Piraeus Bank – Miracle Mortgage Loan

Piraeus Bank LogoPiraeus Bank Bulgaria cuts by half the interest rate of Miracle mortgages for the first six months of the loan and introduces one year grace period on the principal.

Half Payments – For the first half year of the loan, the interest rate is fixed to 4.35% for loans in Euro and to 4.75% for loans in leva. The standard interest rate for the remaining period currently is 8.70% for Euro and 9.50% for leva. The maximum amount of the loan remains up to BGN 240 000 or the equivalent in Euro. The maximum repayment periods are one of the longest on the market – up to 30 years for leva loans and up to 25 years for Euro.

Promo interest rate for the first 6 months of the loan term:

  • 4,35% for EUR loans
  • 4,75% for BGN loans

For remaining period: 8,7% for EUR loans and 9,5% for BGN loans.

“In the first months after buying a new house, the clients need additional funds for furniture or some improvements and repairs. This is the reason we to decide to support them with “one year principal vacation” and decreased payments for the first six months”, Mr. Athanasios Koutsopoulos, CEO of the bank shares.

Flexible offer

Miracle loan could be used for purchase of a new house, repairs of an existing one or finishing works of a house that clients already acquired. The loans are repaid with annuity installments that give them the comfort to plan in long-term their financial obligations.

Additional bonuses

Together with Miracle loan, the clients of Piraeus Bank receive for free Piraeus daily banking package – savings account Piraeus Fair Play, debit card Visa Electron without annual fee and Internet banking.

Promotional Housing Loan Miracle

Miracles do happen !


  •  Maximum 240 000 BGN or the equivalence in EUR;
  •  Up to 70% of the market value of the property, depending on the loan purpose
  •  Up to 50% of the property market value for panel constructions

Purpose of Loan:

  •  Purchase
  •  Repair and finishing works
  •  Combined purpose


  •  up to 30 years for loan in BGN for loan for purchase;
  •  up to 25 years for loan in EUR for loan for purchase;
  •  up to 20 years for loan for Repair and finishing works in BGN and up to 15 years for loans in EUR;
  •  up to 10 year for loan for Repair and finishing works.

Grace period – promotional housing loan Miracle is granted with 12 months grace period on principal at the beginning of the loan

Collateral: First mortgage in favor of the bank

Interest Rates:

Currency BGN EUR
Interest rate

for the first 6 months

4.75% 4.35%
For the remaining period* 9.50% 8.70%

*The interest rate of the loan after the expiration of the promotional period is formed from the Base Interest Rate and a spread. Actual value of the Base Interest rate of the bank for loans in BGN is 7.50% and for EUR is 5.75%.

Loan repayment: annuity installments

Fees and Commissions:

  •  Application processing fee – 50 leva;
  •  Administrative service fees: 
    – 1.25% one time payment on granting of credit;
    – 0,065% of approved amount – monthly management fee
  •  Early redemption fee with: 
    – own resources: 2% of the early redeemed sum; 
    – funds, borrowed from other banks: 5% of the early redeemed sum for the first 5 years of the credit and 2% after the first 5 years.

Requirements for Loan receiver

  •  up to 70 years at the end of the credit period 
  •  Salary transfer into account opened in PBB required 
  •  Residual income on member of family after deduction of monthly payment
    400 BGN per working adult
    360 BGN per non-working adult
    300 BGN per child 7 to 18 y.o.
    200 BGN per child up to 6 y.o.

Insurance: Mandatory Property and Life insurance

ACR – 10,00% for housing loan with amount of EUR 50 000, loan term 20 years, of which 12 months grace period on the principal in the beginning of the loan, 4,35% interest rate for the first 6 months and 8.7% for remaining period for loans in EUR.

Offer validation – Promotional offer is valid for new applications for Promotional housing loan Miracle submitted in the period 04.03.2010 – 03.09.2010 .

More information about the Miracle Mortgage on Piraeus bank.

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