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eLOAN BENEFITS
Building and using your eLoan!
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BUILDING YOUR eLOAN
Οnly you know what is best for you, so Laiki eLoan allows you to build your account around your own needs and priorities.
During your application eLoan enables you to choose:
1. One or both of our attractively priced eLoan types
- eLoan with salary deposit: 9,50% A.P.R. 9,73%*
If you would like an unsecure loan based on your salary this is the option for you. All you need to do is deposit your salary in your eChecking account every month. For your own convenience you can arrange for your salary to be deposited directly into your account by your employer. You will be provided with more information on how to do so during your application.
- eLoan with a blocking of funds in a savings account:
6,60% A.P.R. 6,71%*
If you do not want to use up those life savings but need some additional cash to spend then this is the option for you. To be eligible for this option you must have a savings account with Laiki Bank.
2. Your loan amount
- eLoan with salary deposit
You will be provided with a loan amount of up to three times your gross monthly salary with a maximum of EUR15.000 but you can select any amount below this.
- eLoan with a blocking in a savings account
You can obtain a loan of up to EUR35.000. The equivalent of the loan amount you select will be blocked in your savings account until the loan is repaid but you will still continue to receive interest. Only your solely owned savings accounts may be used but you can always transfer any amount of funds you have in a joint account to a solely owned savings account.
3. Your loan period
Choose between 1 to 7 years.
4. Your Instalments
Select the amount you wish to pay per month.
5. A Sole or Joint eLoan of up to two people
Joint accounts are only available for joint eChecking account owners or customers who apply for an eLoan at the same time with a joint eChecking account.
USING YOUR eLOAN
Laiki eLoan basically services itself since the transfers from the account and to the account are done automatically.
- Once your application is approved and your eLoan account is opened, the whole amount of your loan will be transferred automatically to your eChecking account. You can then use your eCard Debit to make your purchases. Note that in the case of eLoan with salary deposit, this amount will only be transferred to your eChecking once you perform a deposit to your eChecking account equivalent to your salary.
- Your instalments will be paid through your eChecking by means of that will be set up automatically. All you need to do is make your deposits to your eChecking account.
- You will be able to monitor your loan 24 hours a day through the Laiki eBank Channels.
- You can obtain statements of your loan through all Laiki eBank Channels and you will also receive an annual printed statement at the end of each year.
ELIGIBILITY FOR eLOAN
- Permanent residents of Cyprus with a Cyprus Identification card.
- Adults over 18 years old.
- Laiki eChecking is a prerequisite to Laiki eLoan but you can apply for a Laiki eChecking account with or without limit concurrently.
* The APR can be calculated assuming a credit limit of EUR5.000 and a period of 5 years. Interest rates are based on the Marfin Laiki Bank Base Rate, which is currently 5,00%.
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SERVICES
eChecking
Apply through 8000 2000
