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14 Giugno 2024



Eurobank Cyprus on Wednesday announced that it will soon proceed with the culmination of an initiative to support and reward its up-to-date mortgage customers by reducing the final interest rate on home loans by 50 basis points.  The original announcement of this initiative was made in May 2023, targeting private borrowers who have maintained good standing with their mortgage repayments.  According to the bank, the primary aim of this initiative is to “assist Cypriot households during a period of high lending rates, demonstrating Eurobank Cyprus’ ongoing commitment to taking proactive steps in challenging economic times”.  The announcement also mentioned that “approximately 1,400 individual customers of the bank have benefitted from this scheme”.  The plan came into effect on June 1, 2023, and concluded on May 31, 2024. It automatically includes all individual borrowers with serviced home loans for the purchase or construction of a first residence.  These loans, the bank explained, are priced with a variable interest rate linked either directly or indirectly, (through the bank’s base rates), to the Euribor, regardless of the market value of the first residence.  It should be noted that Euribor refers to the Euro Interbank Offered Rate, meaning the interest rate at which credit institutions lend money to each other.  “In the coming days, the bank will deposit the corresponding amounts into the current accounts of all affected customers, bearing the substantial cost of this measure entirely,” Eurobank stated.  “Eurobank Cyprus remains dedicated to the ongoing support of its customers and the Cypriot economy at large,” the announcement concluded. (ICE BEIRUT)

Fonte notizia: Cyprus Mail