04 October, 2005

New programme “My Advantage” (“Me simferi”)

The challenges facing Greeks in keeping pace with current economic conditions, have led the Greek Postal Savings Bank to Provide a new comprehensive consumer loan programme with remarkably advantageous terms and characteristics, either for consolidating all loan and card debts in one single loan, or for funding future needs. More precisely:

The new programme "My Advantage” (“Me Simferi”) is provided with beneficial interest rate 4,90%, reimbursement period from 3 to 30 years and €10.000 minimum loan amount, secured by property. For example, for a €10.000 loan with 30 years reimbursement period and 5,50% final interest rate, the monthly instalment is set to €56,8. Technical and legal control fees are set to €300 and the charges for account management and maintenance will be €20 per year.

In case there is no property as guarantee, the loan is provided with fixed interest rate 5,40% for the first year which will be changed to floating, today 6,90%, from the second year, with a reimbursement period of 12 to 72 months, loan amount from €3.000 to €40.000 and €80 total loan expenses.

The programme “My Advantage” (“Me Simferi”) provides customers with the opportunity to consolidate all their banking duties in one long-term loan with an interest rate about 2-3 times average lower than all current short-term consumer loans or credit cards, either for obtaining up to 3 times higher loan amount by paying the same monthly instalment, or for paying a third of the monthly instalments they used to pay for their other loans or cards for the same loan amount.

The Greek Postal Savings Bank does not claim any charges for early reimbursement. Interest rates are subject to the 0,60% charge by L.128/75 and are associated with the basic interest rate of the European Central Bank.