Bank of Cyprus to reduce its base rate

Bank of Cyprus Public Company Ltd as of March 1, 2015 will be reducing all its Base Rates by 1.00%:

  • Bank Base Rate, from 5.00% to 4.00%
  • Bank Base Rate for Housing Loans, from 3.25% to 2.25%
  • Bank Base Rate for Business Loans, from 4.00% to 3.00%

The above reductions will benefit 94,000 customers (individuals and businesses) holding with the Bank some 180,000 accounts (current accounts, housing/personal/business/student loans) linked to the above base rates. This does not include customers whose account has been terminated by the Bank.

The benefit to customers translates to €57.4m in lower annual interests. In order that the benefit is fully transferred onto customers, the Bank will automatically make the corresponding reductions to loan instalments, in this way boosting the economy.

CONTACT US 800 00 800 / (+357) 2212 8000 EMAIL US