CAR LOAN

LOAN PURPOSE

  • Purchase of new or used car
INTEREST: variable from 3,60%

TERM: up to 7 years

LOAN AMOUNT: up to €50.000

FEATURES

Total interest is calculated on the basis of 6M Euribor (minimum Euribor rate 0%) or PRIME Rate.
PRIME Rate: 3.9838% (valid from 28 of May 2019).
NEW CAR

CONTRIBUTION

>40%

>30% – 40%

>20% – 30%

TOTAL INTEREST RATE

3.60%

4.10%

4.55%

USED CAR

CONTRIBUTION

>40%

>30%-40%

>20%-30%

TOTAL INTEREST RATE

4.70%

5.20%

6.10%

In the case of eco vehicle falling within the following categories:

  • Hybrid vehicle
  • Fuel flexible vehicle-FFV/dual propulsion vehicle
  • Electric vehicle
  • Vehicle emitting =<90g CO2/km)

You are awarded a €100 bonus credited to your credit card account.

Loan Amount
  • Up to €50,000
  • New Cars maximum loan amount: 80% of the car’s invoice value
  • Used Cars maximum loan amount: 75% of the car’s invoice value
Loan Term
  • Up to 7 years for new cars
  • Up to 4 years for used cars
  • Maximum car age upon repayment: 8 years
Beneficiaries
  • Individuals who are permanently resident and working in Cyprus
  • Adults older than 18 years upon the loan disbursement and younger than 70 years upon the loan repayment
Collateral
  • Pledge of the financed car
  • Personal guarantees
  • Assignment of the insurance contract of the financed car. Ethniki Insurance undertakes to insure your car at very low cost, through fast and easy procedures
Disbursement
  • One-off
Repayment
  • Equal monthly amortization instalments; the first instalment shall be due a month after the loan disbursement
Early Repayment
  • Early or partial repayment is allowed at any time, at no additional charges.

USEFUL INFORMATION

For quick evaluation of your application when visiting the branch please bring with you the following documents.
Identification Documents
  • I.D.
  • Utility Bill (CYTA, EAC etc )
Income Documentation
Salaried employees 

  • Original copies of payslips of the last two (2) months.
  • Original copy of the salary account statement of the last three (3) months.
  • Supporting documentation for any other type of income, such as from alimony, interest rates, real estate or welfare benefits (if deemed necessary for the verification of the sufficient credit standing)

Sole proprietors/ Freelancers

  • Copy of the income tax return of the last two (2) years, or
    Income certificate issued by the applicant’s accountant (if any), or
    Copy of the statement of social insurance payments of the last two (2) years
  • Copy of the statement form submitted after the date of the last annual balance sheet, if registered in the VAT registry.
  • Supporting documentation for any other type of income, such as from alimony, interest rates, real estate or welfare benefits, if deemed necessary for the verification of the sufficient credit standing
Purpose of Credit Documentation
  • Ownership title (used cars)
  • Invoice
  • Receipt of the advance payment

TERMS AND CONDITIONS APPLY

For more information and full terms and conditions, you can contact any branch of the National Bank of Greece (Cyprus) Ltd.

Our interest rates depend on your financial data and the amount of your loan and may differ from the above representative rates.

The Bank reserves the right to reject any application at its sole discretion and withdraw any plan at any time.

The interest rate and the installment of the car loan may be modified by the creditor from time to time.

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