EIF-guaranteed green loan
Individuals can borrow €300–€50,000 without real-asset collateral to improve their home’s energy efficiency or install renewable energy systems.
This entry covers the home-energy route of the Green Loan guaranteed by the European Investment Fund (EIF). It can pay for insulation, green roofs and shading, replacement windows and doors, heating and cooling equipment, boilers that do not burn fossil fuels, LED lighting, renewable-energy storage and distribution, and smart systems. Solar panels, geothermal systems and home wind turbines are also covered, along with engineer or energy-auditor fees and energy-performance assessment costs.
You borrow money from National Bank of Greece and repay principal and interest in monthly instalments. The first payment is one month after the loan is issued; payments are debited from your NBG account. Loans up to €15,000 run for 12–72 months; larger loans run for 12–96 months.
Interest varies with three-month Euribor, plus a 2% margin and the 0.60% levy under Law 128/75, so your payment can change. The Euribor component cannot fall below 0%. Permanent residents of islands with fewer than 3,100 inhabitants are exempt from the levy. The EIF guarantee provides a two-percentage-point discount compared with the bank’s non-guaranteed Green Loan, conditional on submitting proof of the home-energy use within three months of disbursement. The operating charge is €95; the €22 review fee paid with the application is deducted from that charge if approved. Full or partial early repayment has no additional charge; overdue instalments attract penalty interest.
Eligibility
- The bank must approve your application. Provide identity or residence documents as applicable, income and professional-status evidence, and property records or a no-property declaration.
- Home upgrades must improve the residence by at least one energy class to a final class of B or better, or achieve at least 30% energy savings compared with its initial performance. Renewable-energy installations are exempt from this upgrade test and from providing an Energy Performance Certificate (EPC).
- For other home upgrades, provide an initial EPC showing the current performance and the engineer’s proposed improvements. Within three months after the money is paid out, submit the final EPC proving the achieved target and paid invoices or purchase contracts covering the financed amount. Renewable installations still require paid purchase evidence within that period.
- Declare whether a Greek state subsidy is included in the loan amount. If included, use the subsidy for an equal early repayment as soon as you receive it. Grants or subsidies linked to European programmes may neither be included in the loan amount nor used to repay this loan.
- For loans above €6,000, provide social-insurance clearance or a debt certificate where clearance is required; otherwise provide the registered exemption declaration through e-EFKA.
How to apply
- Status
- Open continuously
- Round restrictions
- Apply at an NBG branch; lending is subject to bank approval.[^c14]
Submit your application and documents at an NBG branch. Bring the supplier’s official offer describing the work, cost and products; include the required EPC, technical-adviser invoices and subsidy declaration for your project. Use the linked borrower-document checklist for the applicable identity, financial and property records.
If approved, return to the branch to sign the contract. NBG then pays the loan into your account. Submit the required paid records and, unless exempt for renewable energy, final EPC within three months of disbursement to retain the interest discount.