30 August 2006

University-School loans from the Greek Postal Savings Bank

Dedicated to its policy of offering Consumer Loans with particularly low interest rates and expenses the Greek Postal Savings Bank continues to offer University - School Loans with the following features:

a. Starting Monday 4 September, a Student Loan will be available, «School Extra» with a beneficial adjustable interest rate – the lowest in the market – of 6,15% (plus the 0,60% charge in accordance with Law 128/75), which lasts up to 72 months and the loan amount ranges from 1.000 € to 3.000 €.

The programme offers parents the opportunity to cover the financial expenditure for the educational needs of their underage offspring (at Primary School, Secondary School and High School), for education, school fees, tutorial fees, learning foreign languages and school equipment.

This product is made available with the lowest expenses on the market, by payment of 30 € at the time of application, in order to cover expenses of investigating and evaluating the customer and 20 € at the time of withdrawal.

There are no additional expenses and no charge exists for early repayment.

b. Moreover, starting Monday 4 September a «University Extra - Postgraduate Extra» loan will be made available, with the lowest interest rates and expenses on the market.

The product is made available with the beneficial adjustable interest rate of 6,15% (plus the 0,60% charge in accordance with Law 128/75), for up to 72 months and the loan amount ranges from 1.000 € to 10.000 € (for Undergraduate) and from 1.000 € to 25.000 € (for Postgraduate).

The purpose of this loan is to cover a student’s financial needs for university fees, rental expenses and the purchase of educational materials or household goods.

Applicants for the loan should be are newly matriculated students who successfully completed the Panhellenic Examinations, as well as those who are already students at a public university or technical educational institute, students at private colleges in Greece, with a minimum 3-year course of studies, as well as all those who are studying or are about to study at a University abroad.

The Student is the Borrower and the parent acts as guarantor, and the latter’s credit history is examined. Should the loan be approved, the student is also issued with a Credit Card with a credit limit of 1.000 € with no annual fee for 3 years.

This product is made available with the lowest expenses on the market, by payment of 30 € at the time of application, in order to cover expenses of investigating and evaluating the customer and 20 € at the time of withdrawal.

There are no additional expenses and no penalty for early repayment.

Furthermore, the Greek Postal Savings Bank continues its social policy to of rewarding top students (those matriculating and those in study programmes) with a 1% subsidy decreasing the interest rate, i.e. the borrower will pay an annual interest rate of 5,15% instead of 6,15%.

To be specific, for those newly matriculating in a department of a public University (University or Technical Educational Institution) the top 10 entrants to each department will have the right to this subsidy. The same is also in effect for those already studying who have a grade point average for the past semesters that is higher than 7.5 out of 10.0.