AstroBank
Home  / Press / Archive / News & Announcements / Photovoltaic System Loans
Photovoltaic System Loans
Bookmark and Share Zoom out Zoom in Print-Friendly PageEmail a Friend

“Invest” in the sun

Photovoltaic System Loans

Piraeus Bank (Cyprus) Ltd, sensitive in environmental issues, promotes a new financing product for the purchase and installation of photovoltaic systems.

What are photovoltaic systems?
Photovoltaic systems convert solar radiation to electric energy. They can be placed/installed both on buildings and land plots. Their operation is reliable, silent and pollution free with lifetime duration of up to 30 years which requires minimal maintenance.

Photovoltaic systems result in:
• Environmental benefits, for the society
• Economic benefits for those installing them either on their house, plot of land or their enterprise

Characteristics
Loan Purpose
• Purchase and installation of photovoltaic systems up to 20KW

Addressed to
• Private individuals
• Companies

Repayment method
• Monthly installments which include interest and capital
• Up to 15 years provided that the total tenor does not exceed the 70th year of the applicant’s age
• Grace period of up to 6 month on capital
• The loan is being repaid at a great extend by:
1. the government sponsorship from the Ministry of Commerce, Industry and Tourism
2. the receivables from the sale of electric energy to E.A.C
• Partial or full early repayment any time

Loan Amount
Minimum €5,000
Maximum €60,000

Interest Rate
Variable for the whole duration of the loan

For more information, please visit today one of our branches or call at 800 11 800 (+357-22575555 from abroad) 24 hours / 7 days a week.

1. Loan Fees:
  (a) Arrangement Fees: 0.50% on the loan's amount  (b) Documentation Fees: €50.

2. Required Securities:

  • Assignment in favour of the Bank of the subsidy to be received form the Ministry of Commerce, Industry and Tourism
  • Assignment in favour of the Bank of receivables from the sale of electrical energy to E.A.C
  • Assignment in favour of the Bank of photovoltaic systems insurance contract

The approval of the loan is subject to the admission of satisfactory guarantees by Piraeus Bank (Cyprus) Ltd. The Bank reserves the right to wirthdraw or ammend the present offer at its absolute discretion.