How do you benefit?
The Reward Program for Consistent Mortgage Customers protects you with floating mortgages from future interest rate increases and offers a 0.20% reduction in benchmark rates, fixed for the duration of the program.
This offer starts from June 2023 and will run for 12 months, rewarding regular repayments from our borrowers.
The Program
With the Reward Program we provide protection to our customers with floating rate mortgages from potential future increases in interest rates and reward consistency by reducing the benchmark interest rates (ECB Base Rate, 1-month Euribor, 3-month Euribor) as they stood on 31 March 2023, reduced by 20 basis points (0.20%) throughout the duration of the Program.
The Program will be implemented from June 2023 and will have a duration of 12 months.
Features
Indicatively, the benchmark interest rates will be as follows:
- ECB base rate at 3.30% from 3.50% at the end of March 2023
- Euribor 1-month Euribor at 2.715% from 2.915%
- Euribor 3-month Euribor at 2.838% from 3.038% respectively
If during the 12-month period benchmark rates fall to levels lower than those set out in the Reward Program, the reductions will automatically be applied to the mortgage rates and customers will benefit fully from the new adjustment.
Conditions for joining the Program
All variable rate mortgage loans to individuals disbursed until 31 December 2022 are eligible for the Reward Program for Consistent Mortgage Customers.
A condition for inclusion is that the loan must not have any overdue debts until 28/4/2023, while, in order to retain the preferential pricing, borrowers must maintain timely payments throughout the 12-month duration of the program.
Consistent mortgage customers will be automatically enrolled in the Reward Program without any action required on their part, and will be notified of their reduced loan rate and the corresponding installment through the copies of their bills they receive.
The financing needs of the Reward Program for Consistent Mortgage Customers are fully covered by Attica Bank.