Hellenic Bank on Monday announced the launch of a new mortgage product offering fixed interest rates.

This has been rolled out alongside a new rewards programme that the bank described as “designed to make homeownership more accessible and manageable for customers”.

The mortgage features a fixed interest rate of 2.95 per cent for three years or 3.10 per cent for five years.

“This affordable interest rate, combined with the stability it offers, gives customers greater security and adaptability to their new financial circumstances,” the announcement explained.

Moreover, as part of the bank’s My Home Rewards programme, “customers also stand to benefit from cashback of up to €2,000 to furnish and equip their new home with products from partner retailers”.

The initiative is designed to reduce the financial burden associated with setting up a home.

“My Home Rewards has transformed the home-buying experience by offering cash, not points, so customers can create their dream home,” the bank said.

Additionally, Hellenic Bank recently reduced its base interest rate by 0.21 per cent to 1.91 per cent, a change positively affecting over 90,000 borrowers.

“The adjustment is expected to support households and businesses, aiding economic growth,” the bank said.