Home loan repayment

A home loan can be flexible if there are changes in your life. You can apply for a repayment holiday or change in your repayment plan – or pay off your loan early. This page gives answers to frequently asked questions on repaying a home loan. The guidelines also apply to secured bank loans.

My life situation has changed. Can I change the repayment of my loan?

You can apply for a change in your home loan’s repayment amount or the loan’s recurring due date. For that purpose, apply for a change to your repayment plan on the op.fi service. Submit the application for a change at least 15 days, but not earlier than 90 days, before the date on which you wish the change to take effect.

The change is subject to a service charge according to the list of charges and fees. See our charges and fees. The service charge can be paid with an OP cooperative bank owner-customer’s OP bonuses. If you don’t have OP bonuses, the service charge is charged in connection with the next instalment of the loan.

The due date of an ASP loan can’t be changed.

Go to the application form from below. Give the information requested in the application, and select the change of the due date or repayment amount according to your situation.

Can I get a repayment holiday?

You can apply for a repayment holiday for a home loan. For that purpose, apply for a change to your repayment plan on the op.fi service. Submit the application for a change at least 15 days, but not earlier than 90 days, before the date on which you wish the change to take effect.

The change is subject to a service charge according to the list of charges and fees. See our charges and fees. The service charge can be paid with an OP cooperative bank owner-customer’s OP bonuses. If you don’t have OP bonuses, the service charge is charged in connection with the next instalment of the loan.

Go to the application form from below. Give the information requested in the application and select repayment holiday.

I forgot to make a loan repayment. What should I do?

Ensure that your loan management account has sufficient funds for debiting. We will not debit the repayment amount from your account if your account has less than 50 euros. If the amount is not automatically debited from your account within two weekdays, please contact our customer service on chat.

How can I change the debit account of my loan?

You can change the debit account by sending a message at op.fi. Log into the op.fi service and inform in the message that you want to change the debit account of your loan and include the following information:

  • loan number
  • the number of the account from which the loan repayment amount can be debited in future.

Please note that if the loan has several borrowers, every borrower must send the bank an online message with the same content. Also learn more about the list of charges and fees before you make the change.

Help with payment difficulties

If you have difficulties paying a loan, contact your bank well in advance. Often the difficulties can be solved.

Can I pay off my home loan early?

You can repay your loan early by making extra repayments or prepayments. They are mainly free of charge; if your loan carries a fixed interest rate, the bank may charge for the extra repayment. Before you make the repayment, first determine which payment method you would like to use.

  • Extra repayment means an additional repayment at the amount of your choice. Extra repayment does not replace or move the upcoming payment amounts forward. They will be debited from your account on agreed due dates according to the repayment plan.
  • Prepayment means that you pay off your loan early, or you make payment in advance. You can prepay one or several upcoming instalments. You cannot pay interest in advance, but it will be debited from your account on the agree due date.

This is how you make an extra repayment or prepayment (op.fi service):

  1. Log into the op.fi service. In your loan affairs, select the loan you want to amortise and keep the loan number.
  2. Go to your Päivittäiset raha-asiat (Daily banking) in the Rahat section. Make a new payment and enter the loan number in the field where you are asked for the payee’s account number. Select the repayment method.
  3. Fill in the details and confirm the payment. The debit amount in your account and the credit amount in your loan can be seen on the following weekday at the latest.

How do I pay off the remaining balance on my loan?

You can pay off your home loan or bank loan in full in one go. Log into the op.fi service and start paying off the remaining balance on the loan by sending us a message at op.fi or using our chat. Please state the following information in the message:

  • the number of the loan to be paid off in full
  • the number of the account from which the remaining balance will be paid off.

Your bank will contact you to ensure that all matters related to the payoff of the remaining balance on your loan are dealt with. If your loan carries a fixed interest rate, the bank may charge expenses for early repayment.

When paying off the loan, we may ask you to fill in the “Clarification of the source or intended use of funds” form. We request evidence for the source of funds because banks are required by law to know their customers. We'll send the form (with instructions on filling it in) in a separate message.

 

The home loan is granted by an OP cooperative bank.