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Wednesday, February 1, 2023

Now your renovation is environmental!

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Now your renovation is environmental!

Bank of Cyprus is actively seeking a shift to a green environment, contributing substantial actions to reduce energy consumption and providing you with an environmentally friendly loan for the renovation of your home or cottage.

Who is the product for?

To permanent residents of Cyprus who want to renovate and upgrade the energy efficiency of their private home or holiday home. If you are not a permanent resident of Cyprus for the last one year, contact the Service Officers in our Branch Network.

How much can I borrow?

The maximum amount of funding is € 30,000.

Take advantage of up to € 300

Obtain an energy upgrade certificate and you will be credited with 1% of the loan amount (maximum amount € 300) in your current account.

No initial charges

No initial bank charges are charged

What is the repayment period?

Minimum repayment period:

5 years

Maximum repayment period:

20 years in cases where changes are made to the layout of the building 10 years in all other cases.

Until what age do I have to repay my loan?

The maximum age of the borrower at the end of the loan is 65 years.

What are the necessary conditions for funding?

Submission of a certificate of energy upgrade or a written certificate from a licensed specialized expert – member of ETEK for the energy upgrade of the house.


proof of the relevant grant you have received from the Government. Necessary collateral is the mortgage of the property for renovation.

Is there a grace period?

Up to 12 months in the capital.

Is there an option in the interest rate?

The interest rate is a floating interest rate for the entire duration of the loan.

Find out about interest rates here.

Can I change my mind about the loan?

There is a right of withdrawal within 5 working days from the date of conclusion of the agreement.

Source: www.philenews.com

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