Development working capital loan

Depending on your needs

There is no maximum or minimum loan amount. We assess and approve your application based on:

• Your credit rating.
• The transaction turnover of your business.
• Any collaterals.

With or without collateral

It is possible that we may request personal guarantees and/or collateral for the entire loan amount, according to our lending policy.

Fixed or floating interest rate 

Choose:

• Fixed or floating rate for the entire loan term.
• Fixed for 3 or 5 years and floating for the remainder of the term.

From 2% fixed rate

The fixed rate ranges from 2% to 8.50%, depending on the:

• Loan term
• Collateral you are offering
  

Floating rate with 0.25%+ spread

The floating interest rate consists of a base rate and a spread. The base rate depends on the collateral offered:

• Minimum Lending Rate (MLR) + 2% spread, for personal guarantees.
• 3m Euribor + 2.50% to 4.50% spread, for 100% cash collateral.
• Alpha Preferential Rate for Businesses (APRB) + 0.25% to 2% spread, for other collaterals

The interest rate spread depends on:

• Your credit rating
• The collateral you are offering

Law 128/1975 levy

According to Law 128/1975, all loans are subject to a levy that is paid to the Greek State.

For the Development working capital loan, the levy currently stands at 0.60%.

Have a look at the deposit and loan interest rates.

Up to 6 years with a grace period

Repay the Development working capital loan in 2 to 6 years.

You can get up to 12 months grace period, with no interest capitalisation. Meaning that during your grace period you pay interest only.

With instalments that repay interest and principal

You can adapt your working capital payments according to your business needs and cash flow with:

• Equal instalments that pay interest and principal
• Payment every 1, 3 or 6 months

You choose whether you want to pay the instalments:

• Automatically with a standing order from your business account
• Online through business web banking
• At one of our branches

Early loan repayment

You can repay your loan earlier in full or in part at any time, without any penalties, if you have opted for a floating rate.

If you have opted for a fixed rate, you will pay a penalty.

For the processing fee

You pay a lump sum depending on the loan amount:

• €400 for amounts up to €50,000 
  
• €500 for amounts from €50,000.01 to €150,000
  
• €800 for amounts from €150,000.01 to €500,000
  
• €1,200 for amounts from €500,000.01 to €1,000,000
  

Mandatory property insurance

If you are offering collateral in the form of a mortgage lien on property, you must insure the property against fire and other risks, as appropriate, and bring an insurance policy in force to the branch.

Optional borrower insurance

You may also get the Business owner loan protection insurance plan we offer in cooperation with Generali, as an insurance intermediary (only in Greek).. This way, if something unexpected comes up, your outstanding loan balance and accrued interest will be paid on time.