Hellenic Bank: Leading Housing Scheme with fluctuating interest rate of 4%
Date of Publication: 21/05/09
A new Housing Scheme with an attractive interest rate for young couples and families, was announced at the 35th annual general meeting of the Hellenic Bank, by the Senior Executive Manager Mr. Makis Keravnos. This new Housing Loan is available to permanent residents of Cyprus acquiring their first home, at an exceptionally low interest rate of 3 month Euribor + 2,75%, which at todays rates (20/05/09) is equal to 3,99% or SEPE 4,15%.
In addition to the low interest rates the scheme offers the following benefits:
• Grace period of 1 year, or until the completion of the property, up to maximum of 2 years
• Long repayment period of up to 40 years
• Attractive insurance package from the Pancyprian Insurance with free home insurance for one year.
Also, the deposit amount required is only 30%. In the instance where the client increases his deposit to 40%, the interest rate will fall by 0.25%, minimizing the total interest rate to 3.74% (20/05/09).
Source: www.stockwatch.com.cy
