Collateral free Home Improvement Loan for Green Upgrades

Mortgage/home Improvement loan for interventions to upgrade the energy performance of your property and save water. The interest rate varies with the Euribor 1M rate plus a fixed spread (7%) for the entire term of the loan.
INTEREST RATE
Variable
Euribor 1M + a 7% spread + Law 128/1975 levy
LOAN TERM
Up to 10 years
LOAN AMOUNT
From €3,000
KEY ADVANTAGES
  • Low interest rate
  • Without collateral
  • Flexible financing procedures

5 more reasons to get a Green Home Improvement Loan

 1.  Preferential terms

The Green Home Improvement Loan assists you to make the upgrades you want and offers you low interest rate and a long repayment term.


 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

ress 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 home will save energy. This gets you both low overheads over the years to come and a fast amortisation of your investment.


 5.  The right thing to do for the environment

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

Which interventions are financed

We issue the Green Collateral-free Home Improvement Loan for Green Upgrades for interventions that improve the energy performance of your property and save you water. These include:


 1.   Interventions/upgrades to the building envelope
    • Install thermal insulation
    • Install thermal-insulating window frames (casing, windowpanes)
    • Install thermal-insulating roller shutters
    • Install sun-protection equipment - permanent exterior shades

 2.    Installation of electromechanical equipment

    • Replace an old burner/boiler with a new high-performance system or a heat pump
    • Install heat recovery units
    • Install an energy-efficient fireplace
    • Install thermal regulation systems (e.g. thermostats)
    • Install a small biological sewage treatment unit (for 2 to 10 people)
    • Install a greywater reuse and rainwater harvesting system

 3.    Use of Renewable Energy Sources (RES)

    • Install a photovoltaic system for own consumption (net metering)
    • Install solar water heaters for hot water
    • Install an RES heating/cooling system (e.g. geothermal energy, solar collectors, biomass)
    • Install small heat & power cogeneration units
    • Install small wind turbines
    • Install fuel cells

Advantages

Why get a Green Collateral-free Home Improvement Loan for Green Upgrades.

To finance interventions that will upgrade the energy performance of your property.



Preferential terms

  • Competitive variable Euribor 1M rate + a 7% spread
  • Extensive financing
  • Long repayment term of up to 10 years
  • 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 €3.000 to €40.000 and up to 100% of the budget for the upgrades + additional cash of €2.000.



Interest rate

The interest rate varies with the Euribor 1M rate plus a spread of 7% that remains fixed for the entire term of the loan.

For upgrades to business premises the spread is 8%.

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

From 2 to 10 years.



Disbursement

Lump-sum or in instalments depending on the quote/pro forma invoice or the project budget.



Repayment

In monthly instalments that repay interest, capital and premiums together.

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.



Mandatory insurance coverage

  • Fire and Earthquake Insurance for an insured capital equal to the loan amount
  • 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