Now your renovation is environmentally friendly

Environmentally friendly loan for renovation

  • Financing amount up to €30,000

    Now, you can renovate and upgrade the energy efficiency of your own primary residence or holiday home with a loan of up to €30,000

  • Benefit with up to €300

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

  • No initial charges

    No initial bank charges

More Information

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

    • Bank of Cyprus Public Company Ltd (the “Bank”) offers housing loans with variable interest rate based on the European Central Bank Base Rate (“ECB Base Rate”) and the Bank’s Housing Loans Base Rate (“BHBR”).
    • It is noted that the margin based on the ECB Base Rate is currently and indicatively from 1.50% to 1.80% and the total interest rate based on the ECB Base Rate is currently and indicatively from 3.50% to 3.80%.
    • It is noted that the margin based on the BHBR is currently and indicatively from 2.95% to 3.25% and the total interest rate based on the BHBR is currently and indicatively from 3.51% to 3.81%.
    • The interest rates offered vary based on criteria evaluated and applied by the Bank in accordance with its credit policy as applicable from time to time, taking into account factors such as customers’ credit history, the collateral, the loan amount and loan duration, as well as the applicant’s contribution. For more information, please contact any of the Bank’s branches.

    For indicative examples click here.

  • 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
  • A borrower’s maximum age at loan maturity is 65 years

  • 1. Energy upgrade certificate or written confirmation from a licensed qualified expert - a member of ETEK (Cyprus Scientific and Technical Chamber) for the energy upgrade of the property.

    or

    Proof of the relevant Government grant received.

    2. Mortgage of the property to be renovated is a mandatory collateral

     

  • Up to 12 months on the capital.

  • You have the right to withdraw from the agreement within 5 business days from the date of its conclusion

Warning:

The Bank reserves the right to reject any application at its sole discretion and withdraw any plan at any time. If you do not make regular installment payments according to your loan repayment schedule, you may lose your house. There are charges for early loan repayment. In case of variable interest rates, the installment amount and total cost of the facility may increase or decrease depending on variations in the base rate.

800.00.800

+35722128000 from abroad
Monday to Friday, 07:45 - 18:00 Saturday and Sunday 9:00 - 17:00

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