Typical situations in which you may wish to change your loan repayment scheme include a new job, a change in salary, or going on a study or parental leave. You can, for example, apply for a repayment holiday for your home loan or change the due date of future repayment instalments. With Flexible Consumer Credit and Special Consumer Credit, you can easily make changes without the need for an application.
Repayment holiday
During a repayment holiday, you will not repay the loan capital but only the interest. You can apply for a repayment holiday for a home loan, student loan and bank loan. You can’t apply for a deferment month for these loans.
Deferment month
You can get one deferment month per year for Flexible Consumer Credit and Special Consumer Credit. During this month, you will not make a repayment or pay interest. The deferment month is free of charge. The deferment period is the same calendar month every year. You can’t apply for a longer repayment holiday for these loans.
Changes to loan repayment (repayment instalment and date)
Do you want to make changes to your future loan repayments? You can change the loan repayment instalment, i.e. the repayment amount, and the repayment 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 loan term is a maximum of 20–25 years for home loans and 5 years for consumer loans.
To change your repayment scheme, do as follows
Home loan, student loan and bank loan
The changes are subject to a service fee that owner-customers can pay with their OP bonuses. Otherwise, the service fee will be added to the next repayment instalment. You can easily find your own bank’s list of service charges and fees in the online application.
- Log in to op.fi with your user identifiers and select the loan to which you wish to make changes. Check the price list.
- Select the change you wish to make, fill in the application and send it.
- We will start processing your application within three banking days. If we need further information, we will contact you by phone.
- We will inform you by online message whether your application has been approved or rejected.
Flexible Consumer Credit and Special Consumer Credit
You can only change future instalments for which you have not yet received a bill.
- Log in to op.fi with your user identifiers and select the loan to which you wish to make changes.
- Fill in and save the data.