Committed as it is to environmental sustainability, the Bank of Cyprus is contributing substantially to the reduction of energy consumption by providing consumers with an environmentally-friendly loan to renovate a primary residence or holiday house.

Who is the product for?

Permanent residents of Cyprus who want to renovate and upgrade the energy efficiency of their primary or holiday home. If you have not been a permanent resident of Cyprus for the past year, contact the Service Officers in our Branch Network.

How much can I borrow?

The maximum amount of funding is €30,000.

Benefit up to €300

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

No initial charges

Initial bank charges are not 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.

By what age must I repay my loan?

The maximum age for the borrower to repay is 65.

What are the necessary conditions for funding?

  • Presentation of a certificate of energy-efficiency upgrade, or a written certificate from a licensed specialised expert – member of the Cyprus Scientific and Technical Chamber for the energy-efficiency upgrade of the house.

or

  • proof of the relevant grant you have received from the government.
  • the property that will be renovated must be used as collateral

Is there a grace period?

Up to 12 months on principal.

Is there an option in the interest rate?

The interest rate is a floating 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 five (5) working days from the date of conclusion of the agreement.