Flexible Consumer Credit – loan of up to 8,500 euros without collateral

You are annually entitled to one grace month for your credit

Flexible Consumer Credit is perfect for financing both long-held dreams and necessary daily purchases. Flexible Consumer Credit is a consumer credit for a sum of 2,000 to 8,500 euros that is at your payday loans Hartsville TN disposal at all times. You do not need to tie down your property as collateral and can apply for the credit online at any time.

Why choose flexible credit?

In day-to-day life, we sometimes come across situations where access to flexible credit can be of great help. Whether you are renovating, moving house or have some other sudden need for cash, flexible credit helps keep your daily life and finances in balance.

Flexible consumer credit is handy because it is always at your disposal. You do not need to withdraw the entire loan at once; you can withdraw funds whenever you need. In practice, flexible credit means that you can use the same credit over and over without having to reapply for credit.

How does flexible credit work?

Like its name suggests, the credit is flexible. As you repay some of the loan that you have used, you will be able to borrow the same amount again. If you’re making large purchases, the amount of the repayment instalment you choose affects how quickly the entire credit is again available to you.

Flexible Consumer Credit works like a credit card but without a payment instrument. It is flexible depending on your situation in life, and you can adjust your repayment plan at any time.

Who can apply for Flexible Consumer Credit?

• You can apply for Flexible Consumer Credit if:
• you are at least 23 years old and use OP cooperative bank as your main bank
• you have regular income in terms of pay or a pension
• you have sufficient repayment capacity
• you have managed your personal finances well
• you have a permanent residence in Finland

If you are not yet our customer or do not have user identifiers for OP eServices, book an appointment at your nearest branch.

Am I entitled to a grace month on Flexible Consumer Credit?

Yes. You can have one grace month per year on your Flexible Consumer Credit. The grace month is free of charge. The grace month is the same calendar month every year.

Can I repay Flexible Consumer Credit all at once?

Yes you can. Although Flexible Consumer Credit is a revolving credit, you can repay it in larger instalments than agreed or pay off the entire loan at once. After you have paid back all your Flexible Consumer Credit, the same loan amount remains available to you for later purchases.

How do I apply for Flexible Consumer Credit?

Apply for Flexible Consumer Credit in OP’s digital services. You’ll get a credit decision right away or within two banking days, at the latest. The credit decision is valid for three months.

To activate your Flexible Consumer Credit, you must accept the credit offer. The funds will be transferred to your account immediately once you have accepted our credit offer. After this, you can use the credit in any way you see fit.

Costs of Flexible Consumer Credit

Flexible Consumer Credit is a revolving credit, and its costs consist of interest and the loan servicing fee, in addition to the loan amount. The loan servicing fee is charged each month, even if the credit is not in active use.

You make a monthly repayment of an agreed amount but at least 2.5% of the credit limit and a minimum of 50 euros. You can choose the 1st, 8th, 16th or 24th day of the month as the due date. After you have paid back some of the credit, you can withdraw it again for your use in OP’s digital services.

• Credit interest rate, 3-month Euribor + 7.95% (7.4% in )
• A monthly loan servicing fee of 6 euros (covers the credit establishment fee, loan withdraws to your account,hd and invoicing fee).

Flexible Consumer Credit is a revolving credit whose effective interest rate for the loan of 2,000 euros is % when the loan interest rate is a 3-month Euribor + 7.95 percentage points (7.4% in ) and the loan servicing fee is 6 euros per month.

The estimated total amount payable would be 2, euros. This calculation is based on the assumption that the entire loan is withdrawn 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 euros, resulting in a loan period of 12 months.