Green renovation loan
A fixed-rate loan for private borrowers to insulate a home, install a heat pump or make other improvements to its energy-performance rating.
Αυτή η ευκαιρία είναι προς το παρόν διαθέσιμη στα Αγγλικά.
Borrow from €2,500 for green renovation work and repay vdk bank in fixed monthly instalments. The rate stays fixed throughout the loan. There are no notary or application processing fees.
The term depends on how much you borrow: up to 30 months for €2,500–€3,700; 36 months for €3,701–€5,600; 42 months for €5,601–€7,500; 48 months for €7,501–€10,000; 60 months for €10,001–€15,000; and up to 84 months above €15,000. This renovation product has a seven-year ceiling.
The published base annual borrowing interest is 5.30% for terms up to 36 months and amounts from €2,500. For amounts over €5,601, it is 5.40% for 37–60 months and 5.55% for 61–84 months, subject to the amount-based term limits. vdk may discount the rate after assessing your application. These borrowing rates are different from the annual percentage rate, which includes credit costs; the bank’s example also includes the management fee for a Flux current account.
The general terms require you to take the money in one payment within two months after the agreement is concluded, otherwise the agreement is treated as never having existed. vdk pays by cheque or transfer to your account at a bank of your choice, or to a person you designate. Payment follows signature by all parties, establishment of agreed security and fulfilment of the bank’s other conditions.
You can repay all or part of the loan early by notifying vdk by registered letter at least 10 days beforehand. The early repayment charge is 1% of the principal repaid early if more than one year remains, or 0.5% if one year or less remains. It cannot exceed the interest you would have paid for the remaining period.
Eligibility
- You must borrow as a private individual, mainly for purposes outside your trade or profession. vdk assesses your ability to repay and must accept your application.
- Green work includes heat pumps, insulation and other measures improving the home’s EPC score, its energy-performance rating. Your quote or invoice must be no more than three months old. You must provide documents confirming the stated loan purpose by the time you sign.
- If your contract names a particular goods purchase or service, delivery or completion must occur within two months after you sign. Before releasing the funds, vdk requires your signed, dated confirmation that delivery or completion has happened.
- If the work needs planning permission, notify vdk in writing no later than signing the loan agreement and supply a copy of the permit before payment.
- When two or more people borrow together, each is responsible for the entire debt. You must maintain any agreed security throughout the loan. Depending on the contract, vdk can require you to transfer to it the part of your wages that the law allows creditors to collect and sums that others now or later owe you, or authorize it to collect the cash-in value of life-insurance policies. The bank can collect those amounts as security. It can also offset debts that are due against your other accounts at vdk.
- If the credit buys a good, keep it in good condition and available for bank inspection. Selling, renting or pledging it requires vdk’s prior written consent. If it is destroyed, even by accident or circumstances beyond your control, the general terms require early payoff at the next monthly due date.
These are the bank’s general consumer-credit conditions; particular conditions in your agreement may provide otherwise. Missed payments can lead to additional costs, late interest, penalties and termination.
How to apply
- Κατάσταση
- Ανοιχτό συνεχώς
- Όροι του κύκλου αιτήσεων
- Subject to vdk bank’s credit approval.[^c25]
Arrange a renovation-loan appointment with a vdk bank adviser through the bank’s appointment page. Complete and sign the credit application, including any guarantors where applicable. The bank provides personalized standard consumer-credit information before the contract, so you can review the repayment terms and total cost.
The bank’s documents and communications for this credit are in Dutch.