceed 15,000 euros and you will get the lowest possible interest rate. You can also apply for a home improvement loan without collateral if your loan amount remains below 15,000 euros.
You can also finance your home improvement with a flexible unsecured limit from which you can withdraw money as needed.
Sometimes, a credit card may be a smart way of financing home improvements.
A home loan is the best way to finance renovations
If you intend to renovate your house, the best way of financing it is a home loan. Its interests are partly tax-deductible.
A renovation means a more extensive repair, not just replacing surfaces. A renovation refers to work such as replacing the house’s heating, plumbing, ventilation and electric systems.
A home improvement loan is an investment in your home
Are you planning home improvements, building a patio or replacing your kitchen cabinets?
Avoid unexpected repair costs or serious damage by making repairs in time. A home improvement is an investment in your home. It will also increase your living comfort. Well-made improvements add value to your home. Remember that if you use home improvement professionals, you can get part of the repair costs back by claiming tax credit for household expenses.
Provide a collateral – get the lowest interest rate for your loan
We recommend that you check whether you have assets that can be used as collateral, because a secured bank loan has the lowest interest rate. Eligible collateral include, for example, a home that you own if it is debt-free or if you have already repaid part of your home loan. Forest, investments and other assets may also be eligible as loan collateral.
You can get a secured home improvement loan starting from 8,000 euros, with no upper limit. In other words, you can apply for it even for a larger home improvement project. You can apply for a bank loan even if you are not an OP customer.
Get a loan of up to 15,000 euros without collateral
If you want an unsecured loan, apply for Special Consumer Credit. File a home improvement loan application online; as a rule, you will get a loan decision right away. You can get a loan of up to 15,000 euros without collateral. Only OP customers can apply for a loan without collateral.
Apply for an unsecured limit if your budget is still unclear
An unsecured limit, or Flexible Consumer Credit, is a good loan option if you don’t know how much money you will need for the home improvement. You can draw down credit from it whenever needed. You do not need to provide any collateral. You can get an unsecured limit of 2,000–8,500 euros.
When you make a repayment on the credit, a corresponding amount is released for future use. Therefore, it is ideal for home improvement projects that have an unclear timetable or that will be carried out in several stages. Only OP customers can apply for an unsecured limit.
Why take out a home improvement loan?
- You can spread the home improvement costs over a longer period of time.
- Spreading the costs will make it easier to plan your finances over a longer term.
- Home improvement is an investment that frees up capital for other uses.
- Instead of using your savings for a home improvement, you can, for example, invest them to receive a better interest yield.
- Home improvement adds value to your home and is an investment for the future.
Apply for a home improvement loan online – you will get the loan decision quickly
Apply for a home improvement loan online. You will get the loan decision quickly. As a rule, you will get a decision on an unsecured loan right away. For a secured loan, you will get the loan decision within 1–3 days.
You will earn OP bonuses through a home improvement loan
As an owner-customer, you will always earn OP bonuses through a loan with us. You can use bonuses to pay, for example, your home insurance premiums. For example, if you have a loan of 10,000 euros with us, you will be entitled to OP bonuses worth 25 euros per year.