ASP loan

The biggest expenses in a home loan consist of the loan margin you have negotiated and the reference rate chosen, such as the 12-month Euribor. However, a home loan often includes other smaller expenses, including an initial opening fee or repayment fees. The total of all these costs is expressed through the annual percentage rate of charge (APR). 

Read more about home loan interest

Example of an ASP loan and the annual percentage rate of charge (APR)

You may be granted an ASP loan after saving for a minimum period of eight calendar quarters in your ASP account by making deposits between 150 and 4,500 euros in each of those quarters. The maximum amount you can borrow is 9 times your ASP savings, but no more than 90% of the purchase price of your home. In addition, the municipality where the home is located affects the amount of the interest-subsidised ASP loan.

Example of an ASP loan:

You take out a loan of 120,000 euros. The loan period is 24 years and the interest rate is 4.10% (April 2024). The APR is 4.3%, including an opening fee of 480 euros and a monthly fee of 2.50 euros for the automatic debiting of loan payments. The number of payments is 288. The total amount of the loan and loan costs is 190,863 euros. The monthly payment (annuity) is 658 euros.

The amount of the loan, the loan period and the interest are a representative example for ASP loans offered by Nordea. The example, however, is only indicative and has been calculated using certain assumptions. This example of an ASP loan does not necessarily correspond to the actual APR charged on the loan granted to you. The example does not account for any interest subsidy paid by the state.

You can check the fees and prices of our home loans from our tariff below.

Common fees on home loans

Charges related to unsecured home loans drawn down after 1 September 2019

Terms and conditions of the loanOpens new window

Terms and conditions of pledgeOpens new window

Terms and conditions of guaranteeOpens new window

Information for the pledgerOpens new window

Information for the guarantor Opens new window

Consumers are not granted loans in any other currency than euro.

A housing loan is considered to be currency credit if the loan is granted in a foreign currency other than that of the EU Members State or the state of belonging to the European Economic Area where the consumer resides. Furthermore, a housing loan is considered to be foreign currency credit if the consumer receives his or her income in another currency of a state of the European Economic Area or in currency of a state of European Economic Area. 

A foreign exchange risk occurs when the borrower's income or assets to be used to repay the credit are not in the same currency as the credit or the credit is not in the currency of borrower's country of residence. A foreign exchange risk refers to the change in price of one currency in relation to another. During the loan period, the value of the credit or the monthly payment may increase in relation to the borrower's income or assets or the currency of the borrower's country of residence. 

If the foreign currency of the borrower's country of residence, income or assets falls by 20 per cent in relation to the euro, the borrower receives a warning that the borrower's loan amount will increase in borrower's national currency.

Key changes:

• The upper age limit for concluding an ASP saving agreement was increased from 39 to 44 years.
• Buying a shared home was made easier: using two ASP accounts to buy a shared home increases the amount of the interest-subsidised loan by 50%, provided that both buyers use their personal ASP savings to pay for the home. The increase applies to the maximum amounts of interest-subsidised loans that are specific to each region.
• The maximum amount of the state guarantee increased to 60,000 euros (from 50,000 euros).

Read more about the ASP scheme on the State Treasury’s website.Opens new window