Green Mortgage/Home Improvement Loan with Collateral for Photovoltaic Systems

A mortgage/home improvement loan that enables you to purchase and install photovoltaic systems for own consumption (net metering) The interest rate varies with the Euribor 1M rate plus a fixed spread (3.95%) for the entire term of the loan.
INTEREST RATE
Variable
Euribor 1M + a 3.95% spread + Law 128/1975 levy
DURATION
Up to 25 years
LOAN AMOUNT
From €10.000

RESTRICTIONS
  • Low interest rate
  • Long repayment period

5 more reasons to get a Green Loan for Photovoltaic Systems

 1.  Reduction of electricity consumption expenses

Installing a photovoltaic system for own consumption (net metering) you can lower electricity consumption expenses, you currently pay at home.


 2.  Flexible procedures

We help you get easy, rapid financing to achieve your goals. Faced with critical decisions to this end, you will also get our support in terms of the necessary know-how.


 3.  Green services

Designed to address your needs, the green points of service at all branches in our network offer you useful services to complement or add value to your project.

Green services for Personal Banking


 4.  Energy and cash savings

Your property will have lower energy expenses, enabling you to recoup your investment cost in shorter period of time.


 5.  The right thing to do for the environment

The Green Mortgage/Home Improvement Loan enables you to achieve 2 objectives at once: To get an energy-efficient home and to help protect the environment.

Advantages

Why get a Green Home Improvement Loan with Collateral to install a Photovoltaic System.

To buy and install a photovoltaic system for own consumption (net metering)


Preferential terms

  • Competitive variable Euribor 1M rate + a 3.95% spread
  • Extensive financing
  • Long repayment term of up to 25 years
  • Zero loan approval fees
  • Enhanced cash flow to cover your immediate needs


Instant quote

  • Visit any Piraeus Bank branch
  • Call us on 18 28 38, 24/7



Features

Loan amount

From €10,000 up to 100% of the budget for the quote/pro forma invoice from the photovoltaic system supplier/fitter + additional cash of €2,000.



Interest rate

The interest rate varies with the Euribor 1M rate plus a spread of 3.95% that remains fixed for the entire term of the loan.

To buy and install a photovoltaic system on the roof of business premises, the spread is 4.95%.

Interest rates are also subject to the Law 128/1975 levy. Today it stands at 0.12% for homes and 0.6% for business premises.



Loan term

2 to 25 years.



Disbursement

Lump-sum or in instalments depending on the quote/pro forma invoice from the photovoltaic system supplier/fitter.



Grace period

We can offer grace periods for 4 to 6 months



Repayment

In monthly instalments that repay:

  • Interest, capital and premiums
  • Interest and premiums only if there is a grace period
Instalments are paid automatically from your deposit account.



Early repayment option

You can repay all or part of the sum early at any time.

If you plan to pay off the entire amount, an administration fee is payable in line with the Bank’s pricelist.



Collateral

Collateral can either take the form of a mortgage lien on the property or a pledge of cash or securities.



Mandatory insurance coverage

  • Fire and Earthquake Insurance for the property for an insured capital equal to the cost of building the property
  • Life and permanent total disability insurance for one of the borrowers, for an insured capital equal to the approved loan limit
  • Premiums are payable each month along with the loan instalment


Insurance options

The Payment Protection Plan comes as an option. This form of insurance coverage provides compensation for:

  • Dismissal or temporary disability due to accident or illness, for full-time, private sector employees with a contract
  • Hospital treatment and temporary disability due to accident or illness for freelance professionals, civil servants and part-time private sector employees with a contract

The compensation guarantees that:

  • Your mortgage loan instalments will continue to be paid as normal for a set period
  • Your insurance coverage will apply for the remainder of the plan, if you opt to continue it, even though you have fully or partially repaid the loan