With the participation of all systemically important banks starts on Monday DIPA program for getting 5000 loans from young people and young couples aged 25 to 39, with interest rate be limited to a quarter of the normal market rate, and in the case of multiple children, the rate is zero. The program has a total budget of 500 million euros (with the possibility of increasing) and aims to help 10,000 people (couples or even families).

Bank applications are starting, labor minister said yesterday Kostis Hatzidakis and Minister of State Akis ShertsosOn April 3, according to the estimates of the two ministers, the beneficiaries will be able to receive private residence. With regard to the monthly installment, it will be significantly lower than the corresponding housing loan on the market, since 75% of the capital issued by DYPA is interest-free, and for three- and many-children (and those who acquire this status during the repayment period), the loan is provided in full interest-free. Thus, borrowers will have a significantly lower down payment compared to home loans issued by banks, and, accordingly, a much lower burden than any increases in bank interest rates that have been or may be made due to the international crisis.

For example, for a €100,000 loan with a maturity of 30 years and an interest rate of 5.8%, the monthly payment is €342.87 compared to €587.52 without the subsidy.

If the borrower has many children, then the loan is interest-free, and the installment plan is limited to 277.78 euros.

The program includes National Bank, Piraeus, Alfa, Eurobank, Attica Bank, Pankritia, as well as the Cooperative Banks of Epirus, Thessaly, Karditsa and Chania.

The beneficiaries are persons aged 25 to 39 years on the date of application for a loan, or married couples (one of them must meet the age criterion), provided that:

1. Have an annual income of at least 10,000 euros and up to 16,000 euros per person, 24,000 euros for a couple plus 3,000 euros for each child, 27,000 euros for a family with one parent plus 3,000 euros for each child after the first. .

2. They don’t have real estate that meets their housing needs.

The program is aimed at people aged 25 to 39 and has a total budget of 500 million euros.

Eligible real estate is residential buildings of commercial value (i.e. the value that will be specified in the contract of sale) up to 200,000 euros, up to 150 sq.m. and at least 15 years old, in a residential area.

The loan amount cannot exceed 150,000 euros and a period of 30 years, while it can cover up to 90% of the value of the property.

The loan is exempt from tax Law 128/1975, which is currently 0.12%.

The program covers the cost of the package for each potential borrower.

It is not allowed to request a guarantee from a third party to provide a loan. The signing of the loan agreement and the payment of the amount must take place within six months from the date of approval of the Hellenic Development Bank application.

Three months of free time

The repayment of the subsidized interest will be made by DYPA to the account, after the payment of each installment by the borrower, to an account that will be kept in a banking institution, while the borrower is obliged to pay only the debt. In the event that the borrower delays the installment payment for 3 consecutive months, the interest subsidies will be terminated and their payment will now be made by the borrower. The interest subsidy end date is defined as the end of the 90-day past due payment. The renewal of the interest rate subsidy will be possible only in cases when the borrower repays all of his overdue debts or joins the loan agreement, after the borrower has submitted a corresponding application to the cooperative bank, documenting the reasons for the impossibility of servicing the loan. debt and its approval.

The borrower will be able to partially or fully repay the loan ahead of schedule, without any fines or other fees.