More information

• For QuickLoan

  What is the interest rate?

  Learn more on our interest rates here

  Who is eligible?

  Permanent residents of Cyprus only. If you are not a permanent resident of Cyprus for the last year, contact any Relationship Officer in our Brach Network to find out your options.

  Can I change my mind?

  You have the right to withdraw from the agreement within 14 calendar days from the date of its conclusion when the facility is provided without any guarantees / securities  or is secured with personal guarantees.

  FAQs for QuickLoans

  How can I check the status of my application?

  You will be informed via a message on your mobile of your application status.

  Can I add a joint borrower?

  QuickLoan products are available to one borrower. You can apply with a joint borrower through your servicing Branch.

  What supporting documents do I have to submit?

  A proof of income may be requested within the online procedure.

  Do I have to cover my loan with an insurance?

  No, you don’t have to. However, if you are interested in doing so, contact your servicing Branch. Terms and conditions apply.

  Are there any fees associated with the application?

  QuickLoan products are offered without any initial bank charges (arrangement or documentation fees). You will only have to pay stamp duty as per the relevant legislation which applies from time to time. 

  What does the automated assessment of my application, the automated decision-making and the automated processing of my personal data and profiling involve?

  Applications for QuickLoan products are assessed electronically based on your creditworthiness, repayment ability and the Bank’s credit policy as applicable from time to time.

  The decision for the approval or rejection of the online credit application will be reached by processing your personal data using solely automated means (including profiling), without human involvement, and only after we have your explicit consent to do so.

  Profiling under this procedure involves the automated processing of your personal data to analyze, evaluate and predict your creditworthiness and ability to repay the facility.

  The Bank will use only the necessary information that will allow the assessment of your creditworthiness and repayment ability and to make responsible, fair and informed lending decisions.

  The Bank will use information that you provide, as well as information derived from the Bank’s internal sources (that is your personal and contact details, employment, income, expenses, family structure, spending habits, conduct on other accounts / facilities / guarantees / securities, payment arrears on other accounts / facilities, judgement debts, whether your personal data has been verified and updates for anti-money laundering purposes) and external sources (that is bankruptcy records, i.e. arrears, non-performing facilities and judgement debts at other banks from Artemis Credit Bureau).

  The application may also be automatically referred to the Bank for further evaluation by an officer.

  Do I have the right to object to the automated decision?

  Yes, you have the right to request re-examination of the application by a Bank’s officer by contacting your servicing Branch. 

  Can I withdraw from the application process at any time before submitting it or after a decision is reached by the Bank?

  You can withdraw your application at any time. If you have entered any information, you have the choice to save it and resume with the application at a later stage or discard it. If you choose to discard it, the information you entered will not be saved. Your application will be automatically discarded if you remain inactive for 15 days.

  If a decision is reached by the Bank, you can still withdraw your application at any time before entering into a contract for the granting of the facility. This does not affect your other rights regarding the processing of your personal data.

  You can also withdraw from the contract within a specified timeframe and subject to certain conditions. More information on your right to withdraw from the contract will be provided in the pre-contractual information for the credit facility which will be made available to you, as well as in the agreement for the granting of the facility.

  How is Bank of Cyprus protecting my privacy and handling my personal data?

  he Bank is committed to protecting your privacy and handling your data in an open and transparent manner. You can learn more in the Bank’s Privacy Statement , where you can also find further details on your rights, for example your right of access, right to request correction / rectification, the right to lodge a complaint etc.

  What happens after approval?

  After approval you will be notified for the preparation of the contractual documentation for the granting of the facility via a message on your mobile. The signing of the contractual documentation will take place at your servicing Branch, unless indicated otherwise.

  How fast can I have the loan amount in my account?

  If approved, the loan amount will become available to you the working day following the signing of the contractual documentation at the latest.

  I am not a customer of the Bank. Can I still apply?

  Yes. You can download the BoC mobile app and register. Then, you will be able to connect to 1Bank (Terms and conditions apply). You can apply for this facility either via 1Bank or via the BoC mobile app.

  Useful information on interest rates, fees, instalment payments and the right to withdraw from the agreement

  What options are there regarding interest rates?

  For all personal loans you can only select a floating interest rate. No fixed rate option is available.

  For floating rate loans, the interest rate can be changed at any time (upward or downward) depending on base rate changes. The variable interest rate consists of the base plus margin. Every time the total interest rate changes, your loan instalment will also change.

  What are the initial fees?

  Some loans may bear initial fees, payable upon the granting of the loan.

  Initial bank fees

  • Arrangement fees: these relate to the Bank’s costs for preparing and evaluating your application.
  • Documentation fees: a fixed charge for the preparation of loan documents, the charge is determined by the loan amount.

   Government fees

  These fees are regulated by law as follows:

  • Mortgage registration fees paid to the Land Registry.
  • Fees relating to stamping the loan documents and paid to the Commissioner of Taxation.
  • Fees paid to the Land Registry in cases where the transfer of property from one owner to another is necessary.

  Fees paid to third parties

  These are fees related to valuations carried out on behalf of the Bank by approved valuers for mortgaged property, or fees related to life and/or home insurance.

  Find out about all Bank fees from the Table of Commissions and Charges

  What do I need to know about loan instalment payments?

  • You can provide instructions in writing, so that your instalment is paid automatically from your current account.
  • You can pay your instalments as determined by the terms of your loan. Please make sure to designate a date that is convenient for you. Should this date change, you need to promptly contact your personal banker.
  • Delayed instalment payments incur additional costs, increasing the cost of your loan.
  • Should your financial circumstances change and you are unable to keep up with instalment payments per the terms of your contract, please get in touch promptly with your personal banker in order to agree a new repayment schedule adapted to your new circumstances.

  What happens if I pay off my loan/instalments early?

  Where a loan is paid off early, or instalments are paid early in relation to the agreed schedule, the Bank will charge costs depending on the type of interest rate and the amount that was paid off early.

  What is the Annual Percentage Rate (APR)?

  The Annual Percentage Rate (APR) is the total cost of the loan to the consumer, expressed as an annual percentage on the loan amount. The APR includes all loan expenses paid by the client to either the Bank or to third parties (e.g. government fees, valuation expenses, insurance etc).

  The APR is considered to be the best tool as it includes all loan expenses. It helps you form a complete picture and to compare the Bank’s schemes with the schemes of other banks. 

  Can I change my mind?

  You have the right to withdraw from the agreement:

  • Within five (5) business days from the date of its conclusion, when the facility is secured with a mortgage on a house
  • Within 14 calendar days from the date of its conclusion when the facility is provided without any guarantees / securities  or is secured with personal guarantees.
• For QuickCard

  How do I know if I am eligible to apply?

  The facility is offered to permanent residents of Cyprus only. If you are not a permanent resident of Cyprus for the last year, contact your servicing Branch to find out your options.

  I am not a customer of the Bank. Can I still apply?

  Yes. You can download the BoC mobile app and register. Then, you will be able to connect to Internet Banking (Terms and conditions apply).  You can apply for the facility either via Internet Banking or via the BoC mobile app. 

  What supporting documents do I have to submit?

  A proof of income may be requested within the online procedure.

  What's the credit limit that I can apply for?

  Credit limits vary according to your needs and financial standing.

  Are there any fees associated with the application?

  QuickCard products are offered without any initial bank charges (arrangement or documentation fees).

  Do I have to pay any membership fee for having a Credit Card?

  Yes. The card is charged with a membership fee at the opening of the account. The membership fee is charged monthly or yearly based on the type of the card. For more details regarding the frequency and the amount of membership fees you can check the Table of Commissions and Charges.

  What does the automated assessment of my application, the automated decision-making and the automated processing of my personal data and profiling involve?

  Applications for QuickCard products are assessed electronically based on your creditworthiness, repayment ability and the Bank’s credit policy as applicable from time to time.

  The decision for the approval or rejection of the online credit application will be reached by processing your personal data using solely automated means (including profiling), without human involvement and only after we have your explicit consent to do so.

  Profiling under this procedure involves the automated processing of your personal data to analyze, evaluate and predict your creditworthiness and ability to repay the facility.

  The Bank will use only the necessary information that will allow the assessment of your creditworthiness and repayment ability and to make responsible, fair and informed lending decisions.

  The Bank will use information that you provide, as well as information derived from the Bank’s internal sources (that is your personal and contact details, employment, income, expenses, family structure, spending habits, conduct on other accounts / facilities / guarantees / securities, payment arrears on other accounts / facilities, judgement debts, whether your personal data has been verified and updates for anti-money laundering purposes) and external sources (that is bankruptcy records, i.e. arrears, non-performing facilities and judgement debts at other banks from Artemis Credit Bureau).

  The application may also be automatically referred to the Bank for further evaluation by an officer.

  Do I have the right to object to the automated decision?

  Yes, you have the right to request re-examination of the application by a Bank’s officer by contacting your servicing Branch.

  Can I withdraw from the application process at any time before submitting it or after a decision is reached by the Bank?

  You can withdraw your application at any time. If you have entered any information, you have the choice to save it and resume with the application at a later stage or discard it. If you choose to discard it, the information you entered will not be saved. Your application will be automatically discarded if you remain inactive for 15 days.

  If a decision is reached by the Bank, you can still withdraw your application at any time before entering into a contract for the granting of the facility. This does not affect your other rights regarding the processing of your personal data.

  You can also withdraw from the contract within a specified timeframe and subject to certain conditions. More information on your right to withdraw from the contract will be provided in the pre-contractual information for the credit facility which will be made available to you, as well as in the agreement for the granting of the facility.

  How is Bank of Cyprus protecting my privacy and handling my personal data?

  The Bank is committed to protecting your privacy and handling your data in an open and transparent manner. You can learn more in the Bank’s Privacy Statement, where you can also find further details on your rights, for example your right of access, right to request correction / rectification, the right to lodge a complaint etc.

  How can I check the status of my application?

  You will be informed via a message on your mobile of your application status.

  What happens after approval?

  After approval you will be notified for the preparation of the contractual documentation for the granting of the facility via a message on your mobile. The signing of the contractual documentation will take place at your servicing Branch, unless indicated otherwise.

  How fast can I have access to the card limit?

  If approved, the limit will become available to you the working day following the signing of the contractual documentation at the latest.

  How will I get my card and pin?

  You shall receive your card at the mailing address shown in the Bank’s records. Note that you can modify this if you wish during the application process.

  Your pin will be available to you through your BoC mobile app.

  How can I pay the monthly card amount due?

  You are highly advised that you have a direct payment order for the repayment of the instalment from your account. If you don’t have an account, you can open one via our digital channels or at your servicing Branch. Cash payments can also be done through the Bank’s Branches, ATMs or through transfers from your accounts in Bank of Cyprus or other Banks.

  What do I need to know about card repayments?

  • You can choose to repay the full balance of your statement or a percentage of it that you can select yourself. You can make additional deposits any time in cash or through transfers from your Bank of Cyprus accounts or from other Banks.
  • Monthly repayments should be made on the date specified on the statement. Delayed payments incur additional costs.
  • You can always request a change of the percentage you want to repay. This shall be done in writing. Instructions shall be delivered to your servicing Branch.

  When am I eligible for an interest-free period?

  The interest-free period - from 20 to 40 days - kicks in once you settle the full amount of your card account.

  What is the Antamivi Scheme?

  The antamivi Scheme awards loyalty points to daily transactions with Bank of Cyprus cards, at 250 businesses and more than 900 locations across Cyprus.

  How does the Scheme work?

  You will be automatically enrolled in the antamivi Scheme as all cards of Bank of Cyprus participate in this (with the exception of cards issued to minors and cards connected to foreign accounts).

  How does the Antamivi Scheme reward me?

  The scheme rewards your daily transactions with Bank of Cyprus cards with points. You earn points every time you use your cards at businesses participating in the Scheme.

  How can I find out about Commissions & Charges?

  To be informed about Commission & Charges click here.

  Am I entitled to free travel insurance?

  • You are entitled for free travel insurance  when using your Card to pay for your trip.

  How does my card provide security to mytransactions?

  The advanced technology of contactless transactions enables you to carry out most safely and easily your daily transactions in a minimum of time. Moreover, SMS Alerts or Push Notifications provide further protection to your card payments.

• For QuickOverdraft

  What is the interest rate?

  Find out more on interest rates here.

  How can I access my money?

  • With issuance of cheques
  • Ability to use Direct Visa for your purchases
  • By using ATMs in Cyprus with no additional costs.

  What other benefits are offered by this account?

  • Automatically pay loans, insurance etc through a standing order
  • Automatically pay utility bills through a standing order
  • Immediate transaction notification via SMS
  • Manage your accounts through 1bank 24 hours a day
  • Your account is automatically credited with your monthly salary

  Is there a right of withdrawal?

  Within 14 calendar days from the date of the agreement conclusion when the facility is provided without any guarantees/securities or is secured with personal guarantees.

  FAQs για QuickOverdraft

  How do I know if I am eligible to apply?

  The facility is offered to permanent residents of Cyprus only. If you are not a permanent resident of Cyprus for the last year, contact your servicing Branch to find out your options.

  How can I check the status of my application?

  You will be informed via a message on your mobile of your application status.

  Can I add a joint borrower?

  QuickOverdraft products are available to one borrower. You can apply with a joint borrower through your servicing Branch.

  What supporting documents do I have to submit?

  A proof of income may be requested within the online procedure.

  Do I have to cover my overdraft with an insurance?

  No, you don’t have to. However, if you are interested in doing so, contact your servicing Branch. Terms and conditions apply.

  Are there any fees associated with the application?

  QuickOverdraft products are offered without any initial bank charges (arrangement or documentation fees). You will have to pay stamp duty as per the relevant legislation which applies from time to time. 

  What does the automated assessment of my application, the automated decision-making and the automated processing of my personal data and profiling involve?

  Applications for QuickOverdraft products are assessed electronically based on your creditworthiness, repayment ability and the Bank’s credit policy as applicable from time to time.

  The decision for the approval or rejection of the online credit application will be reached by processing your personal data using solely automated means (including profiling), without human involvement, and only after we have your explicit consent to do so.

  Profiling under this procedure involves the automated processing of your personal data to analyze, evaluate and predict your creditworthiness and ability to repay the facility.

  The Bank will use only the necessary information that will allow the assessment of your creditworthiness and repayment ability and to make responsible, fair and informed lending decisions.

  The Bank will use information that you provide, as well as information derived from the Bank’s internal sources (that is your personal and contact details, employment, income, expenses, family structure, spending habits, conduct on other accounts / facilities / guarantees / securities, payment arrears on other accounts / facilities, judgement debts, whether your personal data has been verified and updates for anti-money laundering purposes) and external sources (that is bankruptcy records, i.e. arrears, non-performing facilities and judgement debts at other banks from Artemis Credit Bureau).

  The application may also be automatically referred to the Bank for further evaluation by an officer.

  Do I have the right to object to the automated decision?

  Yes, you have the right to request re-examination of the application by a Bank’s officer by contacting your servicing Branch. 

  Can I withdraw from the application process at any time before submitting it or after a decision is reached by the Bank?

  You can withdraw your application at any time. If you have entered any information, you have the choice to save it and resume with the application at a later stage or discard it. If you choose to discard it, the information you entered will not be saved. Your application will be automatically discarded if you remain inactive for 15 days.

  If a decision is reached by the Bank, you can still withdraw your application at any time before entering into a contract for the granting of the facility. This does not affect your other rights regarding the processing of your personal data.

  You can also withdraw from the contract within a specified timeframe and subject to certain conditions. More information on your right to withdraw from the contract will be provided in the pre-contractual information for the credit facility which will be made available to you, as well as in the agreement for the granting of the facility.

  How is Bank of Cyprus protecting my privacy and handling my personal data?

  The Bank is committed to protecting your privacy and handling your data in an open and transparent manner. You can learn more in the Bank’s Privacy Statement, where you can also find further details on your rights, for example your right of access, right to request correction / rectification, the right to lodge a complaint etc.

  What happens after approval?

  After approval you will be notified for the preparation of the contractual documentation for the granting of the facility via a message on your mobile. The signing of the contractual documentation will take place at your servicing Branch, unless indicated otherwise.

  How fast can I have access to my account?                                                                       

  If approved, the overdraft will become available to you the working day following the signing of the contractual documentation at the latest.

  I already have a sight account (current account with no limit). Can I convert this to an overdraft account?

  Yes you can, by applying at your servicing Branch. By applying through Digital Channels, you will open a new account.  

  Can I have a debit card connected to my new overdraft?

  You will have the choice to apply for a new debit card (Visa or Mastercard) through your application (Terms and conditions apply).

  I am not a customer of the Bank. Can I still apply?

  Yes. You can download the BoC mobile app and register. Then, you will be able to connect to 1Bank (Terms and conditions apply). You can apply for this facility either via 1Bank or via the BoC mobile app.

  Useful information on the right to withdraw from the agreement

  • Within five business days from the date of the agreement conclusion, when the facility is secured with a mortgage on a house
  • Within 14 calendar days from the date of the agreement conclusion when the facility is provided without any guarantees/securities or is secured with personal guarantees.
• For QuickCar- Hire Purchase

  What is the interest rate?

  Learn more on out interest rates here.

  What is the maximum duration?

  The maximum repayment period is 7 years for.  For electric or hybrid cars with emissions <50g CO2/km the maximum duration is 8 years

  Is there a customer contribution?

  Minimum contribution of 15% for a new car.

  Are there any other benefits?

  You can benefit from a 10% discount on the interest rate of the Fil-eco Energy Loan, for the purchase of photovoltaic systems, if you have already been approved for Green Car Hire Purchase.

  FAQs for Quick Car - Hire Purchase

  How do I know if I am eligible to apply?

  The facility is offered to permanent residents of Cyprus only. If you are not a permanent resident of Cyprus for the last year, contact your servicing Branch to find out your options.

  How can I check the status of my application?

  You will be informed via a message on your mobile of your application status.

  Can I add a joint lessee to the facility?

  QuickCar products are available to one lessee. You can apply with a joint lessee through your servicing Branch.

  What supporting documents do I have to submit?

  You must submit the car invoice / quotation. A proof of income may be requested within the online procedure.

  Do I have to cover my car hire purchase with an insurance?

  No, you don’t have to. However, if you are interested in doing so, contact your servicing Branch. Terms and conditions apply.

  Are there any fees associated with the application?

  QuickCar products are offered without any initial bank charges (arrangement or documentation fees). You will have to pay stamp duty as per the relevant legislation which applies from time to time. 

  What does the automated assessment of my application, the automated decision-making and the automated processing of my personal data and profiling involve?

  Applications for QuickCar products are assessed electronically based on your creditworthiness, repayment ability and the Bank’s credit policy as applicable from time to time.

  The decision for the approval or rejection of the online credit application will be reached by processing your personal data using solely automated means (including profiling), without human involvement, and only after we have your explicit consent to do so.

  Profiling under this procedure involves the automated processing of your personal data to analyze, evaluate and predict your creditworthiness and ability to repay the facility.

  The Bank will use only the necessary information that will allow the assessment of your creditworthiness and repayment ability and to make responsible, fair and informed lending decisions.

  The Bank will use information that you provide, as well as information derived from the Bank’s internal sources (that is your personal and contact details, employment, income, expenses, family structure, spending habits, conduct on other accounts / facilities / guarantees / securities, payment arrears on other accounts / facilities, judgement debts, whether your personal data has been verified and updates for anti-money laundering purposes) and external sources (that is bankruptcy records, i.e. arrears, non-performing facilities and judgement debts at other banks from Artemis Credit Bureau).

  The application may also be automatically referred to the Bank for further evaluation by an officer.

  Do I have the right to object to the automated decision?

  Yes, you have the right to request re-examination of the application by a Bank’s officer by contacting your servicing Branch. 

  Can I withdraw from the application process at any time before submitting it or after a decision is reached by the Bank?

  You can withdraw your application at any time. If you have entered any information, you have the choice to save it and resume with the application at a later stage or discard it. If you choose to discard it, the information you entered will not be saved. Your application will be automatically discarded if you remain inactive for 15 days.

  If a decision is reached by the Bank, you can still withdraw your application at any time before entering into a contract for the granting of the facility. This does not affect your other rights regarding the processing of your personal data.

  How is Bank of Cyprus protecting my privacy and handling my personal data?

  The Bank is committed to protecting your privacy and handling your data in an open and transparent manner. You can learn more in the Bank’s Privacy Statement, where you can also find further details on your rights, for example your right of access, right to request correction / rectification, the right to lodge a complaint etc.

  What happens after approval?

  After approval you will be notified for the preparation of the contractual documentation for the granting of the facility via a message on your mobile. The signing of the contractual documentation will take place at your servicing Branch, unless indicated otherwise.

  How will the dealer be paid?

  The Bank will deposit the amount of the hire purchase facility directly into the account of the car dealer. 

  Can I change my mind?

  Once the contractual documentation is signed and the amount of the hire purchase facility is used to pay the car dealer, you cannot withdraw from the contract.

  What is the Annual Percentage Rate (APR)?

  The Annual Percentage Rate of interest (APR) is the total cost of the credit facility expressed as an annual percentage. The APR is provided to help you to compare different offers. The APR includes all credit facility expenses paid by the client to either the Bank or to third parties (e.g., government fees etc.).

  I am not a customer of the Bank. Can I still apply?

  Yes. You can download the BoC mobile app and register. Then, you will be able to connect to 1Bank (Terms and conditions apply). You can apply for this facility either via 1Bank or via the BoC mobile app.

   

  Useful information for the financing

  Do I have an option to repay my financing earlier, should I wish to?

  Yes, you may repay the financing earlier with no charge.

  What is the financing method?

  Financing with Hire Purchase.

  • When your application is approved the car is transferred to the Bank of Cyprus and to your name and the seller is paid 
  • When the financing amount is fully repaid, the car is transferred to you after you pay the amount of €50 to the Bank for the right to purchase. The right to purchase is incorporated in the last instalment. 

  Are there any other Hire Purchase options, other than the purchase of a car?

  There are Hire Purchase options available for the purchase of used cars, equipment or motorcycle (new or used). For more information contact any Relationship Officer in our Brach Network.