Slovenian banks NLB and Addiko extend initiative for converting Swiss franc loans to euros

By bne IntelliNews April 9, 2024

Slovenian banks NLB and Addiko have introduced a special initiative aimed at supporting socially vulnerable borrowers with loans denominated in Swiss francs.

Announced by the Association of Banks of Slovenia (ZBS) on April 8, the offer allows borrowers of Swiss franc loans to convert their existing loans into euro-denominated loans through the signing of a new loan agreement.

This offer is specifically targeted towards borrowers who are or may become eligible for various forms of social assistance and fall within the seventh income class based on the average monthly income per person in the household, which is currently set at €1,051 or lower.

To qualify for the offer, borrowers must receive their income in euros and maintain permanent residence in a country with the euro currency. Additionally, the offer applies to credit agreements in Swiss francs that have not been terminated and whose credits remain outstanding, provided that neither party is involved in personal bankruptcy or enforcement proceedings.

For the new euro-denominated loans, borrowers can opt for either a variable interest rate based on Euribor or a fixed interest rate offered by the bank at the time of signing the new loan agreement. 

The special offer will be available for a duration of 12 months, from April 8, 2024, to April 8, 2025.

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