EFG Eurobank Ergasias has created a new mortgage loan, the ‘EuroHome European’, whose interest rate will be steadily linked to the basic interest rate of the European Central Bank (ECB). The new mortgage-lending product stands out for its low interest rate, which starts from 4.50%.
The interest rate on the ‘EuroHome European’ changes only when and as much as the official Euribor rate changes (currently standing at 2.50%), based on the interest rate policy formed by the ECB, according to its judgment. EFG Eurobank Ergasias’ clients choosing this mortgage-lending product, will be aware of the reference interest rate, through the relevant announcements made by the ECB, while they will also be receive relevant information through their loan statements. Moreover, EFG Eurobank Ergasias is reducing interest rates on certain other mortgage lending products, to go into effect as of Monday, April 7, 2003. Specifically: Eurohome-3 (fixed for three years) is reduced by 0.60 percentage points to 5.20%. Eurohome-5 (fixed for five years) is reduced by 0.40 percentage points to 5.80%Eurohome-10 (fixed for ten years) is reduced by 0.30 percentage points to 6.5%.
Finally, interest rates on mortgage loans Eurohome-1 and Eurohome-2 remain unchanged (at 3.65% and 4.90% respectively), as does the basic mortgage lending interest rate (currently at 5.50%). Interest rates on these products remain among the lowest offered today in the Greek mortgage lending market.