15 December 2006New Mortgage Interest Rates from the Greek Postal Savings BankDespite the fact that on 13.12.2006 the European Central Bank (ECB) raised its key interest rate by 0,25%, for the sixth time in the last 12 months, the Greek Postal Savings Bank, continuing to provide service to the community and its successful presence in the Mortgage sector:
- Will cut by 0,25% the margin on new adjustable interest rate subsidised loans, irrespective of the loan amount.
- Is leaving unchanged the exceptionally low adjustable interest rates to special category clients (those with large families, the handicapped etc.).
- Is also leaving unchanged all the exceptionally competitive fixed interest rates (for 1-year, 3-year, 5-year, 10-year and 15-year loans).
Moreover, the Greek Postal Savings Bank continues to provide loans financing up to 100% of the value of a property, without any additional charge being made on the interest rates, while, at the same time, borrowers are exempt from paying legal and engineer’s fees until the 31.12.2006.
The Bank Administration proceeded to make these important decisions wanting, on the one hand, to protect its customer base from future interest rate increases set by the European Central Bank (ECB) and, on the other hand, not to worsen the situation for socially sensitive groups of amongst its customers.
Starting on Wednesday 13/12/2006 the Greek Postal Savings Bank base interest rates for new Home Loans and transfers of Home Loans were formulated as follows*:
Adjustable Rate EXTRA EUROHOME 2 – "IT’S MINE" (for amounts starting at €100.000)
(ECB + margin 0,70% fixed for 3 years) |
4,20% |
Adjustable Rate EXTRA EUROHOME 1 – "IT’S MINE" (for amounts starting at €100.000)
(ECB + margin 0,95% fixed for 3 years) |
4,45% |
| Adjustable Rate for Subsidised Loans (Subsidised by the Greek Workers’ Housing Organisation and the Greek State) |
4,88% |
| Adjustable Rate for Those with Large Families and the Handicapped |
(unchanged) |
4,00% |
| Adjustable rate for inhabitants of border regions |
(unchanged) |
4,25% |
| Fixed for 1 year – "FIXED 1" |
(unchanged) |
3,95% |
| Fixed for 3 years – "FIXED 3" |
(unchanged) |
4,25% |
| Fixed for 5 years – "FIXED 5" |
(unchanged) |
4,45% |
| Fixed for 10 years – "FIXED 10" |
(unchanged) |
5,00% |
| Fixed for 15 years – "FIXED 15" |
(unchanged) |
5,35% |
Greek Postal Savings Bank customers will continue to enjoy the lowest monthly payments on the market for their Home Loans (e.g. for a €100.000 with a fixed interest rate for 1 year, the monthly payment of interest alone is € 339,17, while repayment of capital and interest is € 422,30).
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