Banks

There are several major banks in Cyprus, local banks and international banks having branches in Cyprus available for mortgage loans after the property investor has chosen a suitable home, Alpha Bank has low interest mortgages and only require a twenty percent deposit on select home through Alpha Panareti and Universal Realty.

Many Cyprus banks have ATM'S (automatic teller machine), enabling you to draw foreign currency while you stay in Cyprus.

If you open a bank account in one of Cyprus's banks, you are advised to compare commission rates for money transfer to and from Cyprus.

In most of the banks in Cyprus you will find a few English speaking employees, the best chance is in the foreign exchange section of the bank.

In recent years banks have expanded their activities beyond traditional banking and their services include insurance, leasing, hire purchase finance, factoring, mutual fund management, investment and consulting as well as custody and asset management services. They have also developed new products and services through electronic means or electronic access, using alternative distribution channels such as the internet, call centers, etc.

Banks are located in the main Cities in Cyprus including:Paphos, Famagusta, Kyrenia, Guzelyurt, Larnaca, Agia, Napa and Limassol.

Alpha Bank is currently offering low interest mortgage loans on properties purchased through Alpha Panareti and Universal Realty including homes purchased from the new offplan developments of St George Hills, Thalassa View Gardens and Chloraka Terrace in the Paphos area of Cyprus.