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Loan repayment holiday and other changes to your loan

Your loan repayment terms can be changed if the repayment plan agreed with your bank does not fit your present life situation for some reason. Change of job, change in salary and taking a study or parental leave are examples of these situations. You can change your repayment plan easily online. You can also request changes to the reference rate of your loan, for example. Please note that we will check your credit history when making changes.

Repayment holiday for home loan, student loan or bank loan

If your life changes and your ability to repay decreases significantly, you can apply for a repayment holiday for your loan. During a repayment holiday, you will not repay the loan principal but only interest.

You can apply for a repayment holiday for a home loan, student loan and bank loan. A grace month is not available for these loans.

A repayment holiday can help in temporary life situations, but consider your other options carefully before applying for one. Taking a repayment holiday will have impacts on your loan's repayment later: it can lead to a longer loan term or larger upcoming instalments.

Apply for a repayment holiday

Grace month for Flexible Consumer Credit, Special Consumer Credit and OP Tailored Consumer Credit 

You can get one grace month per year for Flexible Consumer Credit, Special Consumer Credit and OP Tailored Consumer Credit, without a separate application. During this month, you will not make a repayment or pay interest. The grace month is free of charge. The grace month is the same calendar month every year. You can’t apply for a longer repayment holiday for these loans.

Read how you can make changes to unsecured loans

Changes to loan repayment or due date

You can apply for changes in your monthly loan instalment: the amount of your loan principal repayment and the instalment's due date on OP's digital services.

Send your application at least four weeks before the desired due date. We can then process your application and make the changes effective as of the requested due date.

If you don't receive any decision for your application before your next instalment's due date, pay that instalment normally. In that case, changes will take effect on the following due date.

We'll contact you if we need more information related to your application. Please note that our Customer Service can't speed up the processing of your application.

Apply for a change to loan repayment or due date

The loan calculator is handy for determining the instalment amount that suits you. A suitable amount is usually 25–30% of your monthly net income because, in addition to the loan repayment, you should also have enough money for your daily life and savings. The recommended total loan term is at most 20–25 years for home loans and 5 years for consumer credits.

Try out the loan calculator

To change your repayment plan, do as follows

Home loan, student loan and bank loan

  1. A change is subject to a charge based on the bank's Charges and Fees. If you have OP bonuses, they will be used to pay for the charge. The charge for the change can be charged immediately, but at the latest with your next loan instalment. Check the charge for changing your repayment plan in your bank’s Charges and Fees.
  2. Please contact our Customer Service.
  3. Be prepared to provide information on matters such as your income and expenses. To be valid, the application must be approved by all co-borrowers (in the case of joint loans).
  4. We will inform you by message whether your application has been approved or rejected. If you don't receive any decision for your application before your next loan instalment due date, pay that instalment normally. Following our progress in processing your application is not possible, so please wait until we contact you. We'll process your application as soon as possible.

Log in and apply


OP Tailored Consumer Credit

To make changes to the repayment plan, please call OP Tailored Consumer Credit Customer Service, tel. 010 252 7450, Mon–Fri 8.00–16.30. The cost of calls: The charge is the same as for normal local calls or domestic mobile call charge as specified in your telephone service provider's price list.

Flexible Consumer Credit and Special Consumer Credit

You are only able to change upcoming instalments of which you have not received invoice yet.

To change your repayment plan, please contact our Customer Service.


Changing the reference rate

You can request a change in the reference rate in chat with the help of OP Aina. Whenever necessary, the bank will contact you.

Request a change in the reference rate well in advance. The change will take effect from the following interest rate adjustment date, provided that you apply for the change in the reference rate at least 14 days before the interest adjustment date.

If the reference rate is changed when the interest rate is adjusted, only a fee based on the list of charges and fees will be charged for it. The fee can be paid with an OP cooperative bank owner-customer’s OP bonuses. If the reference rate change does take place when the interest rate is adjusted and if interest rates have fallen, the bank might charge you an interest rate differential fee.

See the bank’s list of charges and fees

Read more about reference rate options

Repayment plan changes to hire purchase car financing and a one-off loan and overdraft facility

You can apply for a repayment holiday of a maximum of three (3) months for your hire purchase agreement. You can apply for a repayment holiday for car hire purchase granted by OP Corporate Bank on OP's online financing service (in Finnish).

If you have a one-off loan or overdraft facility, you can get two grace months per calendar year. You can apply for the grace period on OP's online financing service (in Finnish). You can log into the service with the personal online banking user identifiers issued by any Finnish bank or Mobile ID. 

Go to OP's online financing service

To change the debit account of your loan, send us a message on OP-mobile or the op.fi service (login in Finnish or Swedish). In your message, state

  1. your loan’s number
  2. that you want to change the debit account for the loan
  3. the number of the new debit account.

Check any charges from the list of charges and fees. To see your current debit account, go to OP-mobile, select your loan and go to Information. The loan debit account must be an OP current account where you are the account holder. If the loan has several borrowers and if we need their consent to the change, we will contact them.
If you don’t have an OP user ID, you can request the debit account change from a bank branch by booking an appointment.