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Thursday, May 23, 2024

National Bank also has a borrower reward plan

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Eligible customers will automatically join the Reward Program and will be notified individually

Με σχèδιο ανταμοιβorς δαν&epsilon ;ιοληπτoν και η Εθνικor ΤρΑπεζα

The National Bank of Greece (Cyprus) is proceeding with a borrower reward plan for mortgage holders.

As the relevant announcement states, “The National Bank of Greece (Cyprus), recognizing the efforts of its customers to respond to the market challenges of recent years and at the same time implementing its promise of practical support, has designed targeted for its customers mortgage holders , the “Loan Mortgage Customer Rewards Program” (“Rewards Program”)”.

The Rewards Program:

• Provided to Private Customers with mortgage loans for owner-occupancy which were in service on 31/05/2023 and which bear a floating interest rate linked to Euribor or SONIA or to the Base Rate of the European Central Bank (“reference rate”).

• Returns to eligible customers after 12 months from 01/06/2023, in the form of “Cash-Back”, the amount resulting from the difference of any increase in the reference interest rate of the aforementioned loans based on its accounting 31/05/2023 in relation to the current price of the reference interest rate at the end of each month and until 31/05/2024, thus providing protection against any increases until 31/05/2024.

• It has as basic condition for the payment of the above amount, the seamless repayment of the aforementioned loans without delays in their agreed installments for all 12 months of the duration of the Program.

It is noted that eligible customers will automatically join the Reward Program while they will be updated individually.

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Source: www.kathimerini.com.cy

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