01 September, 2005

Three new products launched by the Greek Postal Savings Bank for educational expenses coverage

Three new products with remarkably low interest rates are launched by the Greek Postal Savings Bank to cover educational needs. The first one is a consumer loan that offers the opportunity for parents to cover the expenses of the educational needs of their underage children, while the other two are addressed to students, aiming at financially facilitating them.

With these 3 products, the Greek Postal Savings Bank continues its policy of providing low-interest rate consumer loans with highly competitive terms.

A) “School Extra” loan

The “School Extra” loan is provided from Monday 5th September 2005 with beneficial floating interest rate 5,9% (the market’s lowest) for the whole reimbursement period that reaches up to 72 monthly instalments. This certain product is applicable for parents wishing to cover their underage children’s educational expenses (Elementary School, Junior High and High School students) for tuition fees, tutorials, foreign languages apprenticeship and school equipment. The loan amount can be from €1.000 to €3.000.

B) “University Extra” loan

From Monday 5th September it is also available the “University Extra” loan, aiming at covering students’ financial needs for tuition fees, home renting and household or educational equipment purchase.

This product is provided with beneficial floating interest rate 5,9% for the whole reimbursement period that reaches up to 72 monthly instalments. The loan amount can be from €1.000 to €10.000.

Applicants can be 1st year students who succeeded in Panhellenic entrance examination, as well as already existing Greek University students, domestic private college students of 3-year course at least and already existing or perspective students of Universities abroad.

The student is named loanee with a parent as guarantor, whose financial worthiness is examined. If the loan is approved, a Credit Card will be issued to the student with €1000 credit line and free registration for 3 years.

C) “Postgraduate Extra” loan

The “Postgraduate Extra” loan is also available since Monday 5th September, aiming at covering the financial needs of the students attending postgraduate courses. This loan is provided with floating interest rate 5,9% for the whole reimbursement period that reaches up to 72 monthly instalments. The loan amount can be from €1.000 to €25.000.

The student is named loanee with a parent as guarantor, whose credit worthiness will be examined. If the loan is approved, a Credit Card will be issued to the student with €1000 credit line and free registration for 3 years.

Rewarding the outstanding

It is worthwhile to mention that the Greek Postal Savings Bank continues its socially orientated policy by rewarding outstanding students (newcomers and already exisiting) with one per cent reduce of the interest rate provided. This means that students with distinguished marks will reimburse their loan with 4,9% interest rate instead of 5,9%.

This benefit is given to the 10 highest-graded new students who enter any Greek State University School, as well as to the already existing students who obtain an average mark over 7,5 / 10 during their most recent academic semesters.

These 3 above products are serviced with the market’s lowest expenses, by paying €30 while applying (charge for researching and validating the request) and €20 while funding, plus the interest rate 0,6% charge by l. 128/75. There are no additional charges in any case, even if there is earlier reimbursement by the customer.

For more information, please contact us on tel.: +30 210-3704860 and +30 210-3704861.