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National Bank of Greece, by means of a range of ecological banking solutions, enables you to make a real contribution to the protection of the environment and receive, at the same time, a boost to your annual income.

 

The “Development Program for Photovoltaic Systems” (Gov. Gazette 1079/B/04-06-2009 and 2317/B/10-08-2012) offers you the opportunity to install a PV system of up to 10 kWp on the roof or rooftop of your home, and become a provider for the Hellenic Public Power Corporation, which buys from you the electricity generated.

 

Accordingly, besides actively contributing to environmental protection, you can gain significant financial benefit by saving energy and earning exra fixed income annually.

 

As for financing the investment? - Find out today about the NBG Photovoltaic Home loan for the purchase and installation of a PV system, for which we offer:

  • financing option of up to 100% of the total purchase and installation cost of the PV System, without assignment of the offsetting agreement with the Hellenic Public Power Corp
  • long repayment term
  • particularly favourable floating interest rate
  • zero charges.

 

So, why wait? Reap the financial benefits and act ecologically!

 

For further information, please click on Details.

Purpose

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).

 

Beneficiaries

Individuals, with permanent residence and personal income subject to taxation in Greece.

 

Loan amount

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.

 

Loan term

From 36 to 120 months

 

Collateral

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.

 

Insurance coverage

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.

 

Repayment

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​.

Visit your nearest Branch and apply for the loan today.

To make use of the down payment option (only available for the Photovoltaic Home with collateral loan) you need to declare it in your application.

 

Basic documentation needed for your loan application:

  • your personal ID card or valid passport
  • your latest tax clearance
  • document stating estimated cost from the company carrying out the installation of the PV System and any additional cost for the purchase and installation of a solar heating system
  • estimated charges for connection to the Hellenic Public Power Corp grid (if you wish to include these charges in the loan amount).

 

If necessary, you may be asked to submit further documentation.

 

After submitting your application, we will contact you to inform you of the outcome. Following loan pre-approval, you will be asked to sign the loan agreement and adduce additionally:

1. Connection agreement with the Hellenic Public Power Corp

2. Offsetting agreement with the Hellenic Public Power Corp

3. Private contract between the customer and the PV system provider or the order form, duly signed

4. Receipt evidencing advance payment to the PV system provider

5. Connection charges document from the Hellenic Public Power Corp

6. The PV system installer’s guarantees (at least five year equipment guarantee and system energy performance)

7. Connection Activation Certification from the Hellenic Public Power Corp

8. Purchase/services supporting documents (final payment invoices or invoices on credit and final payment invoices)

9. Proof of PV System Insurance.

In case of partial disbursement, the documents 1 to 5 are adduced for the disbursement of the first installment (down payment of up to 30% of the total loan amount).

 

For detailed information, please visit one of our Branches or call us at 181818.

Installment payment

Your loan installments are automatically debited to the deposit account that you hold with NBG and have stated that you wish to be debited for their payments.

 

Loan statements

To enable you to keep track of your loan and respective dues, we send you a monthly loan statement containing information on your loan and the amount of the next installment.

 

Late/non receipt of your loan statement

The loan statement will be sent each month to the address you have given us. If for any reason beyond the Bank’s control the statement is not delivered to you, the installment will nevertheless still be due for collection, as required under the loan agreement.

For further information, visit your local Branch.

 

Late payment of loan installment

You must endeavor to settle your dues as soon as possible.

Failure to pay an installment incurs default interest for the period it remains in arrears, while it is also taken to indicate transactional delinquency. In addition, your loan agreement may stipulate further penalties.

 

Change of deposit account used to service the loan

To change the deposit account which is linked to your loan visit one of our Branches and indicate the account you wish the installments of your loan to be debited to.

 

Interest rate changes

The interest rate on your loan is floating and is adjusted in line with any change in the 3-month Euribor (reference interest rate), rounded in three (3) decimal digits, as it stands two business days before the disbursement date. The contractual interest rate is subject to adjustments on the last day of each quarter starting from the disbursement date.

 

Payment Protection Program

The Payment Protection Program option is available at the time you apply for the loan and only in the case of one-off disbursement.

 

Early repayment

Early repayment (in all or in part) of any amount you wish is available free of charge.

 

Change of personal information

Please inform us immediately of any change in your personal particulars (home address, contact info etc.) by simply visiting an NBG Branch.

To find out which documents are required to verify your particulars, please read our brochure “Have you introduced yourself? If not… do it now”.