Interest-free loans among relief measures for fire victims

The Bank of Cyprus has announced a comprehensive package of relief measures to support residents and businesses in the mountainous areas of Limassol affected by the recent wildfires.

The measures follow the earlier announcement by the Association of Cyprus Banks and are aimed at providing immediate relief to those impacted and facilitating the swift restoration of damaged properties.

“The Bank of Cyprus is expressing its support for the citizens and businesses of mountainous Limassol affected by the recent fires by implementing a framework of measures aimed at immediate relief and the rapid restoration of damages,” the bank said in its statement.

In addition to the mobilisation of the bank’s SupportCY volunteer corps, which assisted from the very first moment by supporting state efforts to protect lives and homes and by strengthening fire defences in threatened areas, the bank is now rolling out financial support options.

One of the main measures is the offering of interest-free loans of up to €5,000 for a three-year period, available to existing active clients of the bank, including individuals and small businesses.

These loans are intended to cover immediate needs or damages to properties caused by the fires.

Applications must be submitted by September 30, 2025.

The bank is also offering the option of suspending loan instalments for up to six months for households and businesses directly affected and covered by the government’s support measures.

This payment deferral is only available for loans that are currently being serviced.

Additionally, the bank is offering low-interest housing loans to individuals to assist in the restoration of damages to their properties, with the option to choose a fixed interest rate.

For businesses, the bank will provide loans with special terms to support the recovery of operations and repair of damages incurred from the wildfires.

As part of the relief framework, foreclosure procedures will be suspended for six months for affected individuals and businesses falling under the government support schemes.

To access these relief measures or to request further clarification, affected households and businesses are invited to contact Bank of Cyprus at 25-156000, Monday to Friday between 07:30 and 18:00, or via email at [email protected].