Home Energy Savings Program

The Cooperative Bank of Karditsa, continues the efforts of Corporate Social Responsibility and participates actively in the “Home Energy Savings Program II” supporting the protection of the environment and the energy upgrade of residences.

The new “Home Energy Savings Program II” is designed in order to save energy in the residential building sector and is aimed at individuals, whose main residence belongs to a low energy category.

The program provides financial incentives to beneficiaries in the form of grants and interest rate subsidy loans, in order to carry out significant interventions that improve the energy efficiency of their properties.

You can participate in the program

If you retain the right of ownership (full or partial) or usufruct in an eligible residence
If you meet the income criteria as described below

As income calculated the “taxable income contribution” of section C2 “Statement of Special Solidarity Contribution” of the income tax return.

Eligible interventions belong to the categories

Frame replacement
Installation / upgrade of thermal insulation
Heating / cooling system upgrade
DHW system using Renewable Energy Sources (RES)

Eligible intervention budget

Every application can not exceed 250€ / m²., with a maximum cost of 25,000€, including VAT.

Participating in the “Home Energy Savings Program ΙΙ”

Upgrade your main residence while increasing its resale value
Save energy and money
Contribute to the protection of the environment

Additional advantages

Loan on preferential terms
Up to 70% grant
100% interest rate subsidy for the entire duration of the loan
Possibility of full or partial discount without charge
No loan costs
No collateral securities

Depending on your family and income situation, the subsidy on the cost of interventions is up to 70%.

Free Project Consultant services

The submission of the application, its progress, the detailed recording of the required data and the posting of supporting documents in the Information System of the Program until the final disbursement can be assigned to a Project Consultant. The project consultant’s fee is an eligible expense for the program, according to the ceilings mentioned in the Program Implementation Guide and is paid during the total disbursement by the Bank, provided that the application is submitted and the minimum energy goal of the program is met.

Covering the cost of Energy Inspections

Within the framework of the program, two energy inspections are carried out and the respective Energy Performance Certificates (EPCs) are issued. The total cost of the two energy inspections is fully covered by the Program, in accordance with the ceilings stated in the Program Implementation Guide, provided that the application is submitted and the minimum energy objective of the program is met.

Expenses Coverage for any studies / required approvals

Expenses for studies and approvals (e.g. fee for approval of small-scale works, fee for study of internal natural gas installation, etc.) that may be required for the implementation of the required interventions are covered by the Program and are paid during the total disbursement of the loan.

Coverage of the management costs of loan file

You do not have to pay for the loan application as it is covered by the program.

Loan amount

Up to 25,000€, depending on your integration category in the program. The loan is co-financed by the Bank and the Hellenic Development Bank S.A. in a ratio of 1:2 (Hellenic Development Bank S.A./Bank).

Interest rate

The interest rate is fixed for the entire duration of the loan and is set at 4%.
For all categories of incentives, the interest rate is fully subsidized for the entire duration of the loan except for the contribution of Law 128/75. The contribution today amounts to 0.12% of the loan amount corresponding to the Bank’s funds, ie. 0.08%.

Duration

4 or 5 or 6 years of Disbursement
Possibility to choose one-time or gradual disbursement (advance payment), with direct credit to a bank account of the suppliers / contractors:

Lump sum – the amounts of the loan, the grant and the other benefits of the program are disbursed upon the completion of checking the invoices on credit and the other supporting documents by the Beneficiary of the program (Hellenic Development Bank S.A.).
Gradually – in 2 disbursements.

Advance payment: corresponds to 70% of the loan amount.
2nd gradual disbursement: is defined as the remaining amount of the loan, the grant and the benefits attributed to the completion of checking the invoices on credit and other supporting documents by the Beneficiary of the program (Hellenic Development Bank S.A.).

Repayment

The loan is repaid in monthly installments plus interest.

In case of advance payment you normally pay the full interest. Then, upon the completion of the project and if the energy goal has been met , so you are entitled to the benefits of the program, the interest is returned to your account and the interest rate is fully subsidized. In case of one-time disbursement, the interest rate is fully subsidized from the beginning and for the entire duration of the loan, except for the contribution of Law 128/75 that corresponds to the Bank’s funds, ie. 0.08%, which is burden on customer.

Installment payment is made automatically from your deposit account.

Possibility of early repayment – full or partial, without any charge.
Securities – no collateral securities.
Costs – no loan costs.

Find out more about “Home Energy Savings Program II” by calling us on +3024410 40099 or visit one of our branches.
All information about the program here.