Overall, the Bank of Cyprus returned €2.2 million to consistent mortgage borrowers, implementing the reward plan it had announced.
Specifically, reward points totaling €2.2 million were credited to the accounts of consistent borrowers and apply to over 12,000 mortgages of the Bank.
Borrowers can use their reward points whenever they wish, redeeming them for purchases from participating stores in the reward program, which include over 280 merchants from all sectors of the economy.
Specifically, the Bank has contributed proportionally, 25,000 reward points per remaining loan balance of €100,000 (corresponding cash value €250) to the average loan balance during the period from June 30, 2023, to December 31, 2023.
For example, a Mortgage holder with a balance of €95,000 on June 30, 2023, and €85,000 on December 31, 2023 (average: €90,000) was credited with 22,500 reward points, equivalent to purchases worth €225.
Borrowers have already been informed of the crediting of reward points via SMS, through an announcement on the bank’s website, and via the 1bank service.
At the same time, they can view their points through the BoC Mobile App, 1bank, and the reward program application.
The Director of Retail Banking, Theodosios Theodosiou, commenting on the implementation of the commitment, emphasized that “at Bank of Cyprus, we recognize that the increase in the cost of living has burdened the household budgets of our borrowers.
The benefit of rewarding consistent borrowers is not one-dimensional, as it both enhances their purchasing power and indirectly supports the business customers of the Bank who participate in the Reward program.”
For more information, interested parties can refer to the Bank’s website.
