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Transfer of loans

Consolidate your loans into a single loan with OP. You can also combine several credits into a single, larger loan.

One loan – one set of costs

You will pay the costs of one loan and get a moderate interest rate for your loan.

You will be able to understand and manage your finances more easily

By concentrating your loans with a single bank, you will be able to keep track of your finances more easily.

Concentrating your banking is smart

Have you drawn down a loan for a home improvement, car or another large purchase from another lender and would like to transfer all your loans to OP? Usually, concentrating your loans is smart and makes it easier for you to manage your finances. 
Transferring your loans to a single bank will pay off. You will get a clearer picture of your finances, and managing your loans with a single lender will be easier. 

As the main rule, a single larger loan will be cheaper than several smaller loans. You will only pay the monthly costs, such as loan administration fees, for a single loan. Therefore, it pays to combine small credits into a single loan. 


  1. Jack changed his car and drew down a car loan of 15,000 euros from the car dealer. He also drew down an unsecured loan to complete a home improvement project. Now he would like to transfer his car loan to OP and combine it with the home improvement loan.
  2. Jack files an application for a secured bank loan. He lives in a home that he owns. He has repaid a home loan for a couple of years and believes that his home will be accepted as collateral for a bank loan. 
  3. Jack gets an offer for a bank loan and accepts it. He uses the bank loan to repay his existing loans.
  4. Jack is happy because his future loan servicing costs will be smaller and he will spend less money on the loan interest.

Would you like to transfer your home loan to OP?

If you want to transfer your home loan to OP or put the home loan taken out from another bank to tender, start by filling in a home loan application online. You can fill in the application with another person if you want to transfer your joint home loan to OP.

  • Find out in advance your monthly income and expenses, the amount of the existing loans, available collateral and home details.
  • For the loan application, we need the details of both loan applicants.
  • Start transferring your loans by filling in a home loan application online. The loan application does not obligate you to take out the loan but you’ll get a preliminary loan offer after that.

Read more about a home loan and apply for it >

The most inexpensive interest rate – choose a secured bank loan

Use a collateral to get the most reasonable interest rate for your loan. As collateral, you can use, for example, a home that you own if you have made payments on your home loan or if you have bought your home either fully or partly with your savings. You can also use other assets, such as investments or forest, as collateral.

For transferring or combining your loans, we recommend that you take out a secured bank loan, which is OP’s loan option with the lowest interest rate. As a rule, we don’t grant a bank loan for managing payment difficulties.

What kind of loan or credit can you transfer to OP?

Before granting a loan, we will always analyse your finances and only offer you a loan that suits your financial situation. For transferring or combining loans, we will offer you a loan under the same lending principles as for other purposes. 
The granting of a loan depends on the amount of your existing loans, your income and the available collateral. If you have a payment default entry, we won’t grant you a loan. 

You can transfer any kind of loan to OP, but you must meet our lending criteria. These include regular income in terms of pay or pension, sufficient repayment capacity, available collateral and no payment default entries. 

You can also apply for a secured loan with another person.


Help with payment difficulties?

Instead of applying for a new loan, you can also discuss other alternatives with your bank. Book an appointment with your bank or read more about loan arrangements.

Collateral Collateral

You are eligible to apply for the secured Bank Loan if you have regular income in terms of pay or pension, have sufficient financial standing, have managed your personal finances well and can provide collateral.

Why is collateral needed?

Banks require collateral to ensure that loans are repaid on time. Having to pledge collateral for the loan also benefits you, as the costs of a secured loan are lower than those of an unsecured loan. 
What can be used as collateral? 

You can use as collateral, for example, an owner-occupied home, a summer cottage, deposits, securities or a forest estate. Homes are the most popular type of collateral. If you have repaid instalments on your earlier loans, such as a home loan, you may have spare collateral and can use that as collateral for your new loan. 
How much collateral is needed? 

The collateral value of your collateral is always calculated on a case-by-case basis. Different types of collateral have different calculated collateral values.
Ask more about collateral 

When applying for a loan, you don’t yet need to have a clear idea of what you intend to use as collateral. You can discuss it with our expert after having submitted the application. We’ll help you determine the value of your collateral, if needed.


Loan repayment repayment method, monthly repayment, due date

Your bank agrees with you on the repayment method and the monthly repayment. You can choose a due date that suits you best. The recommended loan term for the secured Bank Loan is a maximum of 5 years. You can discuss the loan term with your bank if the period of five years seems too short.

The loan terminates when the last instalment has been paid.
Lainan kustannukset Korko, todellinen vuosikorko, marginaali, hoitokulu

Lainan kustannukset muodostuvat viitekorosta, marginaalista ja lainan takaisinmaksuun liittyvistä hoitokuluista. Lainan käyttöönottamisesta ja mahdollisista osanostoista veloitetaan lisäksi pankin palveluhinnaston mukainen palkkio.

Pankkilainan marginaali on asiakaskohtainen, ja siihen vaikuttavat mm. lainan vakuudet, maksukyky ja muu asiakkuus. Lainatarjouksesta näet lainan todellisen vuosikoron, jolla tarjousta voi verrata mahdollisiin muihin tarjouksiin. Todellisessa vuosikorossa huomioidaan lainan nostamiseen ja sen hoitamiseen liittyvät kustannukset.

Pankkilainasta veloitetaan kuukausittainen 2,50 euron hoitokulu, sekä korkeintaan 120 euron suuruinen toimitusmaksu lainan noston yhteydessä. Lainan korko on 12 kuukauden euribor + pankin kanssa sovittu marginaali. 

Pankkilaina on kertaluotto, jonka todellinen vuosikorko 20 000 euron lainalle 10 vuoden maksuajalla on 3,77 %, kun luoton korko on 12 kuukauden euribor + 3,85 % (3,36 % 11/2020) ja lainasta peritään kuukausittainen 2,50 euron hoitokulu, sekä lainan noston yhteydessä 120 euron kertaluontoinen toimitusmaksu. 

Arvioitu lainan kokonaiskustannus on 3 940 euroa. Laskelma on tehty olettaen, että laina on nostettu kokonaan, lainan korko sekä maksut ja palkkiot pysyvät samana koko laina-ajan ja luotto maksetaan takaisin 200 euron tasaerissä kuukauden välein. Luoton myöntää Osuuspankki.

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

Loan repayment holiday and other changes Repayment instalment, payment date, extra repayment

You can apply for a repayment holiday for your Bank Loan on the op.fi service, during which you will pay only interest. You can also apply for a change to the repayment instalment and date. Such changes are subject to a charge based on the bank's list of service charges and fees.

Extra repayment

You can amortise your loan in addition to your normal monthly instalment. This extra repayment does not defer the next instalment or payment date. The extra repayment is not subject to a charge.

To make an extra repayment, you need the number of your loan which you can find in the Loans section. After that, go to "New payment" under the Daily banking services section and enter your loan's number in the "Payee's account or IBAN" field. Then proceed as instructed. The amount of your extra repayment is debited to your account on the same day.

If you have a fixed-rate loan, please contact the bank that has granted the loan because extra repayment may be subject to a charge under the general loan terms and conditions.

Take a look at the terms and conditions governing loans, pledges and guarantees. You will accept the terms and conditions of the loan and collateral agreement at the time of signature.

Loan terms and conditions (pdf)

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 or OP cooperative bank, depending on the financing product.