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Student loan calculator – Calculate your student loan

What should you understand about calculating your student loan, and how does the student loan calculator work? Read on to learn how the costs of student loan are formed.

Calculate a suitable loan for you

How much do you need to borrow?
Monthly repayment
-
Loan term
Planned loan term. The maximum recommended home loan term is 20 years. You can discuss with the bank if the 20-year loan term does not suit your needs.
Interest rate
The interest rate given automatically by the calculator is the current default interest on the home loan (12-month Euribor + customer-specific mark-up). You can change the interest rate and try how changes in interest rates affect the loan.
Try out how a considerably higher rate affects the monthly repayment of your loan.

Home loan


Monthly repayment
€/mo
Payment protection insurance premium
€/mo
Loan amount: €
Scope of payment protection insurance: €
Insurance premium: €/mo
€/day
A maximum of 300,000 euros can be insured on the loan, monthly compensation is a maximum of 2,500 euros and the maximum policy term is 30 years. If you have a larger loan, your bank will help you choose a suitable solution for protection.
Total monthly repayment of protected loan:
€/mo
Failed to calculate payment protection insurance. Try again.
You can earn OP bonuses during the first year
+ €
OP bonuses are earned by all Group member bank owner-customers with transactions entitling to bonuses. At Helsinki OP Bank, you are given OP bonuses when your banking and/or insurance transactions come up to at least €5,000 per month. Transactions mean, for example, the total amount of loans, savings, purchases paid using OP-Visa as credit card. They also include insurance premiums for Pohjola’s home, family and motor vehicle policies. OP bonuses are used to pay for banking services such as loan service charges. OP bonuses are also used for Pohjola home, family and motor vehicle policy premiums and OP-Kiinteistökeskus real estate commissions. OP bonuses have been calculated for the first year on the bonus scheme rules currently in effect. The calculation has taken account of your monthly repayments for the first year.
Repayment method:Equal payment
Equal payment. The monthly repayment amount remains constant but the loan term may change when interest rates change.
Effective interest rate: %
The effective interest rate includes the full costs of the loan converted to the annual interest rate. Our loan offer based on your loan application provides detailed information on interest on your loan and other terms and conditions. The home loan costs consist of the origination fee accounting for YLL_DATA_INIT_PROVISION_PERCENTAGE % of the loan amount (minimum of YLL_DATA_INIT_COST_MIN euros) and a service fee of YLL_DATA_EXPENSES_MONTHLY euros. The costs of the secured consumer loan (bank loan) consist of an origination fee of 120 euros and a service fee of 2.50 euros.
Estimated total cost: €
Indicates how much it would cost to repay the loan, including charges and interest amounts, based on the information you have provided.
How much do you need to borrow?
What would be a suitable loan term?
Last repayment
We recommend you
Other options
Hire purchase SECURED

The loan is not amortised quickly enough. Change the loan amount or loan term.
Monthly repayment
€
Interest rate
%
Total cost
€
Last repayment: €
The loan is secured against the car you have bought
  • The loan is secured against the car you have bought
  • Suitable for all banks' customers
  • Preliminary financing decision at once
  • Suitable for all banks' customers
  • Preliminary financing decision at once
Loan documentation fee €YLL_DATA_INIT_COST_AMOUNT and handling fee €YLL_DATA_EXPENSES_MONTHLY/repayment.
  • Interest rate: %
  • Effective interest rate: %
  • Number of repayments: repayments
The effective interest rate includes the full costs of the loan converted to the annual interest rate. Our loan offer based on your loan application provides detailed information on interest on your loan and other terms and conditions. The home loan costs consist of the origination fee accounting for YLL_DATA_INIT_PROVISION_PERCENTAGE % of the loan amount (minimum of YLL_DATA_INIT_COST_MIN euros) and a service fee of YLL_DATA_EXPENSES_MONTHLY euros. The costs of the secured consumer loan (bank loan) consist of an origination fee of 120 euros and a service fee of 2.50 euros.
The annual percentage rate of charge (APR) contains all costs of the credit (total interest rate and loan servicing fee of €6/month). The interest rate applicable to your loan will be specified when making a decision of your loan.
Read more about Hire purchase ›
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OP Tailored Consumer Credit UNSECURED

The loan is not amortised quickly enough. Change the loan amount or loan term.
Monthly repayment
€
Interest rate
% *
Total cost
€
Customer-specific interest rate starting from a 3,5 % margin + 3-month Euribor.
  • Customer-specific interest rate starting from a 3,5 % margin + 3-month Euribor.
  • Unsecured one-off credit for which you can apply to the amount of €2,000–30,000.
  • Credit decision issued immediately or within two banking days.
  • Unsecured one-off credit for which you can apply to the amount of €2,000–30,000.
  • Credit decision issued immediately or within two banking days.
The credit servicing fee €6/month covers the credit establishment fee, credit drawdown to your account and invoicing.
  • Interest rate: % *
  • *The calculator uses 6.95% + a 3-month Euribor as a default margin. A more precise margin of your loan will be indicated in the application phase.
  • Reference interest rate:
  • Effective interest rate: %
  • Number of repayments: repayments
The effective interest rate includes the full costs of the loan converted to the annual interest rate. Our loan offer based on your loan application provides detailed information on interest on your loan and other terms and conditions. The home loan costs consist of the origination fee accounting for YLL_DATA_INIT_PROVISION_PERCENTAGE % of the loan amount (minimum of YLL_DATA_INIT_COST_MIN euros) and a service fee of YLL_DATA_EXPENSES_MONTHLY euros. The costs of the secured consumer loan (bank loan) consist of an origination fee of 120 euros and a service fee of 2.50 euros.
The annual percentage rate of charge (APR) contains all costs of the credit (total interest rate and loan servicing fee of €6/month). The interest rate applicable to your loan will be specified when making a decision of your loan.
Read more about Tailored Consumer Credit ›
Show additional information
Hide additional information
Bank Loan SECURED

The loan is not amortised quickly enough. Change the loan amount or loan term.
Monthly repayment
€
Interest rate
%
Total cost
€
You need collateral for the loan, such as an owner-occupied home.
  • You need collateral for the loan, such as an owner-occupied home.
  • Suitable for one-off purchases of over €10,000
  • We can customise a loan repayment plan for you
  • Suitable for one-off purchases of over €10,000
  • We can customise a loan repayment plan for you
Loan drawdown and any possible partial drawdowns are subject to a charge based on the bank's service charges and fees.
  • Interest rate: %
  • Reference interest rate:
  • Effective interest rate: %
  • Number of repayments: repayments
The effective interest rate includes the full costs of the loan converted to the annual interest rate. Our loan offer based on your loan application provides detailed information on interest on your loan and other terms and conditions. The home loan costs consist of the origination fee accounting for YLL_DATA_INIT_PROVISION_PERCENTAGE % of the loan amount (minimum of YLL_DATA_INIT_COST_MIN euros) and a service fee of YLL_DATA_EXPENSES_MONTHLY euros. The costs of the secured consumer loan (bank loan) consist of an origination fee of 120 euros and a service fee of 2.50 euros.
The annual percentage rate of charge (APR) contains all costs of the credit (total interest rate and loan servicing fee of €6/month). The interest rate applicable to your loan will be specified when making a decision of your loan.
Read more about Bank Loan ›
Show additional information
Hide additional information
How much do you need to borrow?
What would be a suitable monthly repayment?
We recommend you
Other options
OP Tailored Consumer Credit UNSECURED

The loan is not amortised quickly enough. Change the loan amount or monthly repayment.
Loan term
Interest rate
% *
Total cost
€
Customer-specific interest rate starting from a 3,5 % margin + 3-month Euribor.
  • Customer-specific interest rate starting from a 3,5 % margin + 3-month Euribor.
  • Unsecured one-off credit for which you can apply to the amount of €2,000–30,000.
  • Credit decision issued immediately or within two banking days.
  • Unsecured one-off credit for which you can apply to the amount of €2,000–30,000.
  • Credit decision issued immediately or within two banking days.
The credit servicing fee €6/month covers the credit establishment fee, credit drawdown to your account and invoicing.
  • Interest rate: %*
  • *The calculator uses 6.95% + a 3-month Euribor as a default margin. A more precise margin of your loan will be indicated in the application phase.
  • Reference interest rate:
  • Effective interest rate: %
  • Number of repayments: repayments
The effective interest rate includes the full costs of the loan converted to the annual interest rate. Our loan offer based on your loan application provides detailed information on interest on your loan and other terms and conditions. The home loan costs consist of the origination fee accounting for YLL_DATA_INIT_PROVISION_PERCENTAGE % of the loan amount (minimum of YLL_DATA_INIT_COST_MIN euros) and a service fee of YLL_DATA_EXPENSES_MONTHLY euros. The costs of the secured consumer loan (bank loan) consist of an origination fee of 120 euros and a service fee of 2.50 euros.
The annual percentage rate of charge (APR) contains all costs of the credit (total interest rate and loan servicing fee of €6/month). The interest rate applicable to your loan will be specified when making a decision of your loan.
Read more about Tailored Consumer Credit ›
Show additional information
Hide additional information
Bank Loan SECURED

The loan is not amortised quickly enough. Change the loan amount or monthly repayment.
Loan term
Interest rate
%
Total cost
€
You need collateral for the loan, such as an owner-occupied home.
  • You need collateral for the loan, such as an owner-occupied home.
  • Suitable for one-off purchases of over €10,000
  • We can customise a loan repayment plan for you
  • Suitable for one-off purchases of over €10,000
  • We can customise a loan repayment plan for you
Loan drawdown and any possible partial drawdowns are subject to a charge based on the bank's service charges and fees.
  • Interest rate: %
  • Reference interest rate:
  • Effective interest rate: %
  • Number of repayments: repayments
The effective interest rate includes the full costs of the loan converted to the annual interest rate. Our loan offer based on your loan application provides detailed information on interest on your loan and other terms and conditions. The home loan costs consist of the origination fee accounting for YLL_DATA_INIT_PROVISION_PERCENTAGE % of the loan amount (minimum of YLL_DATA_INIT_COST_MIN euros) and a service fee of YLL_DATA_EXPENSES_MONTHLY euros. The costs of the secured consumer loan (bank loan) consist of an origination fee of 120 euros and a service fee of 2.50 euros.
The annual percentage rate of charge (APR) contains all costs of the credit (total interest rate and loan servicing fee of €6/month). The interest rate applicable to your loan will be specified when making a decision of your loan.
Read more about Bank Loan ›
Show additional information
Hide additional information
Period for which you apply for a loan
Loan amount
Interest rate
Loan repayment period

Estimated student loan

Repayment amount
 €/mo
Borrowing rate
 %
Total cost
 €

 €/mo

 €

 %

 €

 €

 €

12 yrs

96 

A student loan generates OP bonuses that are used, for example, for insurance premiums. 

Read more about student loan >
Apply for student loan
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  • The calculation is only suggestive. The loan offer made to you describes the loan interest rate and other terms and conditions in detail.

What is the student loan calculator?

The student loan calculator is a handy tool when planning taking out a student loan. It allows you to test how the length of your studies, loan repayment period and interest affect the cost of your student loan.

Try to fill in your information as accurately as possible in order to get the most out of the student loan calculator. Keep in mind that the student loan calculator result is only an estimate – your interest rate and other loan terms will be decided in detail as based on your loan application. Be sure to also note that your calculated amount of student loan compensation is only an estimate. Your final amount of loan compensation will be determined by Kela.

Student loan interest

The student loan interest rate is tied to the market rate plus the bank’s markup. The total interest rate of your student loan will be made of the reference rate (you select it in the application and we will use the rate valid on the drawdown date) and the markup (margin) charged by the bank. In your application, you can choose either Euribor 12 months or OP Prime as the reference interest rate.

The default interest rate used in the student loan calculator consists of the OP Prime reference interest rate plus a markup of 0.50 per cent. Euribor cannot be selected as the reference interest rate for the calculator.

Amount of student loan

You can use the student loan calculator to see what your loan costs would be with various loan amounts. When applying for a student loan, your actual loan amount depends on the amount of state guarantee issued by Kela. Your amount of student loan may be at most the amount guaranteed by Kela.

Check the following information for the student loan calculator

In the student loan calculator, you need to give information about

  • the length of your studies, and
  • • your educational institution

The student loan calculator does not take into account your possible benefits as an OP cooperative bank owner-customer. Be sure to also check them out, as owner-customers are entitled to many valuable benefits. For example, you can apply for a student loan online without handling costs. You also get access to many benefits offered by us and our partners.

Applying for a student loan online

The easiest way to apply for a student loan is online using your OP credentials. By applying online, you will automatically receive the loan decision electronically. You can apply for a loan also without OP credentials. Before applying, make sure that you have first obtained a loan guarantee from Kela. You do not need to provide information about the guarantee separately, as OP will receive it directly from Kela.

 

To make a drawdown request, log into op.fi and go to the following page from the left hand menu: Loans > Other financing options > Student loan > Apply for student loan

If you are between 18 and 26 years old, you get our daily banking services for free with an OP-Visa or OP-Visa Debit card.

The loan is granted by the OP cooperative bank.