Student life

Welcome to OP's student page! On our Student Life page, you can find information about managing your daily finances as a student and about financing your studies. Once your livelihood is secured and your insurance policies up-to-date, you can focus on student life.

Financing your studies

In Finland, a student's livelihood is generally ensured by student financial aid and housing supplement, government-guaranteed student loan, a side job – or a combination of some of these. Student financial aid aims to secure your livelihood during your studies. In case student financial aid and housing supplement prove insufficient, student loan comes in useful.

As a student, you are entitled to student financial aid, provided that you fulfil its criteria. Read more

A student can receive housing allowance during the study months while he/she is living in a rental home or a right-of-occupancy home. Read more

A student loan is a government-guaranteed loan. Students can apply for a student loan directly at a bank. Read more

With OP-mobile, you can easily manage all your daily banking using your smartphone. Pay your invoices and check your account balance whenever you want. Read more

Our Pivo app is a smart wallet on your smartphone. It tells you when your card is being debited, keeps you up-to-date with your account transactions and anticipates your upcoming transactions. Read more and love it

With your own life choices, you can have a major influence on how much you need to pay for electricity, phone and food. The Consumers' Association of Finland, for example, has assembled tips for saving money. Read tips (in Finnish)

When you want to start saving and are looking for a place for your savings, you can open a cost-free Money Box on OP-mobile or the service. Money Box is an easy and fun way to save. Read more

A current account is an account to which you can link a payment card and from which you easily pay bills, purchases and loan repayments. Read more >

OP Classic is an international debit card, and a charge and credit card, that university students can get with a credit limit of 2,000 euros . Read more >

OP Debit is a debit card, with which you can also pay abroad and online. Read more >

Managing your finances is not expensive! If you are under 26, you can have all the needed banking services from us free of charge:
  • Current Account and online bank statement
  • OP Basic and OP Debit. In addition, if you are a university student in a Finnish university, you can apply for an OP Classic card with a credit limit of 2,000 euros.
  • OP eServices
  • Home and travel insurance -21%

Read more about benefits

Want more benefits? If you are an OP cooperative bank owner-customer, your savings, loans and insurance transactions generate OP bonuses which can pay some insurance premiums or banking service fees for you! An owner-customer gets discounts on banking services and insurance policies, too.

Read more about being an owner-customer

Student loan

In case study grant and housing supplement prove insufficient and you want to focus on studying, a student loan comes in useful. With OP, applying for a student loan and drawing it down can be done conveniently online. A student loan requires a guarantee, but it is granted to all students by the government ‒ you do not need any other collateral.

For planning your student loan, the student loan calculator is helpful. 
In general, student loan repayment begins in two years’ time after the expiry of student financial aid. It is not advisable to repay your loan during your year of graduation or before it but, rather, interest payments and repayment of your loan principal begin after graduation. We can, however, agree on repayment based on your life situation and future plans.

You will be entitled to student loan compensation from KELA, if

  • you began to study your first university degree after 1 August 2014
  • you graduate within the stipulated time
  • your student loan amounts to over 2,500 euros. You may receive a 40% compensation of the loan amount above this level.

Read more about student loan compensation

You will be entitled to student loan compensation from KELA, if

  • you began to study your first university degree before 1 August 2014 but after 1 August 2015
  • you graduate within the stipulated time
  • your student loan amounts to over 2,500 euros.

Read more about student loan tax deduction

You can use our calculator to assess whether you get student loan compensation or tax deduction, within what time you should graduate and how much compensation or tax deduction you can get.

Calculate your student loan compensation or tax deduction

A student loan is primarily intended to support your daily spending but you can use it as you like: rent, school supplies, clothing or, say, travelling.

The student loan may also come in useful if the student wants to buy something necessary, such as a computer.

Student accommodation

Many rental companies require that their tenants take out home insurance. Whether you live in a rented or owned dwelling, home insurance is necessary because it provides protection for your home and belongings in the case of e.g. burglary or damage.

If you are aged between 18 and 27, your home insurance will be cheaper at OP, since we will give you a 21% discount on almost all home and family policies.

We will help you in finding a suitable rental flat/house and in all questions related to home sales and rental housing. Read more

Living in a rental place is carefree, but with the amount of monthly rent you could also repay a home loan. Owning your own home also generates an asset for you. Read more

If you are dreaming about your first own home, we recommend you saving under the ASP scheme. It is an encouraging scheme that makes it easier for you to buy your first home.

Why is the ASP savings scheme suitable to students?

  • You can start saving under the scheme already at the age of 15.
  • You do not need regular income to open an ASP account.
  • The savings plan is flexible according to your life situation.

After you have saved 10% of the purchase price of your home, we can grant you an ASP loan to cover the rest of the purchase price.

The Rent Deposit Account is an ideal solution for depositing your security deposit. The tenant deposits an amount corresponding to a maximum of three-month rent, as agreed with the landlord, to a current account and pledges the account.

Working while studying

Your earned income affects the number of months for which you can accept student financial aid. Return on assets, such as dividends, rental income and capital gain, are considered as income. Using Kela's calculators (in Finnish), you can ensure that your annual income does not exceed the set annual maximum.

Establishing a business and entrepreneurship are topical issues for many students. We can offer a variety of services ideal for entrepreneurs.

  • You have many choices to make when starting a new business. These tips help you get your business started easily and smoothly. Read more
  • OP Business mobile helps you do your banking transactions easily with your mobile phone wherever you are. Read more
  • We can offer you a wide range of other services and tools too for your company's payment transactions. Read more

We provide daily support for entrepreneurs from creating a business idea for the company's each stage, from expansion to the purchase of business premises. Read more

Even with small income, saving is possible if you make it a habit. Our saver's funds are an easy way to start investing. They are suitable investment solutions for students because you can start saving even with a small amount of money.

  • OP-Conservative is ideal for those who are cautious investors and seek a moderate return but do not want to spend time worrying about market movements. Read more (in Finnish)
  • OP-Moderate is a good option for you if you seek a good return but are not interested in watching stock markets closely. Read more (in Finnish)
  • OP-Brave is a long-term investment vehicle suitable to you if you seek a high return and are not afraid of occasional value fluctuations. Read more (in Finnish)

When time goes by, the regularly saved sums will add up to a nice amount.

We are pleased to cooperate with students and annually offer dozens of jobs around Finland to the students of universities of applied sciences and research universities in the form of thesis work and work placements. Read more

The summer is the time of summer jobs for many students. Every year, we provide hundreds of future financial experts with the opportunity to take their first steps towards the top of the financial business. Read more (in Finnish)

We offer interesting and challenging jobs and care paths to new graduates too – with us you can make use of your skills acquired during studies in practice. Would you also like to be part of Finland's leading financial services group?


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