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Unsecured loan

An unsecured loan is a convenient way of financing both large and small purchases. A loan without collateral also gives security if something unexpected happens.

Apply for loan with or without collateral

Life’s full of situations where you may need a loan or financing. An unsecured loan is suited to financing purchases when you have a well-founded need for a loan but don’t have collateral or guarantors. For example, you can replace a suddenly broken household appliance or television using an unsecured loan or even finance a small redecoration.

An unsecured loan is a reliable financing method also when you’re making some long-considered purchases. Financing a car or an outdoor deck without collateral can be sensible, as loan repayment will adapt to your life situation, if needed. In addition, an unsecured loan may make better options available to you – and bring more opportunities.

Read more and apply for a loan without collateral

Apply for unsecured loan with the bank without collateral or guarantors

You can apply for an unsecured loan with OP conveniently online. Select between two different unsecured loan alternatives, Special Consumer Credit and Flexible Consumer Credit. Special Consumer Credit is an unsecured loan drawn down at once that can be applied from 2,000 euros up to 15,000 euros based on your needs and repayment capacity.

If you’d prefer a revolving consumer credit, apply for Flexible Consumer Credit. It’s ideal for financing small purchases. You can apply for Flexible Consumer Credit from 2,000 euros up to 8,500 euros.

To qualify for Special Consumer Credit or Flexible Consumer Credit, you must be a customer with OP. You can apply for a loan at op.fi or on OP-mobile if you have OP’s user ID.

Read more and apply for Special Consumer Credit

Read more and apply for Flexible Consumer Credit

Financing without collateral for any bank's customers

Even if you weren’t OP’s customer, you can still apply for financing with us without collateral or guarantors. Any bank's customers can apply for financing with us, for example, for a car purchase, home improvement or some other large purchase. In that case, financing is provided through one of our partner retailers: after you’ve closed the deal with the seller, you repay the financing to OP in instalments suitable for you.

If you want to get financing from one of our partner retailers, fill in an application online in advance. You’ll get a decision at once, so you can make your way to the store of your choice immediately after having received the decision and let them know that you’ll be paying for your purchase using OP’s financing service.
You can apply for financing without collateral up to 50,000 euros. The amount of financing varies between partner retailers.

Read more and apply for financing directly from our partner retailers

Why is it a good idea to apply for unsecured loan with OP?

By applying for an unsecured loan from your own bank, you can get financing at a reasonable interest rate and with a repayment period that suits you. But when you apply for an unsecured loan with OP, it’s usually the smartest choice as to the total costs. We don’t have hidden interests or other costs – you’ll always know the total cost of your loan.

Also, managing finances is easy and secure when you get all your banking services from OP. The loan repayment terms can be modified if your life situation changes, for example, if you change jobs or take parental leave.

It’s a good idea to apply for an unsecured loan with OP because:

  • You’re entitled to a grace month for your credit.
  • You can change the amount of the instalment or the due date of repayments.
  • You can also pay off the entire loan in full without any extra charges

Who can apply for unsecured loan?

You can apply for unsecured Special Consumer Credit or Flexible Consumer Credit if:

  • You can apply for unsecured Special Consumer Credit or Flexible Consumer Credit if:
  • You are 23–74 years old and use OP cooperative bank as your main bank.
  • You have no payment default entries, and your credit history is in order.
  • You receive regular pay or a pension. A regular job makes it easier to get a loan.
  • You can manage your current payment obligations.
  • You have a permanent residence in Finland.

What’s the interest rate on unsecured loans?

In comparing unsecured loans, pay special attention to the total costs of the different loan alternatives. The loan costs of unsecured loans consist of the interest rate, expenses and other charges and fees.

When applying for a loan without collateral, make sure that the loan costs have been specified clearly. Loan costs can be compared reliably on the basis of effective interest rate and total costs.

Read more and apply for Special Consumer Credit

Read more and apply for Flexible Consumer Credit

 

 

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 9.58% if the credit interest rate were the 3-month Euribor + 7.95% (7.4% in September 2021) and the loan servicing fee 6 euros per month.

The estimated total amount payable would be 8,755.09 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 146 euros all the way to the final instalment.

The loan is granted by OP Retail Customers Plc

Flexible Consumer Credit is a revolving credit whose effective interest rate for 2,000 euros is 14.75% when the loan interest rate is a 3-month Euribor + 7.95 percentage points (7.4% in January 2021) and a six-euro loan servicing fee per month. The estimated total amount payable would be 2,152.91 euros. This calculation is based on the assumption that the entire loan is drawn down and that the interest rate and charges and fees remain unchanged throughout the loan term. It is also assumed that the loan is repaid in the monthly minimum repayments of 179.70 euros, resulting in a loan period of 12 months.

The loan is granted by OP Retail Customers Plc

Osamaksurahoitus on kertaluotto, jonka todellinen vuosikorko 10 000 euron luotolle 5 vuoden maksuajalla on 6,595 %, kun rahoituksen korko on 3,9 prosenttiyksikköä (5/18), perustamismaksu 190 euroa ja laskutuspalkkio 8 euroa/kk. Arvioitu luoton kokonaiskustannus on 11 712,60 euroa ja maksuerien 195,21 euroa lukumäärä 60 kpl. Laskelma on tehty olettaen, että luotto nostetaan kerralla ja luoton korko sekä maksut ja palkkiot pysyvät samana koko laina-ajan.

Luoton myöntää OP Yrityspankki Oyj