With the start of the new academic year, Cypriot banks are offering specialized student loans for studying on the island and abroad. The terms vary considerably: the maximum financing available ranges from €20,000 to €250,000, while repayment periods can extend up to 20 years.
Student loans can be used for much more than tuition fees. Depending on the bank, financing may also cover rent, living expenses, the purchase of a computer, books, transportation, and other education-related costs. Below is an overview of the main conditions offered by Bank of Cyprus, Eurobank Limited, Alpha Bank, and Ancoria Bank.
Bank of Cyprus: Up to €100,000
Bank of Cyprus offers two specialized products: Starter and Advance. The Starter loan is designed for parents and students and can be used to finance education from secondary school through university. Advance is intended for postgraduate studies and recognized professional qualifications in Cyprus and abroad.
Both loans are available with either variable or fixed interest rates. The variable-rate option is based on the Bank of Cyprus reference rate, which stood at 1.46% on June 17, 2026. For loans secured by a mortgage, the margin is 4.10%, resulting in a total variable rate of 5.56%. With personal guarantees, the margin increases to 7.40%, bringing the total rate to 8.86%.
Starter offers up to €20,000 without a mortgage and up to €100,000 with real estate collateral. Advance provides up to €20,000 with personal guarantees and up to €50,000 with mortgage security. The interest-only grace period lasts up to four years for Starter and up to two years for Advance, with the possibility of a two-year extension under certain conditions. Starter loans can be repaid over up to 15 years for loans of up to €50,000 and up to 20 years for larger amounts. For Advance, the repayment period extends to 12 years without a mortgage and 15 years with one.
According to the bank's examples, a €50,000 Starter loan secured by a mortgage and repaid over 15 years would require monthly payments of €410, with total repayments reaching €74,630 and an APRC of 5.96%. For Advance, a €25,000 loan over 15 years would result in monthly payments of €205, total repayments of €37,442, and an APRC of 6.05%.
Without mortgage security, a €20,000 Starter loan over 10 years would require monthly payments of €252, with total repayments amounting to €30,223 and an APRC of 9.22%. For Advance, a €15,000 loan over eight years would result in monthly payments of €219, total repayments of €20,995, and an APRC of 9.22%.
Eurobank Limited: Up to €250,000
Eurobank Limited offers the Morphosi educational loan. It is designed to cover tuition fees at universities and colleges, private schools, professional training programs, as well as language, music, dance, and sports courses. The loan can also be used to cover accommodation, living expenses, books, computers, transportation, and other personal expenses. Borrowers can obtain up to €30,000 without a mortgage and up to €250,000 with real estate collateral, depending on the property's value and the applicant's creditworthiness. An alternative option involving blocked funds is also available and provides access to lower interest rates.
Repayment periods extend up to 10 years without a mortgage and up to 15 years with one. Borrowers may also benefit from a grace period of up to five years during which only interest payments are required, while repayment of the principal begins after graduation.
The variable interest rate is linked to Eurobank's reference rate, which stood at 2.4% on June 17, 2026. For unsecured loans, the illustrative example includes a 5.5% margin, resulting in a total rate of 7.9%. With a mortgage, the margin decreases to 3.1%, producing a total rate of 5.5%. Mortgage-backed loans also offer an introductory fixed interest rate for the first three years.
For a €50,000 mortgage-backed loan over 12 years, the monthly payment would be €474, while the total repayment amount would reach €69,433, with an APRC of 6.07%. For an unsecured €10,000 loan over 10 years, the monthly payment would be €120, total repayments would amount to €14,554, and the APRC would be 8.4%. Young customers can also benefit from the My Account 18-25 package, which includes free account maintenance, a complimentary debit card, and an overdraft facility of up to €1,200.
Alpha Bank and Ancoria Bank: Two More Options for Students
Alpha Bank offers the Alpha Student Loan for studies in Cyprus and abroad. The maximum amount available is €75,000 per student. Funds may be disbursed either as a lump sum or in multiple installments. Repayment periods extend up to 15 years with a mortgage and up to 10 years without one, while the grace period can last up to three years. To qualify, the student must apply jointly with at least one parent or legal guardian.
The interest rate is calculated using the three-month Euribor plus 4.5 percentage points. On May 25, 2026, the Euribor stood at 2.195%, resulting in the bank's base rate of 6.695%. Mortgage-backed loans receive a 1% reduction, producing a final rate of 5.695%, while unsecured loans are offered at 6.695%.
For a €30,000 mortgage-backed loan over 15 years, the monthly payment would be €244.71, with total repayments of €44,684.91 and an APRC of 5.96%. Without a mortgage, a 10-year loan would require monthly payments of €339.91, with total repayments amounting to €40,889.12 and an APRC of 6.73%.
Ancoria Bank offers student loans of up to €100,000 for university and college studies. Repayment periods range from five to 15 years, while the grace period can last up to five years, during which borrowers pay interest only. Funds may be disbursed in a single payment or distributed annually throughout the course of study. The loan agreement is signed jointly by the student and one or two parents, while a first mortgage on real estate serves as the primary form of collateral. Interest rates may be linked to the three-month Euribor, the six-month Euribor, or the ECB's base rate, with a margin of 2.75%. Based on rates recorded on July 27, 2026, the resulting interest rates were 5.063%, 5.292%, and 5.150%, respectively.
For a €50,000 loan over 15 years linked to the three-month Euribor, the monthly payment would be €397, with total repayments of €71,491 and an APRC of 5.34%. With the six-month Euribor, the monthly payment would increase to €403, total repayments would reach €72,573, and the APRC would be 5.58%. Under the ECB-linked option, the monthly payment would be €399, with total repayments of €71,901 and an APRC of 5.43%.
Ultimately, choosing a student loan in Cyprus depends not only on the maximum amount available but also on the need for collateral, the length of the grace period, and the affordability of monthly payments after graduation. Since most of these loans carry variable interest rates, it is important to consider how future changes in borrowing costs may affect the total cost of the loan.