Your housing loan for buying a plot of land

The options and the product features presented below apply to permanent residents of Cyprus only. If you have not been permanently resident in Cyprus for the last 5 years but are interested in housing loans, please call in at any of our Bank of Cyprus branches to find out about the options open to you.

Loan amount: You can obtain a loan for the following amounts:

  • 70% of the value of the plot of land, if the plot is within a residential area if you intend to build a house on the land within the next 2 years 
  • 70% of the value of the plot of land, if the plot is outside a residential area, the loan is up to €300,000 and you intend to build a house on the land within the next 2 years.
  •  50% of the value of the land if the plot is outside a residential area, and the amount is over € 300,000.
  •  50% of the value of the land, if you are purchasing the land for investment purposes.

Instalment planning: You can set the level of the instalment and the frequency of payment based on your repayment capabilities.

Currency: EURO

Interest Rate Type: As far as the interest rate is concerned, you can choose between:

  •  a fixed interest rate for a period of 3 to 5 years. After the fixed period you have selected for the loan ends, the interest rate will revert to a variable rate based on the Bank’s base rate for housing loans or the Euribor 6-month rate.
  •  a variable rate for the entire duration of the loan. You can opt for either the Bank’s base rate for housing loans or the Euribor 6-month rate. 
  •  Ask our Relationship officers to find out more on our current interest rates.

Maximum repayment period: 20 years

Minimum repayment period: 15 years if you opt for a fixed interest rate or 10 years if you opt for a variable rate.

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