Green Variable Rate home improvement loan

Starting from €10,000 for the installation of photovoltaic systems or €20,000 for energy efficiency upgrade works, and up to:

• 100% of the budgeted cost of works for energy efficiency upgrade projects
• 100% of the budgeted cost of the financial offer / pro forma invoice issued by the supplier–installer of the photovoltaic systems, plus additional amount of €2,000 (provided that the loan to value ratio does not exceed 80%, as determined by the Bank’s engineer’s valuation).

• Loan’s variable rate spread is calculated during the loan application assessment according to the bank's current Credit Policy framework, taking into account factors such as credit history, type of collaterals, loan amount and loan term.
• On top of Interest rates Levy of Law 128/1975 is charged, currently set at 0.12% for residential properties and at 0.60% for business premises.
• For loans with variable interest rate, the installment amount may vary, according to the fluctuation of the interest rate of the loan.
• In the case of not insuring for the risks of Life/Permanent Total Disability, there may be an increase in the aforementioned spread.

For a loan amount of €100,000, secured by a pre-notation of mortgage on the property,term 35 years thus 420 monthly installments, variable interest rate of Euribor 1M (1,99% on 04/06/2026), plus spread of 2.30% (plus l. 128/75, 0.12% levy), application fee: €0, legal check cost: €50, technical check cost: €150, the following apply:

• Monthly installment: € 467.70
• Total credit amount: €100,000
• Total credit cost: € 96,709.79
• Total amount to be paid: € 196,709.79
• APR: 4.52%

• The APR, monthly installment, and total amount payable are mentioned exclusively for example purposes and are derived only under the precondition that the aforementioned data will exist.
• The APR has been calculated on the assumption that the variable interest rate remains at the same level for the entire term of the contract.
• We emphasize that the insurance of the property under pre-notation of mortgage against the risks of Fire/Earthquake is mandatory for an insured capital equal to the property's reconstruction value. There is the option to join a group insurance policy that the bank contracts with an insurance company of its choice or to submit an individual insurance policy from an insurance company of your choice, according to the bank's policy and procedures.
• The above example does not include insurance costs for property and life protection of the borrower.

Zero application review fee.

For the full list of fees, please refer to the bank's pricing list.

In monthly installments that pay off:

• Interest, capital and insurance premiums.
• Insurance premiums during grace period.

Information about your loan installment

• The installments are paid automatically from your linked bank account.
• Each installment is paid on the same date of each calendar month, and its amount is calculated based on the prevailing interest rate and the number of installments.
• The amount of the installment may change, depending on the fluctuation of the lending rate.
• The interest is calculated based on a calendar year of three hundred sixty-five (365) days.
• If you are enrolled for Fire/Earthquake and/or Life & Permanent Total Disability coverage,under the group insurance policy contracted by the Bank, the premiums are paid monthly together with the loan installment.
• The number of repayments is determined based on the loan term selected by the customer.
• Non-compliance with obligations from the loan contract may have legal or financial consequences for the borrower.

Within 24 hours (1 business day) from the day following the signing of the loan contract. The submission of a special power of attorney is required (in accordance with a template to be provided by the Bank) prior to the signing of the loan contract.

• In instalments, depending on the quote/pro forma invoice from the contractor and the certifications by the bank's engineer.
• As a lump sum or in installments, in accordance with the financial offer/pro forma invoice provided by the supplier-installer of the photovoltaic system.

• Mandatory Fire and Earthquake Insurance for insured capital equal to the value of the property reconstructing
• Optional Life and permanent total disability insurance for one of the borrowers, for an insured capital equal to the approved loan amount
• There is an option to be enrolled in a group insurance policy contracted by the Bank with an insurance company of its choice, or submit an individual insurance policy from an insurance company of your choice, in accordance with the Bank’s policies and procedures.

By choosing the Green Variable Rate home improvement loan from Piraeus Bank you enjoy additional benefits:

• Reward of up to 2,000 yellows per instalment (€1 of each instalment amount = 1 yellow), for the consistent repayment of your loan instalments. Learn more here.
• Option for additional financing through consumer loan to cover initial setup costs for your new residence.

You can view here the General Information Document with all the legally required information and explanations.

• Valid national ID card or passport

For employees and pensioners:

• Tax clearance note of the last fiscal year
• Income tax return (form E1) of the last fiscal year
• For employees: latest pay slip or official certificate of earnings from the company's accounting department (not handwritten), which must include detailed professional information, date of hiring,  gross and net earnings, insurance contributions, tax, etc.
• For pensioners: quarterly/monthly pension statement or the latest pension payment slip or pension award decision in cases where a pension application has been submitted

For freelancers / business owners / farmers & livestock breeders:

• Tax clearance notes for the last two (2) fiscal years
  
•  Income tax return (form E1) for the most recent fiscal year
•  Documents for the last two (2) fiscal years proving the turnover of a sole proprietorship, general partnership (O.E.) limited liability company (E.P.E.), etc. (form E3 or form N)
•  Dividend distribution certificate, if there is participation in a company

• If there is real estate property: Form E9 and Form E2 for the most recent fiscal year, if there is income from property.
• For repayment of a mortgage loan from another bank: bank statement or the two (2) most recent mortgage loan statements.

• During the evaluation of the application, additional documents/information may be requested.
• Identification and income documentation is required from every party involved in the loan (borrower/co-borrower/guarantor).

For citizens of EU Member States & residents abroad:

• Valid passport or national ID card from your country (with Latin characters)

For all other categories of economic migrants:

• Valid residence permit or valid passport from your country or special Identity Card for individuals of Greek descent (in case of Greek nationality) or foreigner’s Identity Card (in case of no Greek nationality)

For employees and pensioners:

• Tax clearance statements for the last three (3) fiscal years
• Income tax return (form E1) for the latest fiscal year
• Electricity and landline or mobile phone bill, if the residence address stated in the loan application differs from that on the tax clearance statement
• For employees: latest pay slip or official salary certificate from the company’s accounting department (not handwritten), which must include detailed employment information, date of hire, gross and net earnings, insurance contributions, tax, etc.
• For pensioners: quarterly/monthly pension statement or latest pension payment slip or pension award decision (if a pension application has been submitted)

For freelancers / business owners / farmers & livestock breeders:

• Tax clearance statements for the last three (3) fiscal years
• Income tax return (form E1) for the latest fiscal year
• Documents for the last three (3) fiscal years proving business turnover for sole proprietorships, general partnerships (O.E.), limited liability companies (E.P.E.), etc. (form E3 or form N)
• Dividend distribution certificate, if there is company participation

For employees/pensioners:

• Tax clearance statements for the last two (2) fiscal years from the country of residence
• Latest pay slip/pension slip from the country of residence
  

For freelancers / business owners / farmers & livestock breeders:

• Tax clearance statements for the last two (2) fiscal years from the country of residence
• Proof of profits and business turnover for the last two (2) fiscal years from the country of residence
  
• Transactional behavior check documents (e.g., from Experian). Specifically, U.S. residents must provide credit reports from Experian (www.experian.com) & TransUnion (www.transunion.com)

• If there is real estate property: form E9 and form E2 for the latest fiscal year, if there is rental income
• For repayment of a mortgage loan from another bank: bank statement or the last two (2) mortgage loan statements

• During the evaluation of the application, additional documents/information may be requested
• Identification and income documents must be submitted for each party involved in the loan (borrower/co-borrower/guarantor)