ECONOMY

Holiday packages, debt cut for reliable borrowers

holiday-packages-debt-cut-for-reliable-borrowers

National Bank of Greece intends to reward its reliable borrowers with free holidays at popular destinations, extra points in its card use reward program, as well as discounts on other products, such as insurance policies with cooperating insurers.

The bank’s initiative on the sensitive issue of easing pressure on consistently paying clients aims at reducing the feeling of injustice felt by those who meet their obligations to the bank in spite of the financial crisis.

This move by NBG is expected to shift the debate from banks’ problematic portfolios and encourage similar moves by rival lenders too.

Kathimerini understands the NBG initiative is targeted, as it goes one step further than the universal program of point rewards, offering additional benefits.

The program is in its final stage of planning and National is expected to launch it by September.

The benefits for reliable customers could reach up to the forgiveness of one monthly installment per year and will depend on the options the bank’s management decide on from among a series of alternatives on the table, while the program will set strict conditions for the inclusion of borrowers in the category of those to be rewarded.