“Relax” loan

Financial solutions for educational needs in Cyprus or abroad. We have the right loan for all stages of your childs education.

What does it cover?

  •  Tuition fees (for kindergartens, private primary and secondary schools, colleges, universities)
  •  Books, uniforms, study preparation and research costs
  •  Transport costs
  •  Living costs (rent, home start-up equipment, monthly expenses and pocket money)


Important information

  •  The loan is intended for parents and for working students.
  •  It offers a fixed low interest rate for 3 years followed by a variable rate.
  •  It also offers a grace period for capital repayments of up to 4 years meaning you only repay interest during that period.
  •  The maximum loan amount is €90,000 for each child. We ensure that the loan amount approved reflects both your needs and financial situation.
  •  Bearing in mind that the level of the loan is a definitive factor in the repayment period of any loan, the Relax loan allows you to repay over a period of 15 years from the date the loan is taken out.
  •   The loan can be repaid in the following ways:

            1) by equal monthly instalments

            2) by paying interest only during the first 4 years and then by increasing the

                instalment so  as to repay the loan within a maximum period of 15 years.

Rewarding top performance students

If the student, at the end of  each academic year, gets a grade within the top scale of  his/her university/college  then the Bank will reward him / her with a reduction of  0,25% on the interest rate, for a year. If the student completes his/her studies with a final grade within the top scale, then the reduction in pricing will continue for the remaining duration of the loan.

The reduction in pricing will apply subject to submission of all relevant certificates / proof. 


What is the interest rate?

By taking out a Relax loan, you secure a fixed interest rate for 3 years which means that during that time your instalment remains the same. Subsequently the interest rate becomes variable until the loan is repaid in full, which means that after the first 3 years the instalments will go up or down in line with the interest rate applicable from time to time.

To learn more about interest rates click here.


The Bank reserves the right to turn down any request at its discretion and to withdraw any product at any time. The interest rate and loan instalment may be changed by the Lender from time to time.

You run the risk of losing your real estate assets if you fail to keep up mortgage instalments or instalments on any other loan secured by a mortgage on your property.

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