Loan installment and interest suspension based on the Decree issued by the Ministry of Finance on 15/1/2021 - COVID-19
Our Bank responding to the adverse conditions due to the Covid-19 pandemic and based on the Decree *1
issued by the Ministry of Finance on 15 January 2021, under which the obligation to pay installments on credit facilities granted by financial institutions, including the relevant interest, is suspended for a period of 6 months (1/1/2021-30/6/2021) for Beneficiaries *2
, would like to inform you of the following:
Enforcement of Emergency Measures by Financial Institutions and Supervisory Authorities (Suspension of Instalments for Specific Beneficiaries) Decree of 2021
*2 Beneficiaries are the following:
1. Physical persons/ small and medium-sized legal enterprises that maintain credit facilities, regardless of the purpose, with a mortgage over the primary residence, the market value of which does not exceed the amount of €350.000.
2. Companies / self-employed persons who maintain credit facilities for business purposes and whose operations are subject to mandatory suspension in accordance with the Decree issued by the Minister of Health under the Infectious Diseases Law (CAP. 260) on 8 January 2021 (R.A.A. 6/2021). A confirmation from the auditor/accountant of the business that it is under mandatory suspension of operations is also required.
3. Hotel industry legal entities, which are governed by the Law on the Establishment and Operation of Hotels and Tourist Accommodations, that maintain credit facilities for business purposes.
It is clarified that customers who are experiencing financial difficulties as a result of the effects of the COVID-19 pandemic can apply, provided that they have not fully benefited from the suspension of installments for a total period of nine (9) months, including interest, on their credit facilities, for the period 30 March 2020 and 31 December 2020 and provided that their credit facilities didn’t present arrears in the payment of the installment of more than 30 days from the date provided in the specific credit facility, on 31 December 2020. In the case which the credit facility presented arrears in the payment of the installments of more than 30 days on 31 December 2020, then exceptionally they would be able to apply, provided that the total amount in arrears at Bank level do not exceed the amount of €100 for retail banking loans and the amount of €500 for business loans. It is also noted that credit facilities, for which the relevant documents were signed after 30 March 2020, are excluded.
Please note that the deadline for the submission of applications is the 31st of January 2021 and that applications for suspensions of installments should be sent to the email/ fax that corresponds to the responsible or by mail, as follows:
The mailing address to which you can send your applications is Eurobank Cyprus Ltd, P.O.Box 27236, 1643 Nicosia, Cyprus. All applications should be sent to the attention of the respective responsible Unit.
to view the relevant Decree (available only in Greek).
for the relevant application
GDPR Loan Installment Suspension