More Information

• Who is the product addressed to?

  Physical persons, permanent residents of Cyprus who want to renovate and upgrade the energy efficiency of their privately owned residence or holiday home.

  For further information, please contact the Service Officers of our branch network online, by phone or by written application.

• What is the interest rate?
  • 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 of Cyprus Base Rate (“BCBR”).
  • It is noted that the margin based on the ECB Base Rate is currently and indicatively from 2,20% to 2,35% and the total interest rate based on the ECB Base Rate is currently and indicatively from 5,60% to 5,75%.
  • It is noted that the margin based on the BCBR is currently and indicatively from 3,20% to 3,35% and the total interest rate based on the BCBR is currently and indicatively from 4,95% to 5,10%.
  • 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 is the repayment period?

  Minimum repayment period:

  • 5 years

  Maximum repayment period:

  • 20 years in cases where changes are made to the layout of the building
  • 10 years in all other cases
• What is the maximum age limit for loan repayment?

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

• What are the necessary loan requirements?

  1. Energy upgrade certificate or written confirmation from a licensed qualified expert - a member of ETEK (Cyprus Scientific and Technical Chamber) for the energy upgrade of the property.

  or

  Proof of the relevant Government grant received.

  2. Mortgage of the property to be renovated is a mandatory collateral

   

• Is there a grace period?

  Up to 12 months on the capital.

• Is there a right of withdrawal?

  You have the right to withdraw from the agreement within 5 business days from the date of its conclusion