Features An annual Credit Limit (CL) is extended to the farmers to cover the annual needs for their activities. IDEAL FOR Farmers aged 18-70 (at loan maturity), who: Are beneficiaries of Single Payment Scheme (SPS) subsidies Provided that the SPS subsidies are deposited in a Piraeus Bank account. ESSENTIAL PREREQUISITES The credit line depends on the type of crops or livestock and their size. INTEREST RATE The interest rate for the Working Capital for Farmers is variable for the entire term of the loan: currently at 7.10% (BRF: 7.10%) plus the Law 128/1975 levy, currently at 0.12% or 0.6% depending on the farmer’s main business activity. The interest rate is linked to the Base Rate for Farmers index, currently at 7.10%, which follows the market trends and is announced in the Press. DURATION The limit is valid for one year with an one-year extension option. LOAN AMOUNT up to 90% of the eligible CL REPAYMENT METHOD The capital may be repaid at any time during the credit line period. Repayments should equal to at least 50% of the received subsidies, product sales and other compensation. OTHER FEATURES -Collateral Pledge of the Farmer Account to which the annual subsidy is credited, mortgage lien on property. -Interest calculation -Every 6 months, on 30/6 and 31/12. Interest is capitalised.