Bancpost has launched the mortgage with layoff risk insurance policy called "Safe at home", with a fixed interest rate of 7.95% and fixed monthly payments for the first three years, according to a press release by the bank.
The product also ensures the payment of up to 12 installments in the event the borrower is laid off during the first three years of the loan, and includes a life insurance policy for the entire duration of the loan, with the insurance premiums being paid by the bank. The maximum duration of the loan is 35 years, and the monthly administration fee is zero.
Bancpost is a member of the Eurobank EFG Group, an European banking institution with total assets of 84.3 billion Euros as of September 2009. The group has a strong market presence in Greece, Bulgaria, Serbia, Romania, Turkey, Poland, Ukraine, Great Britain, Luxemburg and Cyprus.