ASP – affordable first home loan for ASP savers

Who can open an ASP account?

You can open an ASP account if

• you are over the age of 15
• you have not previously bought a home of which you own at least half. A home or share of a home acquired as a gift or inheritance does not prevent you from opening an ASP account.

Please note that 15–17-year-olds can only save funds in the ASP account that they have acquired through their own work or that they otherwise have control.

How to open an ASP account

1. Send us a message in Mobile Bank or eBanking telling us that you would like to open an ASP account.
   
   
2. Sign the ASP account agreement in eBanking as instructed by our customer service.
   
   
3. Make a first deposit of at least €50 in your ASP account when you open it.
   
   
4. Continue saving at a pace and amount that suits you.

If you are a minor or are opening an ASP account with someone else, you will need to book an appointment at a branch by calling our customer service.

You can choose whether your ASP loan is protected by the state interest subsidy or the bank’s interest rate protection product

One of the benefits of an ASP loan is the interest subsidy paid by the state for the first ten years of the loan. However, you can, if you wish, choose the bank’s interest rate protection product, such as an interest rate collar, for your ASP loan instead of an interest subsidy. In this case, you will not be paid a state interest subsidy for your loan, but you will continue to receive all the other benefits of an ASP loan, such as a free state guarantee and added interest.

If you choose the bank's interest rate protection for your loan, you will no longer be able to use the state interest subsidy later. Likewise, if you take advantage of the state interest subsidy, you cannot add the bank's interest rate protection to the loan while the interest subsidy is in force. After the state interest subsidy period ends, you can, if you wish, apply for the bank's interest rate protection for the loan.

Maximum amount of the interest-subsidy ASP loan depends on where you buy your home

If you opt for interest subsidy provided by the state for your ASP loan, the maximum amount of the interest-subsidy loan depends on where you buy your home and the number of ASP loan applicants. If you need a bigger loan than this, in addition to the ASP loan, you can apply for an additional loan i.e. ordinary housing loan.

Maximum amount of interest-subsidy loan for one applicant:

• Espoo, Helsinki, Kauniainen, Oulu, Tampere, Turku, Vantaa: €230,000
• Rest of Finland: €160,000

Maximum amount of interest-subsidy loan when there are two ASP loan applicants:

• Espoo, Helsinki, Kauniainen, Oulu, Tampere, Turku, Vantaa: €345,000
• Rest of Finland: €240,000

If you chose the bank’s interest rate protection product instead of the state interest subsidy for your ASP loan, the maximum amounts referred to above do not apply.

Prices and terms and conditions

• You must make your first deposit in your ASP account when you open the account.
• Interest of 1% is paid on the deposit and added to the capital in the ASP account at the end of each calendar year. In addition to this, the account accrues added interest of 4%, which is paid for the year of opening the account and for a maximum of five following years. The added interest is paid when the saver has met the terms and conditions of the ASP agreement and have taken out the ASP loan. Added interest is paid on the part of the deposit that corresponds to 10% of the purchase or acquisition price of the home.
• Interest on the ASP account is calculated daily on the final balance of the account. The interest rate is calculated according to the actual days.
• You will receive tax-exempt deposit interest and added interest when you save in an ASP account in accordance with the terms and conditions and take out a loan for the purchase of your first home. The added interest is also paid where the ASP saver takes out an ordinary housing loan instead of an ASP loan if the terms and conditions of the ASP account are met. If the ASP account is closed for a reason other than the purchase of a first-time home, tax at source will be withheld on the interest paid into the ASP account. Tax at source is calculated on the annual deposit interest and is charged retroactively for all savings years. The added interest is always paid by the bank granting the loan, regardless of the bank with which the ASP account was opened.
• When applying for an ASP loan, you must have saved 50–1,500/month in your ASP account for at least 20 months and the deposits, interest and added interest must amount to a least 10% of the purchase or acquisition price of the home.
• You can open an ASP account alone or together with co-saver. Another saver can be added to the ASP account at a later date. It is also possible to combine existing ASP accounts with another person later before buying a shared home.

• Service price list for housing loans
• General terms and conditions of lending
• European standardised information sheet (ESIS)

This is not an offer from the bank. Loan terms and conditions are agreed personally. Eligibility for a loan requires a positive credit decision. Danske Bank checks the customer’s credit report with Suomen Asiakastieto Oy and the Positive credit register when making the credit decision.

Example housing loan: If the customer takes a housing loan of €170 000 where the loan term is 25 years and the reference rate for the loan is the 12-month Euribor, the total interest rate of the loan would be 3.361 % (3.500 % Average Percentage Rate calculated according to the Consumer Protection Act). The total amount of the credit and other credit expenses is €254,714.01, including the origination fee of €1,020 and an automatic account debiting charge of €2.70/payment. The number of payments is 300. The monthly instalment would be €845.66, including also the automatic account debiting charge of €2.7/payment. The example has been calculated based on interest information valid on 01.06.2026.