Motorcycle loan – motorcycle financing from a familiar bank

Did you find the motorcycle of your dreams? Apply for a motorcycle loan from a familiar bank, easily and safely. Compare between motorcycle loans, select the one that suits you best, with or without collateral, and file an application easily online.

Special Consumer Credit

Unsecured one-off loan that transfers quickly to your account.

  • 2,000–15,000 euros
  • Unsecured
  • Interest rate 7.95% + 3-month Euribor
  • Only for OP customers

Bank Loan

Secured one-off loan with the lowest interest rate.

  • Starting from 10,000 euros
  • You need collateral for your loan
  • Typical interest rate 3–5% + 12-month Euribor
  • For any bank’s customers

The new
OP Tailored Consumer Credit

A new unsecured loan of 2 000–30 000 euros with a personal interest rate. Interest of 3,5% + the 3-month Euribor rate. Request a loan decision to view your personal interest rate.

Compare motorcycle loans – what kind of a loan does suit you best?

You can apply either for a secured or an unsecured loan to finance a motorcycle.

  • For an unsecured motorcycle loan, in other words Special Consumer Credit, you don’t need to pledge your assets in security for the loan. You can flexibly anytime apply for Special Consumer Credit to finance a motorcycle. You can apply for it as an OP customer.
  • A secured motorcycle loan, in other words a Bank Loan, is generally the most affordable option to finance a motorcycle terms of the interest rate. In security for the Bank Loan, you’ll always need to pledge, for example, your home or holiday home. You can apply for a Bank Loan from us even if you are not an OP customer.

When you select a financing option for motorcycle, take your time considering the loan amount you need. You can use the loan to cover also other purchases related to the new motorcycle, like motorcycle riding clothing.

Special Consumer Credit – motorcycle loan without collateral up to 15,000 euros

If you want an unsecured loan, apply for Special Consumer Credit. You can apply for a motorcycle loan without collateral up to 15,000 euros. The interest rate for the unsecured Special Consumer Credit is 7.95% + a 3-month Euribor.

The advantage of the unsecured motorcycle loan is that you’ll receive a loan decision quickly. File a loan application on the service or OP-mobile and you’ll receive our loan decision right away, or within two banking days. After you have accepted the loan agreement, you’ll receive the money in your account right away.

Please note that only OP customers can apply for unsecured loans.

Read more about unsecured Special Consumer Credit >

Bank Loan – motorcycle loan with collateral starting from 10,000 euros

You can apply for a secured Bank Loan for a motorcycle starting from 10,000 euros with no upper limit. You can apply for the loan alone or with another person irrespective of whether you are an OP customer.

The interest rate for a secured loan is lower than that for an unsecured loan because collateral secures that the loan is repaid to the bank. The loan interest rate is determined separately for each customer – it is typically 3–5%.

In general, a residential property, such as an owner-occupied home, a buy-to-let home or a holiday home, is used as collateral. The home doesn’t need to be free from debt to be used as collateral for the loan. Other assets, such as forest, investments or savings, can also be used as collateral. The motorcycle to be bought or consumer goods aren’t eligible as collateral in security for a secured loan.

As an OP cooperative bank owner-customer, you earn OP bonuses on the secured Bank Loan.

Read more about a secured Bank Loan >

How can I apply for a motorcycle loan?

You can apply for a motorcycle loan easily at or on OP-mobile.

If you apply for an unsecured motorcycle loan, in other words Special Consumer Credit, you’ll get a loan decision without any unnecessary wait time. When you finish your application and accept the loan agreement, you’ll receive the money in your account right away. You’ll commonly receive a secured Bank Loan decision within 1–3 days.

Read more and apply for an unsecured Special Consumer Credit >

Read more and apply for a secured Bank Loan >

Why does it pay to apply for a motorcycle finance from OP?

Applying for a motorcycle loan from an OP cooperative bank is easy and safe.

  • You’ll get motorcycle finance at an affordable interest rate.
  • You can repay your loan in a flexible way and apply for a change to your repayment plan.
  • You will always see clearly the total costs of your loan.

How balanced your income and expenses are affects the granting of a loan. We always want to make sure that the size of a loan is suitable for your situation and that you won’t have any problems in repaying it. Compare between the options and assess your repayment capacity realistically. Apply for the loan with an amount so that you allow sufficient money for other regular expenses and saving.

Flexible according to your circumstances

You can anytime repay a larger amount than the agreed monthly repayment towards a secured or an unsecured motorcycle loan. You can also pay off the loan in full.

When applying for the motorcycle loan, you agree on the size and schedule of the repayments for paying back your loan. However, if necessary, you can along the way change the payment amount and the loan’s maturity date or apply for a grace period or a repayment holiday.

Read more about managing an unsecured Special Consumer Credit

Read more about managing a secured Bank Loan

A bank loan is one-off credit. If the 12-month Euribor is 1.921% (September 5, 2022) and the loan’s interest rate is a 3.9% margin plus the 12-month Euribor, the effective interest rate on a bank loan of 10,000 euros with a five-year repayment period will be 7.2%. A monthly servicing fee of 2.50 euros per month will be charged. An origination fee of 120 euros will be payable when the loan is drawn down. The estimated total amount payable will be 11,842 euros.

This calculation is based on the assumption that the entire loan has been drawn down, the loan interest rate, fees and charges are constant throughout the loan term, and the loan is repaid in equal instalments of 192.88 euros each month. The bank loan is granted by an OP cooperative bank.

Special Consumer Credit is a one-off loan: the effective interest rate for a 7,000-euro loan with a 5-year payback period would be 11.59 % if the credit interest rate were the 3-month Euribor + 7.95% (9.68 % in November 2022) and the loan servicing fee 6 euros per month.

The estimated total amount payable would be 9,181.69 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 also assumes that the loan is repaid in monthly instalments of 155 euros all the way to the final instalment.

The loan is granted by OP Retail Customers Plc

OP cooperative bank owner-customers earn OP bonuses from:

  • Funds in savings accounts

  • Home loans, student loans and secured bank loans

  • Mutual funds and unit-linked insurance assets

  • Insurance premiums paid, such as home and motor vehicle insurance and continuous travel insurance

 OP bonuses are used for the bank’s service charges and insurance premiums.

The financing is granted by OP Retail Customers plc, OP Corporate Bank plc or OP cooperative bank, depending on the financing product.