Bridge (Gefyra) Programme

The rate and maximum amount of subsidy, as well as other programme parameters, depend on the subsidy category you belong in. There are 3 subsidy categories:

• 1st subsidy category: Performing loans without arrears or loans with debts up to 90 days past due on 29/02/2020.
• 2nd subsidy category: Loans with debts over 90 days past due on 29/02/2020.
• 3rd subsidy category: Denounced loans on 29/02/2020.

For detailed information about the subsidy categories, refer to Law 4714/31.07.2020 (only available in Greek).

To be included in the subsidised instalment programme, the following key conditions must all apply, among other things:

• You must be a natural person proven to have been affected by COVID-19, either yourself, your spouse or a dependent member, and you must have been included in the measures taken to address the COVID-19 consequences.  If your loan is denounced and there are co-debtors or guarantors, they too must have been affected by COVID-19.
• You must have a right in rem, exclusive or a fractional share, full or bare ownership, or enjoyment on the property that is your primary residence. The property must be located in Greece.
• You must not have been included in any of the following laws for your loan:
  • Settlement of Law 4605/19 for the protection of primary residence (only available in Greek).
  • Settlement of Law 4307/2014 for debt settlement of small businesses (only available in Greek).
  • Article 99 of Law 3588/2007 (insolvency code, only available in Greek).
  • Extrajudicial debt settlement for businesses under Law 4469/2017 (only available in Greek).
• There must be no Greek State guarantee or other active state aid in place for debt subject to State contribution.

You must fulfil the eligibility criteria of Law 4714/2020 with regard to all the real estate owned by you, your spouse and your dependent members, the taxable value of your primary residence at the time the application was submitted, your family income, your bank deposits, your financial products and the total outstanding principal of the debt per creditor.

Find useful information about the subsidised instalment programme and the conditions for receiving the subsidy on the website of the Special Secretariat for Private Debt Management.

The programme subsidises up to 90% of your loan instalment, with a maximum subsidised amount of €600 per instalment, for 9 months. The subsidy rate changes every 3 months.

The rate and maximum amount of subsidy, as well as other programme parameters, depend on the subsidy category you belong in. Specifically:

Loan instalment subsidy

For the first time ever the programme offers you a state subsidy on your loan instalment for up to 9 months and up until December 2021.

The subsidy may reach up to 90% of your loan instalment for the first 3 months or up to the amount of €600 per instalment for the entire duration of the subsidy, depending on the subsidy category you belong in:

• 1st subsidy category: Up to 90% instalment subsidy, with a maximum amount of €600.
• 2nd subsidy category: Up to 80% instalment subsidy, with a maximum amount of €500.
• 3rd subsidy category: Up to 60% instalment subsidy, with a maximum amount of €300.

For business loans, the State’s contribution must not exceed the limits of the Regulation on the de minimis aid that applies from time to time.

Tiered subsidy

The instalment subsidy will change every 3 months depending on the subsidy category you belong in:

• 1st subsidy category
  • 1st quarter: 90% of the instalment
  • 2nd quarter: 80% of the instalment
  • 3rd quarter: 70% of the instalment
• 2nd subsidy category
  • 1st quarter: 80% of the instalment
  • 2nd quarter: 70% of the instalment
  • 3rd quarter: 60% of the instalment
• 3rd subsidy category
  • 1st quarter: 60% of the instalment
  • 2nd quarter: 50% of the instalment
  • 3rd quarter: 30% of the instalment

Approval and commencement of subsidy

The subsidy will apply once you submit your online application on the programme platform and provided you have settled any overdue debts. Specifically:

• If you are a performing borrower, the subsidy will apply as of the next instalment following the approval of your application to be included in the programme.
• If the loan is in arrears or denounced, for the subsidy to commence, your overdue debts must, provided you have not repaid them, either be added to your loan principal (capitalisation) or be settled in cooperation with the bank. The settlement must be concluded by 31/03/2021, according to the 3-month extension effective as of 01/01/2021.

If you are eligible for the Bridge Programme and you have already received a moratorium on payments for the debts for which the Programme’s contribution is approved, you may choose to:

• Discontinue the moratorium so the contribution may start being paid.
• Defer the contribution payments until the moratorium you have received is concluded.

The moratorium on your debts may be further extended once your debt is deemed eligible.

Whatever the case may be, the contribution cannot be paid for a period longer than 9 months starting from 31/03/2021.

A tax or insurance clearance certificate is not required to approve and pay the contribution. The State’s contribution is paid every month in the unseizable loan account for your debts sent on the programme platform.

The contribution can be neither seized nor netted. The account is only credited by the State with the contribution amount and is charged only for the crediting of the loan account.

Subsidy monitoring

Through the Eurobank e-Banking and the Eurobank Mobile App you can monitor the activity of your unseizable account, where the subsidy is paid. So you can stay up to date on the share of the instalment paid by the State quickly and easily.

In the My Day-to-Day Banking section, you can view your Special unseizable account. Choose VIEW to view the transaction log of this account.

You may also download a copy of the account activity. You cannot carry out any transactions through this account.

The deadline for submitting applications for inclusion in the programme expired on 31/10/2020. If you have any overdue debts , these are capitalised or you have to settle them with us, depending on how long past due they are.

1. Online application

Submit your application online on the platform of the programme for instalment subsidy for loans secured by a primary residence (General Secretariat of Information Systems for Public Administration):

1. Log in with your TAXISnet credentials.
2. Fill in the required information about you and your primary residence. If you have a spouse or dependent members or have entered into a cohabitation agreement with another person, fill in their details as well.
3. Declare your primary residence.
4. Declare your bank deposits and investment products abroad.
5. Submit your application.

You can only submit one application.

2. Consent of family members

Your eligibility is assessed based on a family level. That is why your family members (spouse, person you have entered into a cohabitation agreement, dependent members) must consent to having their tax confidentiality lifted.

You will receive a notification to this effect.

In order to consent, your family members must log in to the programme platform with their own TAXISnet credentials.

3. Αντιστοίχιση κύριας κατοικίας με προσημείωση

3. Matching of primary residence used as collateral Through the programme platform, we receive the details of your application.

We match your primary residence to the property linked to your loan. You receive an email informing you that the property has been matched.

If we cannot match the property based on the information we have, you receive an email informing you that you need to match the property through the programme platform. 

1. Log in with your TAXISnet credentials.
2. Match your primary residence to the property linked to your loan.

The property must be matched within 10 days from the date you were notified by email. Otherwise your application is cancelled.

4. Pre-approval of State subsidy

Based on the information you filled in your application, the programme platform performs an initial check of your eligibility. It identifies debts that can be included in the subsidy programme.

Provided the criteria are met, the programme platform automatically pre-approves the State subsidy and notifies the bank.

5. Opening of an unseizable account

An unseizable account is opened through the bank. The subsidy for your loan instalment will be credited to this account.

You receive the IBAN of your unseizable account on the programme platform.

6. Settlement of overdue debts (if required)

If you have unpaid instalments on your loan, they need to be settled before you can be included in the subsidy programme. Otherwise your application is cancelled.

Specifically, if you loan is in arrears:

• Up to 90 days past due and you do not pay off your overdue debts in their entirety, these are added to the principal of your loan and divided into the remaining instalments.
• From 91 days past due and over and you do not pay off your overdue debts in their entirety, we proceed with debt settlement, after talking to you, until 31/03/2021.

To settle your debts, you submit a debt settlement application:

• Over phone on +302104847500.
• At any Eurobank branch.

We assess your application and, if approved, we sign the agreement for your debt settlement, so it may be concluded within the deadline specified in the programme.

Your loan repayment schedule is sent to the programme platform.

7. Approval and inclusion in the programme

The final checks are performed. Provided your eligibility criteria are met, your application is approved.

You receive confirmation through the programme platform, informing you of your inclusion in the programme.

8. Payment of subsidy and supervision

The State pays the subsidy amount for each one of your loan instalments to the bank, until the end of the subsidised period. Through the programme platform, you are notified that the amount has been credited in your unseizable account.

You must consistently pay your loan instalments and any other debts related to it (fire/earthquake insurance, life insurance, etc.) for as long as you are receiving the subsidy and for a period of 6 to 18 months after that. Otherwise, the subsidy is discontinued and you will be required to return the subsidies you already received.

Περίοδος επιδότησης και περίοδος επιτήρησης

It is necessary to pay your loan instalments and any other debts related to it (fire/earthquake insurance, life insurance, etc.) correctly and on time, both during the subsidised instalment period and during the supervised period.

The supervised period starts as soon as the subsidy ends. The duration depends on the subsidy category your belong in:

• 1st subsidy category: 6-month supervised period.
• 2nd subsidy category: 12-month supervised period.
• 3rd subsidy category: 18-month supervised period.

If your loan instalment is not monthly (e.g. instalment due every 3 months), the supervised period is 12 months, irrespective of the subsidy category.

Failure to pay the instalments

If you fail to pay your loan instalments during the subsidised and/or supervised period, the subsidy is discontinued automatically, provided the rest of the conditions for discontinuing the subsidy based on Law 4714/2020 apply.

You will also be required to return to the State the subsidies you already received up until that time, including any corresponding legal interest.

Does the programme relate to my first home or my primary residence?

Your primary residence, meaning the home you occupy as an owner.

No, she can’t. To apply, the spouse must be a party to the loan as a debtor, co-debtor or guarantor.

However, if your spouse or a dependent family member is proven to have been financially affected by the pandemic and has been included in at least one of the state support measures for COVID-19, you can submit an application for inclusion in the programme.

The only condition is that you are a party to a loan secured by the primary residence and you meet all the remaining eligibility criteria.

The programme offers you indirect protection of your primary residence. To be included in it, you must settle any overdue debts you may have. By receiving the subsidy, it is easier for you to repay your instalments.

However, note that in case you are unable to repay your loan in the long term, the bank may possibly commence procedures to sell the property, as a last resort.

Your inclusion in the programme does not prevent this alternative.

No. The same individual cannot submit a second application nor can another co-debtor submit an application for the same loan.

If one of these loans has been denounced, you automatically belong in the 3rd subsidy category.

If none of the loans have been denounced, your subsidy category is determined based on the loan with the highest outstanding balance.

For detailed information about the subsidy categories, refer to Law 4714/31.07.2020.