“Revolving” loan

Loan solutions for educational expenses in Cyprus or abroad.

The most importan benefit of our "Revolving" student loan is that it gives you the ability to cover your financial need by borrowing less and therefore providing lower collateral. The loan amount is determined by the withdrawals you make and the instalment amount you wish to pay. 

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

  •  This loan has a variable interest rate determined by the collateral you provide.
  •  The maximum loan amount is € 90,000 for each child
  •  We ensure that the loan amount approved reflects both your needs and financial situation.
  •  The repayment term can range from 1 to 10 years after completion of studies (with maximum duration 15 years). For example, if the course of studies lasts 5 years, the loan can be repaid over a maximum period of up to 15 years.

The loan can be repaid in the following ways:

  •  by equal monthly instalments
  •  by gradually increasing the instalment any by setting different monthly instalments for different time periods. For example, you can start off with a low instalment while still studying since your outlays are higher then, and then increase the instalment after you finish studying.

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?

The loan has a variable interest rate, which means that the interest rate can be changed at any time (up or down) and your instalment will change accordingly.





Estimated loan installment

Total Payable amount

Mortgage on property

Bank Base Rate + 0,25%




With Personal Guarantees

Bank Base Rate + 1.50%





The Bank’s base rate = 3,78%.

*The APR was calculated on 15/09/2017 for a loan of € 20,000 (estimated property value of € 150,000), 10 years repayment (120 instalments), with variable interest rate (as shown on the table above). The APR and the total payable amount include all stamp costs for the documents of the financing, valuation fees and a mortgage registration fee (1%) paid to the Land Registry. The example assumes that the client will provide life and fire insurance which will be assigned and the property will be mortgaged for the benefit of the Bank

** The APR was calculated on 15/09/2017 for a loan of € 20,000, 10 years repayment, with variable interest rate (as shown on the table above), 10 years repayment(120 months),without initial Bank fees.

 The above schemes are not charged with initial bank charges


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