Loan for the exploitation of renewable energy sources
Save both energy and money!
Are you fed up of paying usurious bills? Did you know that you can turn your own home into an endless source of energy to cover its requirements?
Hellenic Bank now offers you the ENERGY scheme, a specialised loan for the purchase and installation of energy production systems by means of Renewable Energy Sources (R.E.S.).
The ENERGY loan is an immediate loan solution with favourable terms and conditions, enabling you to buy and install the system you desire so as to start producing your own energy and enjoy the privileges that… nature offers you for free!
In the course of repayment, to a great extent this loan will be repaid from the incentives that are offered to you, such as:
• Significant government subsidy on the price and cost of installation of the system.
• Significant savings on your electricity bill or from the sale of electricity to the Electricity Authority of Cyprus through a contract (in the case of the photovoltaic systems).
Now you can produce your own electric energy by taking advantage of the plentyness that nature offers!!!!
Choose the renewable energy producing system that best suits your needs and come to Hellenic Bank to secure the appropriate loan:
Loan ENERGY for the purchase and installation of the PHOTOVOLTAIC SYSTEM
• Loan amount up to €60.000
• Long term repayment period up to 15 years
• Favourable interest rate
What is the photovoltaic system?
Photovoltaic systems have the capability of collecting sun power through photovoltaic cells and converting it to electrical energy. The electrical energy produced through your system is then sold to the EAC via its network and you receive your payment depending on the kilowatts that you produce.
Loan ENERGY for the purchase and installation of SOLAR HEATING systems
• Loan amount up to €17.000
• Repayment period up to 15 years
• Favourable interest rate
What is the Solar Heating System?
The Solar Heating System collects solar energy through panels that convert it later into electricity to power up your existing diesel heating system. Basically, the solar panels collect solar energy and through an inverter that transforms it to electrical energy, powers up a common diesel heating system that heats your home in the traditional way. This way of producing energy is environmentally friendly and diminishes the amount of non-renewable energy that you have to use significantly.
Notes:
1. For interest rates please obtain the Bank Tariffs Guide from any Hellenic Bank branch, Service Line 80009999 or our web site www.hellenicbank.com
2. For the granting of the loan, a legal documentation fee of € 50 (£29.26) is required as well as an arrangement fee of 0,50% on the amount granted
3. The approval of the loan is subject to the provision of satisfactory securities. Hellenic Bank Public Company Ltd has the right to reject a loan application according to its credit policy at that time.
4. Required securities:
• Written undertaking signed by the Applicant to deposit to the loan account the subsidy to be received for the Ministry of Commerce and Industry
• Written undertaking signed by the Applicant to deposit to the loan account all amounts received from E.A.C. for selling electrical energy to it (in the case of photovoltaic systems)
• Insurance cover of the energy production systems by means of R.E.S. (fire, earthquake and natural disasters insurance)
• Contracting and assignment in favour of the Bank of a new life and permanent total disability insurance cover (term policy) for the Applicant with Hellenic Alico Life. Payment of the insurance premium is calculated on the basis of the amount and repayment period of the loan.
