home loan
You should be incredibly excited about your first home
We understand how important is to be able to do all the things you want to do, hence we provide a full range of products and services to cover your needs. Choose what suits you best and make the first step to owning your dream home!
  • Fixed interest rate
    For 3,5 or 10 years
Home is the key to stability
A step closer to your housing dreams

Apply on the Hellenic Bank Mobile App
Speed up your application process
Download the Hellenic Bank Mobile App
Discover all the ways you can manage your day-to-day banking online from anywhere.
Calculate your instalment and submit your application here
Fill in according to the loan amount you are interested in. The eligibility form will then appear to start the application process.
Find out if you are eligible for a loan

The data in reference are for guidance only, should only be used for guidance and do not, in any way, constitute professional advice. The exact numbers may differ in real time from the facility being granted.

Please read carefully bellow.

Frequently Asked Questions
In case you need more information
Who is the product addressed to?
“Home Loan” is offered to individuals, permanent residents of Cyprus
For which purposes can I be financed?

“Home Loan”, is offered for the purchase, construction, renovation of primary residence.

The scheme is also offered for the transfer of an existing loan from another bank.

How can I apply?

If you are an existing customer, you can apply for a loan through the Hellenic Bank Mobile App. Alternatively you can submit your request online: use our website’s online calculator to calculate your instalment, complete the Interest Form and we will contact you.

If you would like to speak with a Bank representative, you can book an online or branch meeting through our website.

What types of documents are required?

To evaluate your application, we need from you the necessary documents for the confirmation of the below information
- Identity information
- Income information
- Contact information
- Professional activity details

For existing customers, an updated version of the above must be submitted

Additional details and information may be requested regarding

  1. The purpose and nature of your business relationship with the bank
  2. Information about your economic/ transaction profile

Regarding supporting documents verifying your income, indicatively, the following will be requested: 

Employees of the private/ public sector

  • Payslips from the last three months
  • Supporting documents for any other source of income (if applicable)

Self- employed

  • Income Tax form or Social Insurance statement or other supporting documents

Information on the property to be financed/ mortgaged

  • Title deed
  • Planning permit or relevant certificate from an architect
  • Building permit for construction or in case it is pending, an application certificate along with a declaration by a professional
  • Timetable and cost analysis signed by a professional (e.g. Quantity Surveyor, Civil Engineer)

For the property valuation, the architectural plans must be submitted.

The above supporting documents required for the assessment of your loan application are indicative and may be differentiated depending on each case. For more details please contact your Relationship officer.

What is the maximum loan amount?
The loan amount is determined based on the value of collateral. Specifically, a loan of up to 80% of the value of the main residence may be granted and the remaining 20% (own contribution) is, either paid by the customer in cash or financed by the Bank with additional mortgage on another property

It is noted that, once you submit the necessary information and after evaluation by the bank, the amount of loan that the bank considers that you can serve is determined, based on the cost of living, your income and expenses.
What is the maximum duration of the loan?
The maximum duration of the loan cannot exceed 30 years or until the customer reaches 65 years of age (whichever comes first)
What is the interest rate of the loan?

The offered interest rate is determined based on criteria evaluated and applied by Hellenic Bank and may differ in each case.

For representative examples click here.

Will my loan have a fixed or variable interest rate?

• Variable interest rate based on the Bank’s Main Base rate, plus margin. For variable rate loans the interest rate varies according to the methodology for calculating Hellenic Bank Base Rates which can be found here.

• Additionally, you can choose a fixed interest rate for the first 3, 5 or 10 years of the loan duration. During the introductory fixed rate period, you can rest assured that both your interest rate and monthly instalment will remain unchanged, unless the agreed repayment schedule is not followed. Following the lapse of the fixed interest rate period, the interest rate will be converted into variable interest rate based on the Bank’s Main Base rate, plus margin.

What is my loan’s base rate?
Loans with variable interest rate are linked to the Bank’s Main Base Rate. For loan with introductory fixed interest rate, the rate during the fixed period, is not affected by any fluctuations in the Bank's Main Base Rate.
How is my loan’s Base rate calculated?
Hellenic Bank’s base rates are based on the CBC Index. The Index is defined as the value of the interest rate applicable to the previous month’s euro-denominated deposits from households with agreed maturity up to 1 year, which is published on a monthly basis on the official CBC website. The average of the 3 last values of the CBC Index is considered the “Reference Rate”, rounded up to two decimal places. The fluctuation of the Base Rates is calculated as the difference between the value of the last two Reference Rates. Each of Hellenic Bank’s base rates will be adjusted on a quarterly basis on 16 February, 16 May, 16 August and 16 November of each calendar year (the Adjustment Dates). For more info click here.

How can I be informed about the fluctuations of Hellenic Bank's Main Base Rate?
For loans with variable interest rate which are linked to the Bank’s Base Rate, the Bank sends relative letters to inform customers, at every fluctuation of the Main Base Rate. Additionally, the values of the Bank’s Main Base Rate throughout the years are published here.

How do the ECB's decisions on the Eurozone reference interest rates affect my loan?
Loans granted linked to Hellenic Bank’s Main Base Rate are not directly affected by changes in Euribor and ECB interest rates. In case your loan was granted with a variable interest rate based on Euribor or the ECB interest rate, the changes announced by the ECB, might affect your loan’s interest rate. You can refer to your loan agreement that states which type of base rate is linked to your loan.
What collaterals are required for the granting of a housing loan?

For the granting of a loan the below are required:

  • Mortgage on primary residence
  • Assignment to the Bank of fire & earthquake insurance
  • Assignment to the Bank of life insurance

You can also use your savings as collateral and benefit from lower interest rates. 

The granting of the loan is subject to the Bank obtaining satisfactory guarantees/securities.

The Bank reserves the right to request for additional collaterals according to its lending policy at the time.

For which cases can a grace period be granted?
Grace period is granted in cases of construction of the main residence (building phase) and its duration cannot exceed 24 months.
During the grace period only the interest on the loan is paid and the capital repayments begin at the end of the period.
What happens if I repay part or the full balance of my loan earlier?

The Bank can impose charges for the early repayment of the loan or for instalments paid earlier than the agreed repayment schedule during the fixed interest rate period of the loan. No early repayment charges are imposed for loans with variable interest rate.

How can I pay my monthly instalment?
For your convenience we recommend that your monthly instalment be paid through a standing order from your account each month. Alternatively, you can pay your monthly instalment via Online banking.
What happens if I don’t pay my instalment on time?
If you delay in paying your monthly instalment, the total cost of your loan may increase, due to additional charges, as per your agreement with the bank.
If you are experiencing financial difficulties and cannot pay you instalment in accordance to the terms of your contract with the bank, please contact us as soon as possible in order to agree on a new repayment schedule that will meet your new financial conditions.
What are the types of charges/ costs that I need to be aware of?

For the granting of your loan, the Bank charges loan arrangement fees and legal documentation fees.

In addition, there are certain fees which must be paid which are regulated by law, such as:

  • Cost for the registration of the property to Land Registry Office
  • Stamps for loan documents paid to the Commissioner of Taxation
  • Property valuation fees as well as life insurance and property insurance Any bank fees are always charged based on the conditions of your contract/ agreement with the bank.

The above fees can be included in the initial loan amount, subject to loan maximum amount criteria.

Do I have a right of withdrawal?

Once you have signed the loan agreement, you have the right to withdraw as follows:

  • In case your loan is secured with mortgage, within five (5) business days from the date of execution of the loan agreement, by giving or sending relevant written notice to the Bank, unless any amount of such loan is disbursed before expiry of the abovementioned withdrawal period. 
What does Annual Percentage Rate (APR) mean?
The APR is the total cost of the loan to the customer expressed in terms of interest rate.
It is considered the best tool for comparing the actual cost of borrowing, as it includes all loan expenses (payments and expenses paid by the customer to the Bank but also to third parties, e.g. government expenses, valuation costs, insurance, etc.).
The APR helps you form a complete picture and compare with different schemes of the bank or schemes offered by other banks.
What should I be aware of if I have a foreign currency loan?
In case the loan, is a foreign currency loan, the possible exchange rate fluctuations could affect the amount payable.
Loan Warnings
WARNING: You run the risk of losing your immovable property if you do not pay your loan which is secured by mortgage on your immovable property.

WARNING: For loans with fixed interest rate, charges apply if you repay your loan earlier.

WARNING: The instalment amount and the total cost of the loan may increase or decrease, depending on the fluctuation of the base rate.

You may also be interested in