PIRAEUS FINANCIAL HOLDINGS S.A.
Measures by Piraeus Bank to support its customers
Piraeus Bank, aware of the difficulties faced by its customers, has enacted since May 12, 2010 a series of facilitation measures for its customers-holders of Housing and Consumer Credit products. These measures are absolutely adjusted to the emergency needs created by the current economic conjuncture aiming at supporting all social groups.
Therefore, its customers being civil servants finding it hard repay their loans, are offered the possibility to dramatically cut their installment, choosing one of the following programs:
1. HOUSING LOANS
- Decrease of the monthly loan installment by half for a period up to 3 years by respectively extending the loan duration.
- Only interest payment for a period up to 5 years respectively extending the loan duration. This measure achieves a monthly payment reduction by up to 65%. As a result, for a €100.000 loan for which a customer is now paying 606€/month, the new installment for the facility period duration stands at €209 (i.e down by €397/month).
- Extension of loan duration by up to 5 years. For a corresponding loan, instead of €606/month, a customer may pay €528/month (a decrease by €78/month).
2. CONSUMER LOANS
- Concentration of all amounts due from consumer loans and Piraeus Bank credit cards to a new loan with property pre-notation and duration by up to 20 years or without a collateral and duration up to 15 years (depending on the loan amount).
- Only interest payment for a period up to 3 years respectively extending the loan duration. With this program the customer may decrease the installment by up to €55%/ month. For an unexpired capital of €10,000, the customer may pay €101/month instead of €223/month paid at present
Taking into account that under the present circumstances many borrowers, not only civil servants, sustained an indirect reduction of their income (increase of direct taxation) or restriction of their income due to drop of demand (tradesmen) facing difficulties, Piraeus Bank has taken care to offer them the corresponding support programs.
In particular for the customers facing serious difficulties due to loss of their job, a possibility is available to be relieved from installments payment for up to 6 months.
Therefore, its customers being civil servants finding it hard repay their loans, are offered the possibility to dramatically cut their installment, choosing one of the following programs:
1. HOUSING LOANS
- Decrease of the monthly loan installment by half for a period up to 3 years by respectively extending the loan duration.
- Only interest payment for a period up to 5 years respectively extending the loan duration. This measure achieves a monthly payment reduction by up to 65%. As a result, for a €100.000 loan for which a customer is now paying 606€/month, the new installment for the facility period duration stands at €209 (i.e down by €397/month).
- Extension of loan duration by up to 5 years. For a corresponding loan, instead of €606/month, a customer may pay €528/month (a decrease by €78/month).
2. CONSUMER LOANS
- Concentration of all amounts due from consumer loans and Piraeus Bank credit cards to a new loan with property pre-notation and duration by up to 20 years or without a collateral and duration up to 15 years (depending on the loan amount).
- Only interest payment for a period up to 3 years respectively extending the loan duration. With this program the customer may decrease the installment by up to €55%/ month. For an unexpired capital of €10,000, the customer may pay €101/month instead of €223/month paid at present
Taking into account that under the present circumstances many borrowers, not only civil servants, sustained an indirect reduction of their income (increase of direct taxation) or restriction of their income due to drop of demand (tradesmen) facing difficulties, Piraeus Bank has taken care to offer them the corresponding support programs.
In particular for the customers facing serious difficulties due to loss of their job, a possibility is available to be relieved from installments payment for up to 6 months.