Green home renovation loan

You can finance house insulation, solar electricity panels, solar water heating, heat pumps, biomass boilers, windows and entrance doors, ventilation with heat recovery, shading, green roofs, rainwater tanks and asbestos removal. Gas heating is eligible when it replaces wood or solid-fuel heating; an existing gas boiler can be replaced with a newer one. Project documentation and energy certificates qualify when connected to an eligible technology or product.

Borrow €500–€50,000, normally over 13–96 months. The published green interest rate starts at 5.90% a year; VÚB assesses your ability to repay and agrees your rate in the contract. The October product sheet lists an origination fee of 4% of the loan, with a long-term 50% fee discount. The loan is ordinarily unsecured, although any required security is set in your contract.

VÚB pays the loan in one instalment, normally on the contract date or agreed drawing date. If drawing cannot happen then, the terms allow up to five working days; the agreement ends if the money is still not drawn in that period. VÚB may refuse drawing under its stated financial-risk or enforcement/insolvency conditions. You repay the money and interest through monthly instalments to the VÚB loan account. You can repay from a VÚB account, another bank account or the other payment method agreed in the contract. Repayment insurance is optional and adds a monthly premium if selected.

The ordinary green loan does not require a subsidy. The separate subsidy-linked version can extend repayment to 120 months for renovating a home in Slovakia: you must already have a valid financing agreement with the Slovak Environment Agency. If VÚB requests it, you must also prove receipt of that subsidy within 12 months of drawing the loan.

You may repay some or all of the loan early. Early payments totalling no more than €10,000 over 12 consecutive months are free. Otherwise the published fee is 1% of the amount repaid early when more than a year remains, or 0.5% in the final year.

The optional Reward is a separate two-percentage-point interest discount. To keep it, pay regularly and on time. For a 13–36 month loan, any partial or full early repayment during the term loses this benefit. For a 37–96 month loan, early repayment must wait until both three years and half the term have passed to retain it. The benefit also lapses after two or more consecutive unpaid instalments or other monetary obligations under the agreement. A fee refund after 60 months requires ongoing payments into the VÚB repayment account of twice the monthly instalment, including the instalments of other loans qualifying for that refund.

You can withdraw from the agreement without giving a reason within 14 calendar days of signing, or receiving the contract terms if later. Where there are multiple borrowers, all must sign the withdrawal. If you have drawn funds, repay the principal and interest for the time borrowed within 30 calendar days after sending the notice; withdrawal itself carries no charge. Serious arrears can make the whole debt due. You must be wholly or partly late with at least three instalments, and those overdue instalments must total at least 10% of the loan for a term of up to three years, or 5% for a term longer than three years and up to ten years. VÚB must give you a notice allowing at least 15 days from receipt to pay the overdue instalments. If you do not pay them within that period, the whole debt becomes due.