Stimulus to success - interest paid
The interest depends on the purpose of the loan, and is a floating one.
In the first half of the repayment period, the borrower pays the fixed interest rate, whilst the Ministry of Tourism subsidises the difference between the contracted rate and the one payable by the end-borrower.
In the second half of the repayment period, the subsidised portion of the interest rate is fixed, apart from the "Under the Ancient Roofs" Programme, where the subsidy differs over the first ten years into repayment and afterwards, and the difference between the contracted interest rate and the fixed interest rate (subsidised by the Ministry) is paid by the borrower.
Additional interest subsidies
- of 1 percentage point if the accommodation facilities are located in the area of special state concern and on the islands allocated into the first category (according to the Act on the Areas of Special State Concern and the Islands Act), or in case of investment in the continental areas save for areas of towns with population equalling and exceeding 20 000.
- of 0.5 percentage points, on condition that the total investment foresees one of the following complementary offers: outdoor or indoor pool, or tennis court. Instead of one of the above facilities, the following will also be eligible for additional interest subsidy: gym and sauna; playground or petanque court.