Feb 19 • 06:33 UTC 🇬🇷 Greece Naftemporiki

Loans in Swiss Francs: The application process and categories - A guide with questions and answers

A new online platform for borrowers with loans in Swiss Francs is now operational in Greece, allowing for conversion of these loans to euros under specific terms.

A recently launched online platform in Greece is designed for borrowers with debts in Swiss Francs, as announced by the General Secretariat of the Financial Sector and Private Debt Management. This platform provides a certification that categorizes the borrower according to their repayment situation with Swiss Franc obligations. It serves those borrowers whose loans are being repaid normally or have been restructured, facilitating their transition to euros.

Through this digital service, many borrowers will benefit from favorable terms for converting their Swiss Franc loans to euros. The certification process defines three categories that determine the conversion conditions, ensuring that borrowers can obtain better exchange rates and fixed interest rates in the process. Specifically, Category 1 offers a conversion rate 50% better than the current euro-Swiss Franc rate, along with a stable interest rate of 2.3%.

This initiative represents a significant effort by the Greek authorities to assist borrowers affected by fluctuations in the Swiss Franc currency and aims to stabilize their financial obligations. It underscores the government's recognition of the challenges faced by these borrowers, providing them with the opportunity to make their loans more manageable amid evolving global economic conditions.

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