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The Restructuring Scheme "Estia" is a special governmental scheme prepared by the Government and was approved by the European Commission’s Directorate-General for Competition.

The Bank is pleased to announce that will participate in the Scheme.  

Purpose / Principles

The purpose of the Scheme is to support borrowers with non-performing loans through significant reduction of their debts and to protect borrowers’ primary residence.

Borrowers, at the end of each year, will receive a Governmental grant equal to one third (1/3) of their loan installments (interest and capital), provided that they repay to the Bank the remaining two thirds (2/3) of their monthly installments (interest and capital) of their restructured loan secured by the primary residence.

Eligibility Criteria

1. Credit Facilities Criteria:

The Scheme addresses credit facilities in all currencies, which meet the following conditions:

(a) Borrower had non-performing facilities with the Bank holding a first mortgage on primary residence, with a 20% contagion effect across all obligations of the borrower.

(b) The Market Value of the primary residence at the date of application does not exceed €350,000.

2. Applicants' Income and Property Criteria:

At the time of application, applicants must meet all of the following criteria, for joining the Restructuring Scheme "Estia":

(a) The applicant's total Family Income should not exceed the following for each calendar year 2017 and 2018:

1. €60,000 for a family of at least four dependents

2. the €55,000 for a family with three dependents

3. the €50,000 for a family with two dependents

4. the €45,000 for a family with one dependent

5. the €35,000 for a family with no dependents

6. € 20,000 for single person household.

Further, the above applies to single parent families as well.

(b) The household’s net wealth in market prices should not exceed, for each calendar year 2016, 2017 and 2018, 80% of the Market Value of the primary residence, as determined by its value, and should in no case exceed €250,000.

(c) The Applicant must be a Citizen of the European Union with legal and continuous residence in the European Union from 2013 onwards. Continuous stay shall not be interrupted if absent: (a) for up to one (1) month each year, (b) for treatment for health reasons, and (c) temporarily for study.


The Scheme is a unique opportunity to help vulnerable borrowers with financial difficulties to repay their loans whose collateral is the primary residence.

“Estia” Scheme offers important benefits to eligible borrowers: 

  • Reduce debt burden.
  • Payment of 1/3 of the installments of its restructured loan (interest and capital) by the Government.
  • Smaller loan installment and lower interest rate.
  • Lengthening of repayment period depending of the borrower’s age. 

Application submission

To be assessed for participation in the Scheme, applicants must fill out a standardized form.

To print the application form and the application guide click here: 

Application Form

Application Guide

* Please note that all documents are in Greek.

Applicants should submit their applications to the Bank, fully completed and accompanied by all the evidence specified therein, as described in the relevant application guide”. Applications will be assessed by the Bank and will be forwarded to the Ministry of Labour, which will take the final decision on whether to approve or reject the application.

Applications will be accepted from 02/09/2019 until 15/11/2019.

In case where a borrower does not meet the criteria for participation in the Scheme , the Bank is willing to offer alternative proposals for loan restructuring solutions.

More information

For more information, please visit Alpha Bank Cyprus Ltd in one of the following service points or contact us at the following telephone numbers:

  • Paphos Arrears Retail Division, 26880039
  • Nicosia Retail Banking Recoveries Division, 22885854
  • Limassol Main Branch, 25881000
  • Larnaca Main Branch, 24884000
  • Paralimni Main Branch, 23883300
  • Polis Chrysochous Branch, 26880940.

For any information on the final terms and conditions of the Scheme
Press here

We look forward to hear from you, so that together we can achieve the sustainable solution that suits your needs.
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