For the holiday home you always wanted

  • Financing amount

    Up to 70% of the value of the property

  • Interest rate option

    Choose a variable interest rate for the whole duration of the loan or fixed rate for 3, 5 or 10 years. After the end of the fixed interest period, the interest rate changes to variable.

  • Installment postponement

    In case of unforeseen events, you can postpone the payment of up to 2 monthly installments per year (24 installments during the life of your loan). The granting of the installment suspension is at the discretion of the Bank and is subject to terms and conditions.

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More information

  • Permanent residents of Cyprus only. If you are not a permanent resident of Cyprus for the last year, call in at any of our branches to find out about your options.

    • Fixed rate for 3, 5 or 10 years. After the end of the fixed interest period, the interest rate changes to variable.
    • Variable rate for the whole duration of the loan.


  • Minimum repayment period:

    10 years

    • for a variable interest rate loan
    • for a 5 or 10 years fixed interest rate loan.

    15 years

    • For a loan with 3-year fixed interest rate.

    Maximum repayment period:

    35 years

  • A borrower’s maximum age at loan maturity is 65 years

  • There is an option for grace period:

    • Up to 12 months on capital or
    • Up to 12 months on capital or on capital and interest, if the property is under construction.
  • You have the right to withdraw from the agreement within 5 working days from its conclusion.

    • Bank of Cyprus Public Company Ltd (the “Bank”) offers housing loans with variable interest rate based on the European Central Bank Base Rate (“ECB Base Rate”) and the Bank’s Housing Loans Base Rate (“BHBR”) or with fixed interest rate for 3, 5, or 10 years. In relation to loans with a fixed interest rate, following the lapse of the fixed interest rate period, the interest rate will be converted into variable interest rate based on the ECB Base Rate, plus margin.
    • It is noted that the margin based on the ECB Base Rate is currently and indicatively from 1,50% to 1,80% and the total interest rate based on the ECB Base Rate is currently and indicatively from 5,00% to 5,30%.
    • It is noted that the margin based on the BHBR is currently and indicatively from 2,95% to 3,25% and the total interest rate based on the BHBR is currently and indicatively from 3,72% to 4,02%.
    • The interest rates offered vary based on criteria evaluated and applied by the Bank in accordance with its credit policy as applicable from time to time, taking into account factors such as customers’ credit history, the collateral, the loan amount and loan duration, as well as the applicant’s contribution.
    • For more information, please contact any of the Bank’s branches.

    For indicative examples click here

  • What options are there regarding interest rates?

    For some loans you can select a floating interest rate or a fixed rate for a specific time period.

    If you select a fixed interest rate, the interest rate will remain fixed for the specified period agreed with the Bank (e.g. 5 years). It will not change under any circumstances, so your installment remains constant. At the end of the fixed interest rate period, loans are converted into variable rate loans.

    If you choose a floating rate loan, then the interest rate can be changed at any time (upward or downward). The variable interest rate consists of the base plus margin. Every time the total interest rate changes, your loan installment will also change.

    What are the initial fees?

    Some loans may bear initial fees, payable upon the granting of the loan.

    Initial bank fees

    • Arrangement fees: these relate to the Bank’s costs for preparing and evaluating your application.
    • Documentation fees: a fixed charge for the preparation of loan documents,; the charge is determined by the loan amount.

     Government fees

    These fees are regulated by law as follows:

    • Mortgage registration fees paid to the Land Registry.
    • Fees relating to stamping the loan documents and paid to the Commissioner of Taxation.
    • Fees paid to the Land Registry in cases where the transfer of property from one owner to another is necessary.


    Fees paid to third parties

    These are fees related to valuations carried out on behalf of the Bank by approved valuers for mortgaged property, or fees related to life and/or home insurance.

    Find out about all Bank fees from the Table of Commissions and Charges


    What do I need to know about loan installment payments?

    • You can provide instructions in writing, so that your installment is paid automatically from your current account.
    • You can pay your installments as determined by the terms of your loan. Please make sure to designate a date that is convenient for you. Should this date change, you need to promptly contact your personal banker.
    • Delayed installment payments incur additional costs, increasing the cost of your loan.
    • Should your financial circumstances change and you are unable to keep up with installment payments per the terms of your contract, please get in touch promptly with your personal banker in order to agree a new repayment schedule adapted to your new circumstances.


    What happens if I pay off my loan/installments early?

    Where a loan is paid off early, or installments are paid early in relation to the agreed schedule, the Bank will charge costs depending on the type of interest rate and the amount that was paid off early.

    What is the Annual Percentage Rate (APR)?

    The Annual Percentage Rate (APR) is the total cost of the loan to the consumer, expressed as an annual percentage on the loan amount. The APR includes all loan expenses paid by the client to either the Bank or to third parties (e.g. government fees, valuation expenses, insurance etc).

    The APR is considered to be the best tool as it includes all loan expenses. It helps you form a complete picture and to compare the Bank’s schemes with the schemes of other banks.


The Bank reserves the right to reject any application at its sole discretion and withdraw any plan at any time. If you do not make regular installment payments according to your loan repayment schedule, you may lose your house. There are charges for early loan repayment. In case of variable interest rates, the installment amount and total cost of the facility may increase or decrease depending on variations in the base rate.


+35722128000 from abroad
Monday to Friday, 07:45 - 18:00 Saturday and Sunday 9:00 - 17:00

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