More information (Q&A)

• 1. What is the "Reward Programme for Performing Borrowers" (the "Programme")?

  Bank of Cyprus rewards the performing borrowers of housing loans with a variable interest rate based on the European Central Bank base rate or the EURIBOR rate, for loans granted prior to 30 September 2022 and which meet the criteria cited below.

• 2. Who is eligible for the Reward Programme?

  All holders of housing loans with the following characteristics are potentially eligible:

  • the loans were granted prior to 30 September 2022;
  • priced at a variable interest rate referencing the European Central Bank base rate or EURIBOR as at 30 June 2023;
  • mortgage on primary residence with an Open Market Value (OMV) up to €350,000, per the Bank's own records as at 30 June 2023;
  • the housing loan was performing as at 30 June 2023.

  In addition to the above-cited eligibility criteria, the following conditions must be met for a period of six (6) months, running from 30 June 2023 through to 31 December 2023:

  • All facilities of the borrowers are performing in accordance to the repayment schedule, without presenting any arrears;
  • Borrowers did not benefit from any other special arrangement relating to any of their facilities from 30 September 2022 up to the end of the six-month period (i.e. up until 31 December 2023).
• 3. What is the reward?

  The reward will be given in the form of free points as part of the 'Antamivi' scheme (Bank of Cyprus Cards Reward Programme).

  Beneficiaries will receive the ratio of 25,000 points per €100,000 on the average balance of the housing loan over the 6 month period from 30 June 2023 to 31 December 2023 (corresponding monetary value of €250), provided that all the terms and conditions - as cited in section 2 above - are met.

  Example

  A holder of a housing loan granted prior to September 2022, with mortgage on primary residence valued at €350,000, and where the loan as at 30 June 2023 had a balance of €95,000, and on 31 December 2023 had a balance of €85,000 (average balance: €90,000), will receive 22,500 ‘Antamivi’ points corresponding to purchases worth €225, redeemable at any merchant participating in the 'Antamivi' scheme.

  Taking part in 'Antamivi' are more than 280 merchants from all economic sectors - clothing stores, restaurants, bakeries, supermarkets, electronics, DIY stores, petrol stations, airlines, hotels and so on.

  For information on the merchants participating in 'Antamivi', see here.

• 4. How and when will the points be credited to the 'Antamivi' scheme?

  The ‘Antamivi’ points for the Programme beneficiaries’ will be automatically credited to the Borrower’s 'Antamivi' account, after the end of the six-month period (i.e. after 31 December 2023), provided that all the eligibility criteria as cited in section 2 above, are met.

  Where an eligible borrower does not hold a Bank of Cyprus card, he or she will be duly notified and will be able to obtain a Debit Card via the “Quick Hub” at Internet Banking or BOC Mobile App. The corresponding card annual membership fees will be waived for a period of 12 months. 

• 5. How will the potentially eligible borrowers for the Reward Programme be notified?

  All potentially eligible borrowers will be automatically included in the Programme, without needing to take any action, provided that they are holders of a Bank of Cyprus card. They will be notified via 1bank and mobile banking or a letter. For potentially eligible borrowers who do not have a Bank of Cyprus card, see above.

  The 'Antamivi' points will be given after the end of the six months period (i.e. after 31 December 2023), provided that all the above-cited criteria are met.

• 6. General information on the 'Antamivi' scheme

  You can find instructions on how 'Antamivi' works here.