Loan “Land and Equipment”

Loan for farmers in order to they buy land and agricultural equipment for private farmer financing
DESCRIPTION
A loan to:

Buy land and agricultural equipment

Construction of agricultural buildings

Purchase of plants and farml animals
IDEAL FOR
Farmers,
aged 18-70
INTEREST RATE
Variable based on the BRF
DURATION
To purchase agricultural equipment: duration up to 10 years

To purchase land and construction of agricultural buildings: duration up to 15 years

To purchase plants: duration up to 8 years

To purchase farm animals: duration up to 6 years
REPAYMENT
In monthly, 3-monthly, 6-monthly or annual instalments
FINANCING
AMOUNT

From €5.000 and up to 80% of estimated value of the mortgaged property

Features

DESCRIPTION

The financing of farmers for:

  • Buy land and agricultural equipment
  • Construction of agricultural buildings
  • Purchase of plants and farm animals


IDEAL FOR

Farmers, aged 18-70 (in the end of loan). The loan is available to all farmers, regardless of whether:

  • If they are beneficiary any form of subsidy and
  • If they have declared their account in our Bank, as unique account of deposit of subsidy



INTEREST RATE

Variable based on the BRF



DURATION

  • To purchase agricultural equipment: duration up to 10 years
  • To purchase land and construction of agricultural buildings: duration up to 15 years
  • To purchase plants: duration up to 8 years
  • To purchase farm animals: duration up to 6 years


LOAN AMOUNT

From €5.000 and up to 80% of estimated value of the mortgaged property



REPAYMENT METHOD

  • Monthly, quarterly or semi-annual or annual installments
  • If you take a period of grace, you only pay the interest due and insurance premiums
  • The payment via standing order from account of deposit


You may choose the repayment frequency:

    Monthly Quarterly Semi-annual or Annual installments


Grace period: up to 1 year.



OTHER FEATURES


Loan evaluation fee

  • One – off fee €200
    (it does not include expenses for: valuation, due diligence, court appearance and mortgage registration, etc., according to the bank Pricelist).

Collateral

  • First Mortgage lien equal to 125% of the loan amount
  • Second Mortgage lien (the first should be in favour of Piraeus Bank) equal to 125% of the loan amount
  • Cash collateral or pledge on securities


Full or partial early repayment

You may repay all or part of your loan “Land and Equipment” at any time and with no penalty.


Insurances

  • Obligatory insurance of mortgaged property for FIRE and EARTHQUAKE, for secured capital equal with the constructional value of property
  • Obligatory insurance of borrowers for illness or accident of LIFE, according to the terms of existing insurance contracts