- purchase of residence
- purchase of land to build residential premises
- construction, completion, expansion or repair of residence
The loan is disbursed in a lump sum or in instalments, depending on the progress of the works (construction, completion, expansion etc.) for which it was granted.
The loan is repaid in monthly amortization instalments on the disbursed amount. Instalment payments commence one month after the loan disbursement.
Instalments are automatically paid through a loan-linked Deposit Account designated by the borrower and held with National Bank of Greece.
Up to 40 years, on condition that the youngest party involved (borrower or guarantor), declaring personal income, will not be older than 75 years at the term of the loan.
You can adjust the loan to your needs, by choosing:
- an initial interest-only payment period for the first 1 or 2 years
- option to skip one installment per year, as of the 2nd year of the loan term.
Full or partial early repayment
You can fully or partially repay your loan without any charge.
The loan is granted subject to:
- registering a mortgage prenotation on a property of adequate collateral value, or
- with a pledge over securities
as per the Bank’s credit policy each time applicable.
The relevant cost, set out in Rates and Charges for Loans, shall be borne by the borrower.
Insuring the property
For the best possible protection of your property and in case the loan is granted subject to registering a mortgage prenotation on a property, you are required to insure your property against basic risks (fire, earthquake, breakage-fracture of pipes, theft etc.).
Ethniki Insurance undertakes to protect your property at a particularly low premium, through quick and easy procedures. Specifically, it offers:
- a minimum property coverage plan
- a minimum and additional property coverage plan
- a content coverage plan
Borrower’s / Guarantor’s life insurance
To round off the protection of your property, Ethniki Insurance will pay on your behalf any outstanding loan amount, in the event of the borrower’s (and/or guarantor’s) death as a result of unforeseen events (illness or accident), throughout the period until final repayment of your loan. The said insurance coverage, if chosen, is offered at a particularly low premium.
The above insurance coverage, if chosen, is provided with the mediation of National Bank of Greece SA, 86 Eolou,102 32 Athens, Company Reg. No.: 311481, Athens. The Bank is registered as an insurance agent with the Special Registry of the Athens Chamber of Tradesmen under No. 1028.
Rates and Charges
For more information regarding the rates and/or charges applying to your loan, click here.