ASP account

Saving into an ASP account is a cost-effective way of financing your own home. When you save at least 10% of the price of your home, we will lend you the rest. You can open an ASP Account if you are between 15 and 39 years of age. Persons between 15 and 17 years of age may only deposit income from work.

Your benefits

  • In addition to the annual 1% tax-free deposit interest, Nordea pays 4% of additional interest on ASP account for the account opening year and the next five years as of 1 September 2009.
  • The single amounts not necessarily have to be very big and you do not have to make deposit in your ASP-account every month.
  • Interest on the interest-subsidised ASP loan is lower than on corresponding new housing loans.
  • If the loan interest rate rises over 3.8%, the state pays part of the loan interest as interest subsidy during the first ten loan years.
  • You can take out an inexpensive ASP loan from Nordea even if your ASP account is in some other bank.

Determination of interest

The bank pays 1 % annual interest on your savings. The bank pays interest from the deposit date to the withdrawal date, excluding the withdrawal date.

Determination of additional interest

The bank pays 4 % additional interest on your savings.  Additional interest is paid on the year you open the account and the next five years. The additional interest is paid once you have bought your home.

Additional interest is paid from the deposit date of each deposit amount until the first drawdown without adding the additional interest annually to the principal. Additional interest is paid when the account holder fulfils the terms and conditions of the home saving agreement and purchases a home or when the account holder has completed the construction of a house and the building inspection authority has carried out the final inspection. Another requirement for the payment of the additional interest is that the customer takes out an ASP loan or a housing loan.

Taxation

Interest paid on an ASP account is tax-free, if customer buys a home and terms are fulfilled.

ASP saving

After opening an ASP Account, you can start saving effortlessly. You can start ASP saving at a young age and move in your own home swiftly. The minimum ASP saving period is two years, but you can also save longer according to a schedule that suits you best.

A minor saver must provide an account of the deposits they have made to the ASP account at least once a year. You can use a formOpens new window drafted by the State Treasury or a report on your taxable income issued by the tax office to provide your account of the deposits. In Nordea OmapostiOpens new window you can send encrypted messages and attached files to Nordea. 

You can decide how much you will save and you don't need to make a deposit every month, but you need to make quarterly deposits of 150–3,000 euros in an ASP Account. The deposits do not have to be successive if you make at least eight deposits.

More information

State TreasuryOpens new window

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