Frequently asked questions about leasing and investment financing

You can calculate a suitable monthly payment for your company and compare financing alternatives: use our financing calculator at: https://rahoitus.op.fi/rahoituslaskuri

OP Corporate Bank plc collaborates with several vendors. If you need financing to make a purchase from one of our partners, the vendor will handle the financing application on your behalf.

You can also apply for financing directly, through your own OP cooperative bank and contact person, or by emailing a financing enquiry to asiakaspalvelu.alueet@op.fi. To speed up processing of your application, attach the vendor’s offer and your company’s latest financial statements.

If the purchase is an additional investment but does not involve a trade-in, the vendor will invoice the buyer (you) for the agreed down payment. You must agree the terms of payment directly with the vendor. OP Corporate Bank plc will not finance the down payment.

Get in touch with the contact person named in the offer, or contact Customer Service.

You can ask your contact person or Customer Service about the reasons for the negative decision.

Please contact our Customer Service.

Sign the agreement at allekirjoitus.op.fi. Log into the service using your personal online banking user ID.

You can provide supplementary information at: op.fi/financial-customer-information. For the time being, private traders, companies and consortiums not registered on the Trade Register can provide information on a specific form available from the vendor or OP Corporate Bank. If your company has been listed as a limited liability company on the stock exchange, there is no need to provide details on owners or beneficial owners.

You should save all your electronically signed documents in your own folder in the Electronic Signature Service. When signing a document electronically, you can also choose to have the document sent to your email address by ticking the box: ”After all parties have signed the document, I want to receive a copy by encrypted email at the address below” and adding your email address. If we have to resend the signed agreement to you, we will charge a fee for this in line with our list of charges and fees.

For 30 days. If the document is no longer available via the service, contact Customer Service.

This could be for many reasons, the most typical being that the financing is not yet valid because mandatory information is still required. Have you updated the beneficial owners, is the purchased asset registered in OP Corporate Bank’s name, have insurance company details been submitted and have you signed the delivery confirmation? If the financing is already valid, there may be errors in the invoicing details. In such a case, please contact Customer Service as soon as possible in order to check the invoicing situation.

You can check your financing agreement details on OP’s online financing service. See the top of the page for further details. After the agreement entered into force, we will have sent you a letter about the start of the agreement and a framework repayment plan for the agreed loan term.

You can check your financing agreement details on OP’s online financing service. See the top of the page for further details. After the agreement entered into force, we will have sent you a letter about the start of the agreement and a framework repayment plan for the agreed loan term.

This information is available from the financing agreement, invoice or OP's online financing service. See the top of the page for further details.

This information is available from the repayment plan, financing agreement or OP's online financing service. See the top of the page for further details.

Please contact our Customer Service.

You can order an ELY Centre certificate from Customer Service.

Businesses can order e-invoicing by emailing their e-invoicing details to yrityspankki.skannaus@op.fi

The agreed handling fee will remain unchanged regardless of the form of invoicing used.

If this does not clarify the situation, contact Customer Service.

You can view the current invoicing situation on OP's online financing service. See the top of the page for further details.

You can contact Customer Service to verify your invoicing situation.

You can apply for a change to the frequency of invoicing. The change is subject to a service fee specified in our list of charges and fees. Contact Customer Service about the change.

You can check the invoice from the repayment plan (sent by post for certain financing products when the agreement becomes valid), or view it on OP's online financing service. See the top of the page for further details.

You can change the monthly due date of the invoice by email. The change is subject to a service fee specified in our list of charges and fees. Contact  Customer Service about the change. 

You can pay a larger instalment using the details of the invoice you received – use the reference number and payee’s details shown on the invoice. We can deduct the larger instalment from the principal (shortening the loan term), or use it to reduce the size of each remaining instalment. Contact Customer Service to discuss how the larger instalment will be deducted from the amount owed.

You can make an extra repayment using the details of the invoice you received – use the reference number and payee’s details shown on the invoice. We can deduct the extra repayment from the principal (shortening the loan term), or use it to reduce the size of each remaining instalment. You must contact Customer Service to agree on this.

We can send you copies of invoices, for which you will be charged a fee in accordance with our list of charges and fees. Please contact Customer Service.

You can order accounting records from the Accounting Records Service at op.fi. Click through the path below to find the service:

op.fi -> Corporate customers -> Payments and invoicing -> OP Accounting Records Service

To place an order, you must first identify yourself (using an online banking user ID). An order can be placed by an official representative of your company, or a person authorised to place orders on its behalf. The page also has additional information on applying for authorisation to order on behalf of a company. Read the guidelines on the page before ordering.

If you need help with ordering accounting records, call our Customer Service for corporate customers on 0100 05151 (Mon–Fri from 8.00–16.00, local network charge/mobile charge).

If the problem is temporary, you can request a 20-day additional payment period subject to penalty interest. You can ask for an additional payment period by calling our Customer Service. Go to Customer Service’s contact information

If the additional period does not solve your temporary payment difficulties, you can apply for a loan modification extending the payment period to a maximum of three (3) months. When applying for this, you will be asked to provide information about the deterioration in your repayment capacity. We follow the OP’s generally applied processes and criteria when granting loan modifications. You can apply for a repayment holiday for investment financing (hire purchase) granted by OP Corporate Bank. Apply via OP’s online financing service. See the top of the page for further details

If you have overall concerns about your repayment capacity, please contact Customer Service as soon as possible.

Repayment holiday

If there are comprehensive grounds for doing so, your company can apply for a repayment holiday lasting a maximum of 3 months: the amount of principal payable during the repayment holiday period is either reallocated to later payments, or moved to the end of the loan term (by extending the loan term). A repayment holiday can only be taken after it has been granted by OP: you must apply for the repayment holiday before you suspend monthly payments.

Reducing the monthly instalment

If there are comprehensive grounds for doing so, and the loan term for the financing agreement can be extended, your company can also apply for a reduction in monthly loan instalments. This loan modification requires a positive decision from OP: you must apply for a loan instalment reduction and await OP’s approval before reducing the size of your repayments.

You can apply for a loan modification via OP's online financing service. See the top of the page for further details. A change of payment schedule is subject to a fee in accordance with the list of charges and fees/the interest payable and terms of the agreement will be reviewed when you apply for a change of payment schedule.

The processing time is typically 2–3 weeks.

• Why is the change of payment schedule needed?
• What kinds of action has your company taken to improve the situation?
• What is the business outlook, in terms of continuity, within your sector?
• Have you also applied for equivalent change of payment schedule from other financial institutions?
• You must also provide your company’s latest financial statements. If more than 6 months have passed since the last financial statements were released, you must provide an income statement and balance sheet based on the latest interim accounting run.

The vendor will register the asset on your behalf, with OP Corporate Bank plc as the owner and your company as the holder of the asset. Alternatively, OP Corporate Bank plc can provide the parties to the purchase with power of attorney to register the asset.

The asset must have insurance either fulfilling or exceeding the minimum level stated in the agreement terms. In general, the asset shall be insured with the following insurance:

• For financed assets subject to registration (such as trailers, quad bikes and snow mobiles etc): motor liability insurance, comprehensive motor vehicle insurance and financial liabilities cover
• For machinery (subject/not subject to registration) (including farm tractors, earth-moving machinery, forest machines and vehicles not subject to registration etc.): motor liability insurance (only if subject to registration), Medium Motor Insurance and financial liabilities cover
• For other machinery and equipment: fire and burglary insurance

The asset must be appropriately insured throughout the financing agreement’s period of validity.

If you intend to take a motor vehicle owned by OP, or bought with investment financing (hire purchase) provided by OP, to Europe, you will need OP’s written permission to take the vehicle out of Finland and a Green Card as confirmation of valid motor liability insurance. You can apply for authorisation to take a motor vehicle abroad by email from auto.asiakaspalvelu@op.fi or by calling 010 252 5843 (from 9.00 to 16.30). You will be charged a fee for authorisation to take a motor vehicle abroad, in accordance with our list of charges and fees.

You can apply for authorisation to take a motor vehicle abroad by sending an email to auto.asiakaspalvelu@op.fi or by calling 010 252 5843 (from 9.00 to 16.30). You will be charged a fee for authorisation to take a motor vehicle abroad, in accordance with our list of charges and fees.

You can sell the asset, but you must pay off your debt before transferring ownership. OP Corporate Bank plc will own the asset until you have completely repaid the loan. You can easily check your outstanding debt via OP's online financing service. See the top of the page for further details.

A financing agreement can only be transferred after OP has granted permission for this. To enable the decision-making process, you must provide information by email on the agreement transfer (such as from whom the agreement is being transferred, to whom, starting from which repayment instalment, why the agreement is being transferred etc). The loan’s terms and conditions will be checked when it is transferred. If the agreement is transferred to a newly established limited liability company, absolute guarantees are required from majority shareholders as side collateral. We charge €400.00 per agreement for each transfer. Contact our Customer Service. 

You can easily check your outstanding debt via OP's online financing service. See the top of the page for further details. After the entire loan is repaid, we’ll send you notification that the agreement has ended. At the same time, we’ll make a digital transfer notification about the registered vehicle in Traficom's service, to enable registration of the change in ownership.

You can pay off the outstanding debt on investment financing any time during the agreement period. This is subject to a charge based on the list of charges and fees valid at the time. The amount of outstanding debt and payment instructions are available from OP's online financing service. See the top of the page for further details. When the debt has been paid off in full, we’ll notify you that the agreement has ended. We’ll also make a digital transfer notification in Traficom's service to enable registration of the change in ownership.

When you have paid off your loan, we’ll send you confirmation by email or post that the agreement has ended. In addition, we’ll file an electronic transfer notification for registered vehicles with Traficom’s service, to enable registration of the change in ownership. The easiest way to register the vehicle in your own name is by doing so online at: traficom.fi/.

If the leasing agreement terms and conditions allow, you can buy the asset for yourself at the end of the leasing period. OP Corporate Bank plc will charge you the buyout price. Buyout of a leased asset is subject to a service fee specified in our list of charges and fees.

Changes to an agreement

1 January 2024

The borrower must pay any reasonable expenses incurred due to the collection of overdue amounts as laid down in the Act on the Collection of Debts, unless such measures are specifically mentioned in this sheet of service charges and fees.

If a specific service cannot be found on this sheet, a fee based on hourly rates may be charged. The hourly rate for work performed by a bank employee is €100.00.

Fees related to leasing finance are subject to the valid rate of VAT.