Program “Exoikonomo – Autonomo”

The new "Exoikonomo-Aftonomo" program was designed for the purpose of energy saving and autonomy through the introduction of new technologies in the residential building sector that characterize a "smart home". It is addressed to individuals whose main residence belongs to a low energy category.

The program provides financial incentives in the form of grants and subsidized interest loans, to the beneficiaries who wish to carry out significant interventions to their property, in order to achieve energy efficiency upgrade

The loan amount is co-funded by the Hellenic Development Bank and Piraeus Bank in a ratio of 1:2. The funds provided by the Hellenic Development Bank bear no interest and thus no levy of Law 128/75. The interest rate of the funds provided by Piraeus Bank is 100% subsidized by the Hellenic Development Bank. The levy of Law 128/75 is set at 0.08% and is paid by the Beneficiary.

Loan applications are submitted according to the deadlines set by the program.

INTEREST RATE
4,00%
(fixed rate, 100% subsidized for the entire duration of the loan) plus levy of L.128/75 (today set at 0.12% on the proportion of the loan amount funded by the Bank that is, 0.08%)
LOAN TERM
4, 5 or 6 years
LOAN AMOUNT
Up to €26.675
KEY ADVANTAGES
  • 100% subsidized loan rate
  • Grant on the cost of interventions
  • No loan expenses
INTEREST RATE
4,00%
(fixed rate, 100% subsidized for the entire duration of the loan) plus levy of L.128/75 (today set at 0.12% on the proportion of the loan amount funded by the Bank that is, 0.08%)
LOAN TERM
4, 5 or 6 years
LOAN AMOUNT
Up to €26.675
KEY ADVANTAGES
  • 100% subsidized loan rate
  • Grant on the cost of interventions
  • No loan expenses

Program brief description

”Exoikonomo-Aftonomo” is funded by the Program "Competitiveness, Entrepreneurship, Innovation" and the Regional Operational Programs of Eastern Macedonia Regions - Thrace, Central Macedonia, Epirus, Thessaly, Western Greece, Attica, West Greece, Southern Aegean, Sterea Ellada, Western Macedonia, Peloponnese, Ionian Islands, North Aegean and Crete, of the 2014-2020 ESPA. The beneficiary of the Program is Hellenic Development Bank.

The basic criteria for a property to be eligible for the Program are the following:

  • It is used as a main residence
  • It is legitimate (bears a building permit or other legitimate document*).
  • It is classified according to the Energy Efficiency Certificate (EEP), issued after 26/11/2017, in a category less than or equal to C.
  • It has not been characterized demolishable.

*A relevant Solemn Declaration is attached at the application stage on the legality of the residence and the attachment of a Building Permit and / or of other corresponding / additional legal document must have been submitted before the Admission Decision.

Eligibility criteria for the applicant:

  1. Retention of full, sparse or usufruct ownership of an eligible residence.
  2. Meeting the income criteria (for applications for individual apartments and houses) as defined by the program in the following link(https://exoikonomo2020.gov.gr)

In the case that the eligible house is rented / available for short-term lease or is vacant, as well as for the recent acquisition of real estate, only the full owner or the usufructuary have the right to participate in the Program.

Ιt is also possible to submit an application for apartment buildings:

  • Apartment Building Type A: including interventions in communal areas, as well as in individual apartments
  • Apartment Building Type B: including interventions only in communal areas

In apartment building applications, the percentage of the grant does not depend on the income of the owners.

The basic grant percentage, as defined by the program, is available at the official web portal (https://exoikonomo2020.gov.gr):

Further increments on the basic grant percentage may be applied, as follows:

  • special increment of 10% in all cases due to COVID - 19
  • special increment of 10% in properties located in lignite areas
  • an increment of 10% energy premium, in case of buildings belonging to energy category H and Z (detached houses, individual apartments, Type A apartment buildings), provided that an upgrade of at least B’energy category is achieved.

The eligible interventions are classified in 4 categories, depending on the purpose of implementation and they include the following subcategories of interventions:

 1.  Energy savings

  • Frame replacement
  • Thermal insulation installation/upgrade
  • Heating/ cooling system upgrade
  • Hot Water System using Renewable Energy Sources (RES)

 2.  Energy autonomy

  • Photovoltaic (PV) power plant, with energy offset
  • Electricity storage systems (electric accumulators) from PV
  • Electric vehicle recharging infrastructure

 3.  Smart home systems

  • Lighting / electrical charge handling
  • Heating / cooling
  • Remote control and monitoring

 4.  Other communal interventions (Apartment buildings)

  • Elevator upgrade and certification
  • Lighting upgrade of communal areas

The total eligible budget for the implementation of interventions is as follows:

  • € 50,000 for a detached house / individual apartment / apartment as part of an application for a type A apartment building
  • € 80,000for a type B apartment building application. In case that a beneficiary has more than one application ( owner-occupied and rented as main residence), the total funding cannot exceed € 100,000 in the sum of all applications.

In order to cover the cost of the required interventions, there is the option to combine grant, borrowing and / or own funds. It is noted that the private participation, in the case of the applications of type B apartment building, will be covered exclusively with own funds.

The minimum energy goal that must be achieved through the energy upgrade interventions, is as follows:

  • For applications for individual apartments and detached houses and apartment building applications type A: upgrade by three (3) energy categories, in relation to the existing classification in the A 'PEA.
  • For type B apartment buildings applications, there is no minimum energy goal.

Why should you participate in the "Exoikonomo-Aftonomo" Program

"Exoikonomo-Aftonomo" Program allows you to::
    • upgrade your main residence,
    • save energy and money
    • contribute to the protection of the environment

In addition you benefit from:

 1.  . Loan with preferential terms
    • 100% subsidized rate, throughout the loan duration
    • Option of full or partial early repayment of the loan, without penalty
    • No loan expenses
    • No collaterals

 2.  Up to 85% grant

Depending on your family and income situation and the achieved upgrade of the property, the subsidy on the cost of interventions amounts to up to 85%. In addition, if your property is located in a lignite area, the maximum grant rate can reach 95%.

 3.  Free Project Consultant services*

The submission of the application, the monitoring of its progress, the detailed recording of the required data and the posting of supporting documents on the Information System of the Programuntil the final disbursement can be assigned to a project consultant. The project consultant's fee is considered to be eligible expense, in accordance with the maximum limits mentioned in the Program Implementation Guide and is paid upon the total disbursement by the Bank, provided that the application is submitted and the minimum energy goal of the program is met.

 4.  Covering the cost of Energy Inspections*

Τhe program requires that two energy inspections are carried out and the respective Energy Performance Certificates (PEA) are issued. The inspector of the second energy inspection that will take place after the implementation of the interventions (B 'PEA), must be different from the inspector of the first energy inspection (A' PEA). The total cost of the cost of the two energy inspections is fully covered by the Program, in accordance with the maximum limits mentioned in the Program Implementation Guide, provided that the application is submitted and the minimum energy goal of the program is achieved.

 5.  Covering the costs for potential assessments / required approvals-licenses / elevator inspection certificate *

Expenses for any licences/approvals issued or assessments required by the current legislation on the implementation of interventions (such as fee for the approval of small-scale construction works, fee for the assessment of internal installation), as well as the fee for the inspection and issuance of an elevator certificate, are all covered by the Program and are paid upon the total disbursement of the loan.

 6.  Covering the managing cost of the loan
You are not charged with loan application expenses, as these are covered by the Program.

* * Must be stated upon the application submission.

Loan Features

Loan amount

Up to 26.675€, depending on the responding category of the program. The loan is co-financed by Hellenic Development Bank and Piraeus Bank with a 1:2 ratio.


Interest rate
The interest rate is fixed for the entire duration of the loan, set at 4.00%. In all categories, the interest rate is fully subsidized for the entire duration of the loan, except for the levy of Law 128 / 75. The levy today set at 0.12% on the proportion of the loan amount funded by the Bank that is, 0.08%).

Duration
4 or 5 or 6 years

Disbursement
There is the option to choose between a lump sum or gradual disbursement (advance payment), crediting directly a bank account of the suppliers/ contractors:

  • Lump sum - the amounts relating to the loan, the grant and the other benefits of the program are disbursed upon the completion of the checks of the invoices on credit and of the other supporting documents by the Beneficiary of the program (Hellenic Development Bank).
  • Gradually in 2 disbursements

    Advance payment: amounts to 70% of the loan
    - 2nd gradual disbursement: the remaining amount of the loan, as well as the amounts relating to the grant and thebenefits, paid after the completion of the checks of invoices on credit and of the other supporting documents by the Beneficiary of the program (Hellenic Development Bank).

Repayment

The loan is repaid in monthly interest-bearing installments.
In case of advance payment, all the interest is paid. Following the completion of the project and provided that the energy goal is achieved and you are entitled to the benefits of the program, then the interest is returned to your account and the interest rate is fully subsidized.
In case of a sum-lump disbursement, the interest rate is fully subsidized from the beginning and for the entire duration of the loan, except for the levy of Law 128 / 75,on the proportion of the loan amount funded by the Bank that is, 0.08%, which is paid by you.
Installments are paid automatically each month through your deposit account.


Early repayment option
Full or partial, free of charge  

Collateral
No collaterals are required

Expenses
No loan expenses
In case that your supplier/ contractor cooperates with a different financial institution, you will be charged with remittance costs, according to the Bank’s , Pricing Policy, upon paying the suppliers.

Financial Loan Pre-approval Documents «Exoikonomo-Aftonomo»

 1.  For citizens of the EU member-states:

Valid passport or ID card from your country of origin (in Latin characters). It is required for all of the loan participants

For non EU citizens:

    • Valid residence permit.
    • Valid passport from your country of origin or Special ID Card for Aliens of Greek Descent or Alien’s ID Card (if you are not of Greek descent).

 2.  Proof of income documentation:

For employees/pensioners:

    • Income tax return form of last year for Greek citizens and of the last two years for EU and non EU citizens
    • Income tax statement (E1 form) of the last fiscal year
    • For employees, last payroll slip or an official annual income certificate from the employer’s accounting office. The certificate must include all income details (recruitment date, gross and net earnings, social security contributions and tax)
    • For pensioners, latest quarterly pension statement or the latest pension payment slip
    • In case of income from properties, a tax statement (E2 form) of the last fiscal year is required.

For freelance professionals/ entrepreneurs / farmers:

    • Income tax return forms of the last two years
    • Income tax statement (E1 form) of the last fiscal year
    • Documents for the last 2 f years proving the turnover of the sole proprietorship, general partnership, limited company, etc. (E3 or N form)
    • Certificate of dividend yield, if you are shareholder in a companyIn case of income from properties, a tax statement (E2 form) of the last fiscal year is required.


If you are a Piraeus Bank customer, it is possible that the identification documents that you provided to the Bank in the past may be outdated. In this case, you will need to provide updated documents.

How to participate in the Program

The application is submitted only digitally through the Information System of the official web portal of the program (https://exoikonomo2020.gov.gr), at the dates set by the program guide and until the program’s maximum budget is covered.
In particular, the applications for detached houses and individual apartments will be submitted by region and their start date is set at 11/12/2020. The applications for apartment buildings (Type A & B) will be submitted from 03.02.2021 throughout the territory.
Application dates may change, if necessary, in the event of emergency measures. In this case, the new dates will be announced on the websites of the Program and the Ministry of Environment and Energy (www.ypen.gr)

For further information on the program, please visit:

For further information on how to get a loan through Piraeus Bank through the" Exoikonomo-Aftonomo" Program:

    • Visit a branch of the Bank
    Find a nearby store

    • Contact the Bank's telephone service at 210 32 88 000

Brief Program Procedure

 1.  Online application at the program’s official site https://exoikonomo2020.gov.gr

 2.  Registration of income and property data in the Program's Information System, eligibility check, financial scheme selection and Bank choice.

 3.  1st Energy Inspection, registration of property’s data & control by the Information System, completeness check of documents applied and final submission.

 4.  Completion of required loan application fields & posting of financial pre-approval documents in the Information System (if loan option has been selected)

 5.  Loan evaluation and financial pre-approval (if loan option has been selected)

 6.  Delegation Decision issuance in the Program by the Beneficiary (Hellenic Development Bank) and its acceptance in the Information System

 7.  Attendance at the bank & loan agreement signing

 8.  Choice between gradual payments or lump sum disbursement (if loan option has been selected) through the Information System

 9.  Down payment disbursement (if the gradual disbursement option has been selected through the Information System) and suppliers/contractors payment

10.  Implementation of interventions & conduct of 2nd Energy inspection

11.  Attachment of documentary expenses & other supporting documents in the Information System & file control by the Beneficiary (Hellenic Development Bank)

12.  Approval of the project by the Beneficiary (Hellenic Development Bank) and total loan disbursement (if its grant has been selected) / grant / benefits & repayment of suppliers