Branch Network

Before taking out a loan

Which criteria determine how much I can borrow?

There are 3 main criteria:

  • Your income.
  • Your other liabilities and living costs.
  • Any collaterals.

With mortgage loans, we also consider the estimated value of the property you offer as collateral. The loan amount may be up to 80% of the property value and up to 100% of the sales contract price.

Which loan features can I determine?

The loan term and the grace period.

The term affects the instalment and interest. As the term becomes longer, the instalment becomes lower, but interest goes up. When choosing your loan term, you should consider whether you will be able to pay your instalments in case your income changes unexpectedly.

The grace period is there to help you with your first housing expenses, especially if you are building your house. You can choose a grace period up to 24 months. During this period you may pay only the interest or not pay anything at all. However, in this case, the interest will be incorporated in the loan amount. This means that overall you interest will be higher.

What do I gain from a mortgage loan?

Lower interest rates and a longer repayment term. 

How do I find out if my loan has been approved?

  • At the branch where you applied.
  • Via SMS at the number you wrote in your application.
  • Via email if you have applied online for a consumer loan.

How can I calculate my loan instalment?

Choose the calculator that corresponds to the loan you are interested in. Try different scenarios for the loan amount and term, and see how your instalment changes.

About interest rates

What is a floating interest rate?

A floating interest rate consists of:

The base rate (usually 3M Euribor) + spread).

The spread is fixed throughout the loan term. However, the base rate changes daily in the interbank market. This means that each month your instalment increases or decreases according to the change of the base rate and, consequently, the floating rate.

What is the Euribor?

A market reference rate.  Specifically, the rate at which the EU banks borrow funds from the interbank market, without collateralisation. Euribor is calculated for different maturities (1 week, 1, 3, 6, and 12 months).

The European Money Markets Institute(EMMI) is responsible for its management.

What is the spread?

A percentage added to the base rate, to calculate the overall floating interest rate of your loan.

The spread is determined at the beginning of your loan and remains fixed throughout the loan term.

What is the difference between a fixed and a floating interest rate?

A fixed interest rate does not change throughout a specified period, agreed upon from the beginning. Especially with consumer loans, its remains fixed throughout the term of the loan.

A floating interest rate follows the changes of the base rate, leading to a corresponding change in the amount of your instalment.

Which interest rate should I choose?

The one that best fits your needs. If you wish to:

  • Ensure a fixed monthly instalment for a specific period, you can choose a fixed interest rate.
  • Follow the market trends, you can choose a floating interest rate. In this case, the amount of the instalment will increase or decrease every month, depending on the interest rates.

What is the annual percentage rate of charge (APRC)?

It is the actual total cost of your loan or any other credit you have obtained. It includes the interest, levies and other loan expenses you will pay expressed as an annual percentage of the total loan.

The APRC makes it easier for you to compare different offers.

Where can I find the interest rates that apply to consumer loans?

In the Alpha Bank Transaction Terms.

Where can I find the interest rates that apply to mortgage loans?

In the Alpha Bank Transaction Terms.

Can I change the interest rate of my mortgage loan?

Yes, you can switch from a floating to a fixed interest rate, and vice-versa, provided it is specified in your agreement.

However, there will be extra charges if you ask to:

  • Interrupt the fixed interest rate period and switch to floating rate. In this case, you have to pay the cost specified in your agreement for the repositioning.
  • Switch to the fixed interest rate offered today for new loans. In this case, you will have to pay a €200 fee for us processing your request.