Reduction of Loan Interest Rates by Bank of Cyprus
September 13, 2024
Bank of Cyprus announced a reduction in its reference interest rate for loans from 4.25% to 3.65%, aligning with decisions made by the European Central Bank. This 0.60% decrease will immediately benefit nearly 8,000 borrowers by lowering their monthly payments. Additionally, reductions in mortgage interest rates are ongoing. Overall, loan interest rates in Cyprus have significantly decreased in recent months.