Hellenic Bank announces targeted measures to support society

Hellenic Bank , as part of its ongoing policy to support Cypriot society, households and vulnerable groups , has announced a series of measures designed to facilitate and strengthen them.

According to a recent announcement from the Bank, these include:

• Installation of new ATMs in areas with increased needs to better serve citizens and businesses.
• Free cash withdrawals from ATMs of all banks in Cyprus and Europe for all customers with a 'Basic Account' and/or a savings account.
• Free cash withdrawals and deposits at the Bank's counters for all pensioners .
• Free transfers within Cyprus and Europe ( SEPA transfers ) for amounts up to €3,000 and simultaneous execution on the same day, also free, via Online Banking and Mobile App .
• Free account maintenance for young people through the 'My account 18-25' product with the following features:

-free Ocean Debit debit card

-free cash withdrawals in Euros, from any ATM worldwide

-free travel insurance

-participation in the 'MPLE' card reward program

-no foreign currency conversion fees (up to €300 per month)

- option for overdraft limit up to €1,200

• Free maintenance of a 'Basic Account' for citizens belonging to the Guaranteed Minimum Income (EEE) category .
• Free checkbook for pensioners .​
• New housing product regardless of the amount for a first home, with a fixed interest rate : 2.95% for 3 years and 3.10% for 5 years, with an additional reward of up to €2,000 for the purchase of household equipment .
• New housing product, falling under the Government Housing Subsidy Scheme for Young Couples and/or Young People up to 41 years of age, with an additional interest rate reduction of 0.45%, i.e. 2.50% for 3 years .
• Low base interest rate for existing and new floating rate loans linked to the Hellenic Bank's Main Base Rate, which currently stands at 1.91% . It is estimated that the downward trend in interest rates will continue, which is expected to bring further reductions in 2025.
• The reduction in the reference interest rate for loans linked to the key rate for the ECB's main refinancing operations by 0.25%, from 3.40% to 3.15%, which has come into effect from 18 December 2024. It is noted that the specific ECB interest rate was 4.50% from September 2023 to June 2024.
• The Bank offers a range of green loans with low/competitive interest rates that cover different needs, from homes to businesses and vehicles – green home, green car, home energy upgrade, facility energy upgrade and business technological upgrades.

"With the exception of the first measure, which will require a further implementation time, the rest will be gradually implemented with full implementation by 31 January, 2025.

Hellenic Bank supports the government's initiatives and expresses confidence that these measures will contribute positively to the common effort for the prosperity and progress of society.

The Bank will continue to stand by its customers, providing competitive products and services, with the aim of improving their daily lives and strengthening the economic activity and development of our country," the press release said.