They will remain frozen until April 2025. the interest rates on 422,000 mortgages of informed borrowers totaling 18 billion euros after the extension of the measure by 12 more months from the banks.

They have already announced an extension of the measure Eurobank and Alpha Bank, and announcements from the other banks are awaited.

The measure applies to all informed mortgage loans floating rate, as well as the regulated red loans being repaid, which were disbursed before 2023.

According to the Hellenic Banking Association, 422,000 mortgage loan contracts, totaling 18 billion euros, have been included in the emergency measure.

The announcement of Eurobank

“Following the April 11, 2023 announcement on the “Reward Program for Consistent Mortgage Customers” (hereinafter “Program”), the Bank, continuing the initiative to support and reward its customers, private consistent borrowers, announces the extension of the Program for another 12 months, under the same conditions as detailed in the announcement of April 11, 2023.

In particular, depending on the base interest rates and the currency of the loan, the Program interest rates that continue to apply are as follows:

BASE RATE Interest rate
PROGRAM
Loans in Euro
EURIBOR 1 month 2.70%
EURIBOR 3 months 2.85%
ECB interest rate (MRO) 3.30%
Loans in Swiss Franc
SARON rate 1.20%

From the interbank rate SARON (Swiss Average Rate Overnight) the corresponding LIBOR for the Swiss Franc is calculated».

Alpha Bank’s announcement

“Consistent Mortgage Loan Customer Reward Program Extended Interest rate hike protection for consistent variable rate mortgage borrowers for an additional year

Alpha Bank continues the tangible reward to its Customers who remain consistent in their loan obligations for mortgage loans with variable interest rates.

Specifically, following its announcement on the terms of the Program from 11/4/2023, the Bank is proceeding with the extension of the Reward Program for Consistent Mortgage Borrowers until April 30, 2025.

All private customers of Floating Rate Mortgages, which have been disbursed by 31 December 2022 and have no overdue debts, are automatically included in the Programme, which applies to all grant currencies.

The financing needs of the Reward Program for Consistent Mortgage Customers are covered entirely by Alpha Bank, within the framework of the Group’s Corporate Social Responsibility initiatives.”