The Photovoltaic Home loan is a specific home repair loan for the purchase and installation of PV systems on the roof and/or rooftop under the Special Development Program for Photovoltaic Systems of up to 10 kWp (Government Gazette Issues 1079/B/04-06-2009 and 2317/B/10-08-2012).
Individuals, with permanent residence and personal income subject to taxation in Greece.
The loan may finance up to 100% of the expenses related to the purpose of the loan, from €1,500 up to €40,000.
In the loan amount it is also possible to include the expenses for:
- the purchase and installation of a solar heating system, whose existence is one of the prerequisites for the Special Development Program for Photovoltaic Systems
- the connection to the Hellenic Public Power Corporation network.
From 36 to 120 months
If collateral is provided, the terms and conditions are even more favorable:
- loan amount from €15,000 up to €50,000
- loan term from 36 to 180 months
- lower interest rate.
Acceptable collateral is:
- registration of mortgage prenotation over the property that the PV System is installed
- deposits in euro.
The operation of the PV Installation must be covered by insurance for the total duration of the loan.
Option for a down payment on the loan
If you choose the Photovoltaic Home loan with collateral, there is the option of partial disbursement in two installments:
- a first installment of up to 30% of the total loan amount can be disbursed before the completion of the installation
- a second installment of the remaining amount is disbursed with the completion of the installation.
The Photovoltaic Home loan is repaid in monthly amortization installments, through automatic debit of a deposit account in your name.
Payment Protection Program
The Payment Protection Program is an insurance program that covers your monthly loan repayment installments in the event that you are temporarily unable to work in either of the following cases:
- If you work in the private sector as a salaried employee under an open-end employment contract, the program covers you in the event of involuntary unemployment or temporary inability to work due to illness or accident.
- If you are a public sector employee, temporarily employed or freelance professional, the program covers you in the event of hospitalization or temporary inability to work due to illness or accident.
Furthermore, it covers you for payment of the outstanding principal on your loan (up to a certain limit, depending on its term) in the event of death from any cause or permanent total disability due to accident.
This insurance cover is simple to obtain and available at a remarkably low cost, as long as you choose the Payment Protection Program when you apply for the loan.
The Payment Protection Program option is available in the case of one-off disbursement.
Interest rate - Charges
To find out about rates and charges for this product, click here.
Annual Percentage Rate
For information on the Annual Percentage Rate (APR), please click here.