In the light of the circumstances, created in the Greek economy and the market due to the recession, and taking into account the inability of some of its clients - individuals, professionals and small businesses to meet their loan obligations, Eurobank EFG implements special programs to facilitate those customers.
To date, the programs already implemented have benefited 57,700 clients, of which over 2,500 are unemployed.
The programs are adapted not only to the need but also to the specifics of each customer, and provide immediate and effective facilitation, as they result in significant reductions of the monthly instalment for both individual clients and for professionals and small businesses.
Especially during the current period, these programs benefit civil servants and pensioners, whose annual income is reduced due to recent measures taken by the Greek state.
Α. Mortgage Holders
Mortgage holders facing objective difficulties in servicing their loans can use the following options:
- Loan term extension by up to 10 years, with a total maximum term of 40 years (subject to the age of the borrower or guarantor).
- Payment only of interest for a period of one year
Β. Holders of Eurobank consumer loans and/or credit cards with real estate collateral
For holders of Eurobank consumer loans and/or credit cards facing objective payment difficulties, the Bank consolidates all debts into a single floating Euro-denominated loan, collateralized with the client’s property and a new term of up to 25 years. The rate is pegged to the 3-month Euribor with a margin corresponding to the rate of financing.
C. Holders of Eurobank consumer loans and/or credit cards without real estate collateral
For holders of consumer loans (amortized and/or open) and/or credit cards facing objective payment difficulties, the Bank consolidates all debts into a single new loan with a term of up to 15 years and a reduced interest rate, as appropriate for each customer, that can be as narrow as 8% for the first 2 years.
D. Professionals and Small - Medium Enterprises
Aiming to protect the liquidity of Professionals and Small Enterprises, to assist them in overcoming the currently deteriorating market conditions, the Bank provides the following programs to clients of this segment:
- Possible restructuring of loans in arrears with a significant reduction of the current instalment, by implementing programs tailored to the needs of each business.
- Suspension of the payment of instalments for up to 12 months for the industries hit hardest by the crisis
This policy of Eurobank EFG corresponds to the role and principles of corporate responsibility, responsible lending, and its sustained commitment to support its customers at all times.
Interested parties can receive information about these programs and their eligibility from the Bank’slocal branches in Greece.