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Piraeus Bank decreased interest rate on credit card to the minimum in the Ukrainian market – 1.99% per month
16 September 2013

Kyiv, Piraeus Bank offers to individuals credit cards with a unique in the Ukrainian market interest rate – 1.99% per month (23.88% per annum) during the period from 5th September to 5th December states the bank’s press service with reference to Retail banking department.

According to information from the Piraeus Bank’s Retail banking department interest rates are charged at the rate1.99% per month on actually used amount of credit limit after the grace period regardless of card’s type – Visa Gold or Visa Classic. The term of grace period reaches 51-day during which interest rate equals 0.0001% per annum. After the grace period the client may repay the full amount of the debt or the minimum payment at the rate of 10% of the debt in order to proceed using loyal interest rate.

Ilias Mouzakis, Piraeus Bank in Ukraine Retail banking director: "Credit card allows customers to use additional funds any time they need, without spending time to visit bank’s branch or fill the documents for receiving loan"

"Credit card allows customers to use additional funds any time they need, without spending time to visit bank’s branch or fill the documents for receiving loan, etc. In this case unlike the other types of loans, the credit card allows to use money for free almost for two months. And at the end of this period the interest rate on the loan will be calculated with a unique for Ukrainian market level, really lower interest rate", – the Retail banking director, Ilias Mouzakis said.

Required term for receiving credit card with a lower interest rate is the borrower’s official income above UAH 5 000 per month.

For the borrower with lower official income Piraeus Bank significantly liberalized terms for credit cards issue and usage. Namely – reduced the required size for the borrower's income: from UAH 2 000 up to UAH 900 and decreased the customers’ age limits: now the minimum age for the borrower may be 22 years and maximum – 65 years.

Interest rate for using credit card for payments in the sales and service networks or Internet during 51-day of grace period equals to 0.0001% per annum. Whereas after the grace period interest rates are accrued on actually used amount of credit limit according to the following rates: from 30% per annum for Visa Classic card and from 28% per annum for Visa Gold.

What is more, for all types of borrowers the bank increased the maximum loan limit on card, which can be provided for the credit card – from UAH 35 000 to UAH 50 000.

Repayment of loan may be done by any convenient for the customer way: by cash money at the bank branch, via internet banking system winbank, as well as wire transfer from any other Piraeus Bank accounts or accounts of other banks.

Piraeus Bank also provides the balance inquiry information for credit card holders for free (via online banking system winbank, Piraeus Bank information line or by SMS-informing).

For detailed information about credit card please phone the call centre: 0 800 30 888 0 (calls from stationary phones within Ukraine are free of charge), visit the Bank branch or official web-site

Note. Piraeus Bank Group is one of the major banking institutions of Southern and Eastern Europe. Piraeus Group's pro-forma total assets amount to €95 bn, net loans to €63 bn and customer deposits to €55 bn (at the end of June 2013).

Piraeus Bank entered the Ukrainian market in 2007.

Piraeus Bank has the highest rating of deposits reliability provided by "Credit-Rating" Agency (grade "5"as of latest rating of 30.08.2013).

The Bank is authorized by the Pension Fund of Ukraine to make payments of pensions and financial assistance. The Bank is a member of Fund of Guaranteeing the Deposits of Individuals and Forum of Leading International Financial institutions (FLIFI).

Piraeus Bank in Ukraine Press Service
tel: +38(044)495-88-88