How to apply for interest assistance

When you apply for interest assistance you can choose to have it paid either to yourself or to the bank. Find out more about the payment of interest assistance.

1. Complete the form Application for interest assistance OT 7 (PDF). You can apply for interest assistance only for 6-month periods, either for the interest due for the first half of the year or for the second half of the year.
2. Enclose with the application documents that show your income during the 4 calendar months.

   • If you are applying for assistance for interest payments due during the first half of the year, state the income from 1 February to 31 May. If you are applying for assistance for interest payments due during the latter half of the year, state the income from 1 August to 30 November.
   • The documents must show the gross amount of income (i.e. before taxes) and the date of payment.
   • You need not provide any documents about wages, compensations and benefits that show up in the national incomes register.
3. If you are applying on your own behalf enclose receipts for the interest payments you have made and the notification costs charged by the bank, or a copy of a bank statement. A notification of direct debit is not sufficient proof of the interest paid. The documents must show the amounts of the interest and the notification costs. If you have been paying interest monthly or every three months, submit certificates for the full six-month interest payment period. No such documentation is needed if you want the interest assistance to be paid to the bank.
4. Send the application using the OmaKela e-service:

   • Save the completed form to your device. Note that the form must be in PDF format.
   • Log in to OmaKela (available in Finnish and Swedish). Select Tee hakemus (Submit an application).
   • Select Opiskelu (Studying) and then Opintolainan korkoavustus, opintolainahyvitys tai -vähennys - tee hakemus (Interest assistance, student loan compensation or tax deduction - submit an application).
   • Select the application form on your device and press Lähetä (Send).
   • When you send your application online, you do not need to sign it.
   • If you have supporting documents, send them via OmaKela after you have submitted your application. If they are paper documents, you can photograph or scan them.
     
     Another option is to send the application by mail:
      
   • Sign the application and mail it along with the supporting documents to Kela, PL 10, 00056 KELA.
5. A written decision on your application will be sent to you by post. You can also view the decision in the OmaKela e-service.

When to apply

The deadline for submitting the application depends on whether you are applying for the interest assistance to be paid to yourself or to the bank. 

Interest assistance paid to you

The following table shows when you need to submit the application to Kela:

Interest assistance paid to the bank

The following table shows when you need to submit the application to Kela:

* If the day in question is not a business day, the application must reach Kela by the previous business day.

Kela can pay the interest assistance to the bank even if you apply late. Your application must reach Kela by the final date that applies to cases where the interest assistance is to be paid to the applicant. You will have to pay any late charges yourself.

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