Before proceeding with filling the fields of your application please study the guidelines for the correct entry of significant fields.
Net Monthly Income:
To complete this field, please consider the following:
• Your net monthly salary (include your spouse’s, if he/she is proposed as a guarantor), after tax, social security and any other deductions, PLUS
• Any other documented / fixed / recurring monthly earnings such as social benefits, pensions, alimony, income from assets.
To complete this field and provided that the spouse is proposed as a guarantor, please state the average monthly expenses of the household, as follows:
• Utilities and Taxes (electricity, heating, phone, mobile, internet, TV, water, sewerage, refuse collection charges, municipality charges, landline, etc),
• Property tax and other (immovable property taxes and other expenses),
• Insurances (house insurance),
• Household Expenditure (rent & common expenses, , maintenance / house repairs childcare / elderly care, supermarket expenses, clothing and footwear),
• Transport Costs (fuel, road tax, car parking, car insurance, car maintenance / repairs, school transport costs for children, other),
• Education (school fees, uniforms and books, extra-curricular activities, other education expenses),
• Medical Expenditure (doctor fees, medication, medical insurance, other),
• Social Expenditure (social expenses, membership),
• Other Property (monthly expenses, maintenance, other property expenses),
• Other Expenditure (life insurance, investment plan and pension insurance, alimony, subscriptions and donations, monthly savings, loans or other amounts due to non-financial corporations, other household expenses).
If the spouse is not proposed as a guarantor, then the monthly household expenses should be completed proportionately that is, divided in half.”
Total of Current Instalments:
Fill in the field if there is no other borrowing relationship with Bank of Cyprus.
To complete this field, please state the total monthly instalments of any existing facilities that you may have in any other Credit Institutions either as a borrower or as a co-borrower (loan instalments, overdraft and credit card payments).
Please note that the monthly payment of the overdraft account or credit card is calculated as follows: Initial limit multiplied by interest and divided by 12.