Kiev, Piraeus Bank decreased its mortgage loans’ interest rates for private individuals by more than 2 p.p., states the press service of the Bank with reference to the Retail Banking Department of the Bank.
According to the Retail Banking department information, the minimum interest rate on mortgage loans amounts to 16% p.a. This interest rate is offered for loans which are provided by Piraeus Bank in cooperation with the State Mortgage Agency for a property purchase by private individuals on the secondary market. The term of the loan can reach up to 5 years, during which the interest rate will stay fixed and down payment by the client cannot be less than 50% of the property price. Previously the interest rate on such loans with the same conditions equaled 18,4% p.a.
Besides the Bank implemented differentiated interests rates depending on loan duration and down payment size. So loan for property purchase on secondary market in cooperation with the SMA vary from 16% p.a. to 18,00%.
Moreover, the interest rates for other mortgage programs offered by the bank were also decreased substantially; the decrease amounts to 2 p.p.
Furthermore, Piraeus Bank has implemented interest rates differentiation depending on loan duration and the clients’ down payment. Thus, fixed interest rates on the purchase of property on the secondary market loans vary from 16% to 18, 5% p.a., on the primary market loans from 18% to 18,5% p.a. and on home equity loans from 19,5% to 20,5% p.a.
Ilias Mouzakis, Piraeus Bank in Ukraine Retail banking director: "Private individuals can choose such credit terms – down payment, duration and interest rate – which mostly match their financial needs, their ability and plan to repay their mortgage loan"
"From now on private individuals can choose such credit terms – down payment, duration and interest rate – which mostly match their financial needs, their ability and plan to repay their mortgage loan. Accordingly, the applicable interest rate will differ depending on these parameters, whereas previously we offered standardized rates for all mortgage programs", – the Retail banking director, Ilias Mouzakis said.
Today Piraeus Bank offers four mortgage programs: purchase on the secondary market loan, purchase on the secondary market loan in cooperation with the State Mortgage Agency, purchase on the primary market loan and home equity loan.
For detailed information, please call to the Call Center: 0 800 30 888 0 (calls from landline phones within Ukraine are free of charge, from mobile phones – according to the operators tariffs), visit the bank branch or official web-site www.piraeusbank.ua.
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 29.10.2013).
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 Office
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