As of today, the basic interest rate for housing loans has been reduced from 4.25% to a very competitive and very low rate of 3.50%.
Bank of Cyprus which is the largest banking institution in Cyprus offers it’s business clients the opportunity to secure a significant reduction in their existing interest as of today also. Depending on each client’s situation will determine the reduction which is expected to be up to 1% and in some cases more.
Personal and auto loans will see a reduction of the interest rate making them between 1.25% and 2.50%.
Refinancing and obtaining new loans from the Bank of Cyprus has now become even more affordable making home purchasing an even better deal for buyers.