Overdraft facility "Financial Support for Farmers"
The Credit Line is offered in the form of an Overdraft facility for the special purpose "Financial Support for Farmers" current account of National Bank of Greece.
A key condition for getting the overdraft facility is to provide the appropriate authority (OPEKEPE) with the particulars of this deposit account, so that the amount of the Basic and Green Financial Support for agricultural activity to which you are entitled can be paid into the account.
The Overdraft facility "Financial Support for Farmers" offers:
- Financing in order to cover specific needs related to the cost of your production, as well as specific permitted transactions.
- Option to withdraw cash up to 10% of your authorized credit line free of charge, easily, simply and quickly, by using "Agro-carta" Debit Mastercard.
- Premium floating interest rate and interest charge only for the part of the credit line and the period you use it.
Individuals entitled to the amount of the Basic and Green Financial Support for agricultural activity, who are permanently residents in Greece and declare their personal income in Greece.
Amount (credit line)
Equivalent to 80% of the Basic and Green Financial Support for agricultural activity that the farmer is entitled to each year.
The length of time until the payment of the Basic and Green Financial Support for agricultural activity (paid annually), less than a calendar year.
The credit line is paid back by crediting the amount of the Financial Support for agricultural activity into the special purpose Agricultural Support Current Account, until the principal is fully paid back.
You can also deposit any amount you wish in the meantime in order to pay back the remaining debit balance.
Interest is posted every six months, and is debited on 31st December and 30th June of each year.
Interest rate - Charges
The rate is floating and is subject to the levy under Law 128/75 amounting to 0.12% for those whose principal occupation is farming, and 0.60% for other beneficiaries. For information on the product's interest rate click here.
The Overdraft Facility "Financial Support for Farmers" is provided free of charge.
Total Annual Real Charge
CONDITIONS: In the case of an amount of €10,000 withdrawn on 1st January, to be repaid in 12 equal monthly instalments with applicable nominal annual floating interest rate, today 4.50%, the following apply:
|1st||833.33 ||4th ||833.33||7th||833.33||10th||833.33 |
|2nd||833.33 ||5th||833.33||8th||833.33||11th||833.33 |
* for those whose principal occupation is farming
** for other beneficiaries
The 6th and 12th instalments also include the interest.
Total Annual Real Charge , subject to article 19 of Joint Ministerial Decision Ζ1–699/2010 (Government Gazette B 917/23.06.2010), amounts to:
- 4.67% for those whose principal occupation is farming, subject to a 0.12% charge under Law 128/75, and
- 5.16% for other beneficiaries, subject to a 0.60% charge under Law 128/75.
Note that the said TARC rates apply only if the said assumptions apply, and serve here merely as an example.
You can submit your application for the Overdraft Facility on your "Financial Support for Farmers" current account at your account Branch.
Basic documentation required:
- valid Identity Card or Passport
- Tax clearance certificate for the previous year.
Along with the above documentation, you may be required to submit further documents, if necessary.
If your application is approved, you will be asked to visit your Branch and sign the contract. Your credit line will be available immediately after signing the contract.
Account statements sent quarterly to you free of charge via i-bank statements, if you’re already an NBG i-bank Internet Banking registered user, or alternatively, at your contact address.
- "Agro-carta" Debit Mastercard free of charge
- Option to register to i-bank Internet Banking and i-bank Pay services in order to be able to carry out the permitted transactions.