
Business Banking
Used Car Loan for Business
INTEREST RATE
7.60%
- Interest rates on loans vary according to the contribution
- Applicable for amounts up to €50,000
- View interest rates
APR
8.42%
APR is calculated based on the representative example shown below
LOAN TERM
1 – 7 years
Flexibility options:
You can choose to repay your loan earlier than your agreed repayment schedule, partially or fully
*In case of early loan repayments, there is the possibility of a prepayment fee. See the relevant formula in our Commissions and Charges table
What securities are requested for a Used Car Loan?
Insurance for the used car
Additional information:
Initial charges:
- A processing fee of 1% of the amount of the facility, with a minimum fee of €150, will be charged at the opening of the facility
- Documentation fees of €100 are applicable to all facilities (Micro, SMEs, Corporate)
- For more information about our charges, you can view our Commissions and Charges table
You can view all rates here
Representative example:
At Ancoria Bank, we want to make sure you have all the information you need at all times. We’ve provided a representative example, that you can use as a guide.

CONTRIBUTION

LOAN AMOUNT
€20,000

PRICING
7.60%

APR*
8.42%

LOAN TERM

INITIAL CHARGES

MONTHLY INSTALLMENT
€308

TOTAL AMOUNT PAYABLE
€26,187
IMPORTANT INFORMATION
* APR (Annual Percentage Rate) has been calculated on 10/07/2023 and is based on the following:
- Interest Rate: BBRB as at 10/07/2023 was 1.80% + margin 5.80%
- Initial charges: Processing fees of 1% charged on facility amount (€200) and documentation fees of €100
- Loan amount of €20,000
- Loan term of 7 years
Warning: If you fail to meet your loan repayment plan secured by mortgage, your home/property may be repossessed.
Warning: There are charges for early loan repayment (Find out more at the links: Commissions and charges & Prepayment penalty for fixed rate loans).
Warning: In case of variable interest rates, the installment amount and total cost of the facility may increase or decrease depending on variations in the base rate.
Disclaimer: Ancoria Bank Ltd may at its choice, reject an application/business relationship for legal, regulatory or other reasons and withdraw or amend any plan, at any time.
Get Started
Make an appointment
What you need to have
Required documentation:
CYPRIOT RESIDENTS
- Passport or National Identity card
- Original recent utility bill (less than 6 months old) / OR statement of EEA bank / OR local authority tax bill / OR house insurance
NON-CYPRIOT RESIDENTS
- Copy of a valid ID / Passport certified as a true copy by a state authority
- If you are temporarily residing in Cyprus and are a non-EU national, please supply a copy of your Temporary Residence Permit
If you have any questions, or simply need some help to get started

Call us on 8000 0050 or +357 22849000