Energy-saving loan
Borrow for insulation, solar panels or heating improvements to a property you have owned for more than six months, using a loan linked to a new building-savings contract.
Esta oportunidad está disponible actualmente en inglés.
You can borrow up to €75,000 for energy renovation, including roof-mounted solar panels, heat pumps, wall or basement insulation, replacement windows and exterior doors, and ventilation with heat recovery. At least 75% of the credit must go towards energy measures.
The loan is paid out first. You pay interest on it while saving into a new building-savings contract for the same amount; those payments build savings rather than reducing the initial loan balance. The savings contract is pledged to PSD Bank Nord as security. When you reach the minimum savings balance for your chosen tariff, you can apply to the building society for the associated loan. Subject to creditworthiness, your savings and that new loan then repay the initial credit. You subsequently repay the building-society loan in fixed monthly instalments covering interest and principal. Its terms are secured when you take out the energy-saving loan.
The standard savings-contract route has a one-off setup fee of 1.6% of the agreed savings sum and an annual charge of €15. The bank advertises terms of 12–240 months without registering the property as security through a land charge. It also offers the right to make special repayments of up to 100% of the loan at any time. Interest pricing is individual.
Eligibility
- You must have owned the property for longer than six months.
- At least 75% of the loan must fund energy measures. The loan cannot be used to buy or retain a right over land.
- You must open a new building-savings contract for the loan amount and assign it to PSD Bank Nord as security. Only one loan per borrower is available.
- The later building-society loan requires creditworthiness; the minimum savings balance depends on the tariff you select.
- The bank generally requires loan instalments by direct debit, with a separate mandate for each loan.
How to apply
- Estado
- Abierto continuamente
- Condiciones de la convocatoria
- Apply through a consultation with PSD Bank Nord.[^c7]
Arrange an appointment with PSD Bank Nord through its appointment page, or call 040 530530, Monday–Friday, 08:00–19:00. The bank offers advice on the energy-saving loan and the linked savings contract.
The general financing process includes an individual financing proposal and bank assessment of your application. After approval, the bank sends a contract for you to sign and return.