Loan purpose
-
purchase of energy upgraded homes with energy efficiency rating of at least B or B+
-
construction/completion of energy upgraded homes with energy efficiency rating of
at least B+ -
repair of energy upgraded homes with energy efficiency rating of at least B upon
the completion of the works
Discount on the interest rate
A discount on the loan rate is offered through
a reduction of the interest rate margin that varies depending on the energy class of the residence upon purchase or upon completion of construction or repair works. Reduction in the interest rate margin ranges from 0.20% up to 0.80%.
If, for example the interest rate margin is fixed at 3% and a 0.20% discount applies, the margin will stand at 2.80%.
The
discount applied to the interest rate depends on the purpose of the loan, as follows:
-
purchase of residence: as of the first loan instalment
-
construction or completion of residential premises: as of the completion of the works
and provided that the borrower is current with his payments -
repair of residence: upon completion of the repair works and provided that (a) the
borrower is current with his payments and (b) the energy class of the property is upgraded
to at least the next higher energy efficiency class.
Loan disbursement
The loan is disbursed in a lump sum or in instalments, depending on the progress of the works (construction, completion or repair) for which it was granted.
Loan repayment
The loan is repaid in monthly amortization instalments on the disbursed amount. Instalment payments commence one month after the loan disbursement.
Instalments are automatically paid through a loan-linked
Deposit Account designated by the borrower and held with National Bank of Greece.
Loan term
-
purchase or construction/completion of residence: up to 30 years
-
repair of residence: up to 15 years
on condition that the youngest party involved (borrower or guarantor), declaring personal income, will not be older than 75 years at the term of the loan.
Repayment flexibility
You can adjust the loan to your needs, by choosing:
- an
initial interest-only payment period for the first 1 or 2 years
-
option to skip one installment per year, as of the 2nd year of the loan term.
Full or partial early repayment
You can fully or partially repay your loan without any charge.
Collateral
The loan is granted subject to registering a mortgage prenotation on a property of adequate collateral value, as per the Bank’s credit policy each time applicable.
The relevant cost, set out in
Rates and Charges for Loans, shall be borne by the borrower.
Insuring the property
For the best possible protection of your property and in case the loan is granted subject to registering a mortgage prenotation on a property, you are required to insure your property against basic risks (fire, earthquake, breakage-fracture of pipes, theft etc.).
Ethniki Insurance undertakes to protect your property at a particularly low premium, through quick and easy procedures. Specifically, it offers:
- a minimum property coverage plan
- a minimum and additional property coverage plan
- a content coverage plan
Borrower’s / Guarantor’s life insurance
To round off the protection of your property,
Ethniki Insurance will pay on your behalf any outstanding loan amount, in the event of the borrower’s (and/or guarantor’s) death as a result of unforeseen events (illness or accident), throughout the period until final repayment of your loan. The said insurance coverage, if chosen, is offered at a particularly low premium.
The above insurance coverage, if chosen, is provided with the mediation of National Bank of Greece SA, 86 Eolou,102 32 Athens, Company Reg. No.: 311481, Athens. The Bank is registered as an insurance agent with the Special Registry of the Athens Chamber of Tradesmen under No. 1028.
Rates and Charges
For more information regarding the rates and/or charges applying to your loan, click
here.