You will want to change everything! Renovate your primary residence or holiday home.


Up to 20 years

Loan amount

Up to 80% of the property value


  • Grace Period
  • Installment postponement

Apply through 1bank

Online financing quickly, through Internet Banking and Mobile App

The scheme is offered to permanent residents of Cyprus only. If you are not a permanent resident of Cyprus for the last 5 years, call in at any of our Bank of Cyprus branche to find out about your options. 



Loan amount

  • Renovation of primary residence: Up to 80% of the value of the property
  • Renovation of holiday home: Up to 70% of the value of the property. 

Interest Rate Option

  • Fixed interest rate for 3, 5 or 10 years. After the end of the fixed interest period, the interest rate changes to variable.
  • Variable rate for the entire duration of the loan.

The scheme is not charged with initial bank fees.

Find out more on our current interest rates here.

Withdrawal rights

Within 5 business days of the date of conclusion of the agreement

Minimum repayment period

  • 5 years (for a variable interest rate loan or 3 years fixed interest rate loan)
  • 10 years (for a 5 or 10 year fixed interest rate loan)

Maximum repayment period

  • 20 years where the structure of the property is changed
  • 10 years for all other types of renovations

Maximum age of borrower at loan maturity

65 years 

To renovate your home, you have to submit all the necessary architectural drawings and certificates. Mortgage of the to be renovated property is required.


The Bank reserves the right to reject any application at its sole discretion and withdraw any plan at any time. If you do not make regular installment payments according to your loan repayment schedule, you may lose your house. There are charges for early loan repayment. In case of variable interest rates, the installment amount and total cost of the facility may increase or decrease depending on variations in the base rate. 


Grace period

Up to 12 months on capital.

Installment  postponement

In case of unforeseen events, you can postpone the payment of up to 2 monthly installments per year (24 installments during the life of your loan).


Installment Calculator Use our calculator to get an indication on the installment, interest and total cost for your renovation. Calculate here
Need more information?
  • 800.00.800
  • Calling from abroad +357 22128000
  • Service hours
  • Monday to Friday, 07:45 until 18:00
  • Saturday and Sunday 09:00 - 17:00
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