Hellenic Bank announced on Wednesday 11th December that it has started accepting applications for a new mortgage loan on favourable terms for its customers.
According to the release, residents of the island nation will have the opportunity to obtain a home loan with a fixed interest rate of 2.95% for the first three years or 3.1% for the first five years.
According to the bank, the new mortgage product is being introduced as part of the innovative My Home Rewards programme and offers the opportunity to purchase a home on affordable financial terms. Hellenic Bank's special offer is available until 31 March 2025.
Our main objective is to offer options that help people buy their own home on more favourable terms. In this way, we aim to support the Cypriot society. Hellenic Bank is constantly striving to offer innovative and affordable financial products that meet the needs of its customers," said Stefanos Kassianides, Senior General Manager of Hellenic Bank.
It is worth mentioning that Hellenic Bank recently reduced its base rate by 0.21% to 1.91%. This initiative has had a positive impact on more than 90,000 borrowers, contributing in practice to a better management of borrowing costs for households and businesses and, as a consequence, to the stimulation of economic growth.
As a reminder, Hellenic Bank started its operations in 1976 with the opening of its first branch in Nicosia.
In 1985, a subsidiary, Hellenic Bank (Finance) Ltd, was established, specialising in asset finance. A year later, another subsidiary, Hellenic Bank (Investments) Ltd, was established to provide investment services. In 1990, the bank opened its first International Business Centre and in 1996, it acquired Barclays Bank's branch network in Cyprus.
In 1998, Hellenic Bank opened its first branch in Greece and at the same time opened representative offices in Russia and South Africa. In the following years, the bank developed actively: the branch network was expanded, new offices were opened and the organisational structure of the group was improved. Today, Hellenic Bank has more than 80 branches and manages 5 international business centres, ensuring its presence not only in Europe, but also beyond.