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ASPIS BANK Home Equity Loan |
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Title : ASPIS BANK Home Equity Loan
For those who wish to invest on their property to cover unexpected needs or fulfil personal aspirations benefiting from an exceptionally low interest rate, ASPIS BANK offers a loan in the form of open credit.
Loan Purpose
This loan aims to accommodate existing mortgage clients as well as new clients who desire financing by pledging their property as collateral.
Loan Amount
The amount of the loan ranges from €10,000 to €500,000 and is set as follows:
· For existing mortgage clients: additional financing up to 80% of the current commercial value of the property that has been underwritten depending on the amount of the mortgage that has been repaid.
· For new clients: financing up to 80% of the current commercial value of the property to be underwritten, or up to 60% if the property undergoes a second underwriting
Duration
Indefinite
Loan Rate
Exceptionally low rate: 7% variable
Loan Instalments
Quarterly payments by disbursing 3% of the outstanding balance with a minimum payable amount of € 300
Flexibility in Arranging your Loan Instalments
· Ability to increase or decrease your instalment depending on your financial needs
· Ability to defer the payment of up to two instalments (even two consecutives ones) per year.
· Ability to select among certain dates available for making a payment: on the 1st ,15th , 20th of the 1st month of each quarter of the year, or a quarterly payment in accordance to the date of withdrawal with the option to change the date of the instalment to suit your needs
· Ability to make any additional installments should you choose to decrease your outstanding balance
· Early partial or full loan repayment at no extra cost
Added Benefits
· ASPIS BANK VISA, free of annual fees for 1 year
· Loan approval within 1 day
· Free automatic deposit account debit
· Quarterly balance statement
· Use of the Bank`s networks for making minimum payments
· Ability to monitor your loan through the online banking & phone banking services
*All the above-mentioned interest rates, do not include a surcharge of 0,6%, applicable in accordance with L. 128/75.
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