-
Choose betweenSecured or Unsecured Loan
We can provide the funds for you to accomplish your professional goals and vision
- Purchase, construction, renovation of your professional workspace
- Purchase professional equipment, devices etc.
- Consolidation of existing debt
- Transfer of a loan from another Bank
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:
Self- employed
• Income Tax form or Social Insurance statement or other supporting documents
For secured loans the Bank will require information on the property to be mortgaged (Title deed, property valuation etc.)
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.
The unsecured loan is granted to customers, based on their creditworthiness and according to the bank’s internal procedures.
The Bank reserves the right to request for additional collaterals according to its lending policy at the time. The granting of the loan is subject to the Bank obtaining satisfactory guarantees/securities.
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.
In any case, the maturity of the loan cannot exceed the 65th year of age of the borrower.
The variable interest rate varies since it consists of the Hellenic Bank Main base rate plus margin. The margin remains fixed throughout the term of the loan; however the total interest rate fluctuates according to the methodology for calculating Hellenic Bank Base Rates which can be found here.
The interest rated of fixed rate loans is not affected by any fluctuations in the Bank's Main Base Rate.
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.
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.
For the granting of your loan, the Bank charges loan arrangement fees and legal documentation fees.
In addition, there are certain fees that must be paid which are regulated by law, such as (when applicable):
• Cost for the registration of the property to Land Registry Office (for secured loans)
• Stamps for loan documents paid to the Commissioner of Taxation
• Property valuation fees as well as life insurance and property insurance (for secured loans)
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.
• 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.
During the grace period only the interest on the loan is paid and capital repayments begin at the end of the period.