The repayment term depends on the amount you borrow.  

• for sums up to €80,000 the duration is 1 – 15 years 
• for sums over €80,000 the duration is 1 – 20 years 

provided that the youngest person participating in the loan and having a personal income must not be over 75 years at the end of the loan's term. 

Yes, insurance coverage is required to protect your financed property against basic risks, such as fire and earthquake, pipe fracture/cracking, burglary, etc.  

You can choose any insurance company you want. Ethniki Insurance can undertake to protect your property at a particularly low premium, through quick and easy procedures. Specifically, you can have: 

• a minimum property coverage plan 
• a minimum and additional property coverage plan
• a content coverage plan. 

You can also opt, optionally, for borrower's Life insurance with a low premium from Ethniki Insurance, to ensure the repayment of the loan in case of unforeseen events (death due to illness or accident), without this being in any way mandatory. 

Terms and conditions apply. The said insurance coverage offered through Ethniki Insurance, if chosen, is provided with the mediation of National Bank of Greece SA, Aiolou 86,10559, Athens, GEMI No 237901000, Company Reg. No.: 311481. The distribution of the insurance programs is carried out only by the Bank’s officials who are certified insurance intermediaries. The Bank is registered as an insurance agent with the Special Registry of the Athens Chamber of Tradesmen under No. 1028. The Special Registry’s data are available through the online platform “Single Information Point (SIP) for Active Insurance Intermediaries”, via which you can verify the registration with the Special Registry.

After final approval, the following steps are:  

• Signing the loan contract 
  
  To sign the loan contract, you come to your NBG branch.   
  
  At this point, you need to insure the property, while you can also ask to get a privileged EXPRESS Loan if you want to cover increased costs or urgent needs.

• Collateral for the loan 
  
  After the loan contract is signed, it's time to pay the mortgage prenotation expenses and initiate all relevant actions. We are doing our best to relieve you of unnecessary stress and painful procedures, so an NBG associate lawyer undertakes to arrange the mortgage prenotation and obtain all relevant certification upon completing the process.

• Loan disbursement 
  
  As soon as all formal procedures are concluded, we'll get in touch with you so you can notify us of the date you would like the loan to be disbursed to your account. If you're taking out the loan for construction/completion or repairs, the subsequent loan amount is disbursed through partial disbursements, in line with the progress of your project. After the first payment, an engineer in contract with the Bank will monitor the progress of the construction works before every subsequent payment. 
  
  Remember that you pay by monthly amortization installments, starting one month after the loan disbursement.