“Exoikonomo 2023”

" Exoikonomo 2021" Program allows you to:

• upgrade your main residence,
• save energy and money,
• contribute to the protection of the environment

In addition, you benefit from:

• 10.000 yellows* after the final disbursement of the loan  
• Green Consumer Loan** with preferential interest rate and zero loan application assessment fee is available, to cover green needs 
• ERGO My Home, home insurance program from 1,7€/sqm***

^* Yellows will be credited to the account of the main borrower of the loan, who must be a member of the yellow Rewards Program, up to 35 days after the final disbursement of the loan

^** Green Consumer Loan is offered regardless of the financing choice of the project, i.e., either with a loan or own funds

^*** The price is indicative for an apartment of 90 sq.m., in Athens, built in 1990, with building coverage of 135.000€ and insurance policy exemptions are applied. Terms and conditions apply.

Furthermore, you receive:

 1.  Loan with preferential terms

• • 100% subsidized* rate, for the entire loan duration
  • Full or partial early repayment of the loan, without penalty
  • Guarantee of the Greek State** for the beneficiaries of the 1st category
  • No loan expenses
  • No collaterals

* The loan interest subsidy will be automatically be discontinued in case of late payment of 3 installments of your loan.

**100% guarantee is provided for house ownership and 80% for rental/donation.

 2.  Up to 75% grant

Depending on your family and income situation and the use of the eligible residence (owning/renting/donation), the subsidy on the cost of interventions amounts to up to 75%. New "Exoikonomo 2023" program provides the possibility of granting advance payment to suppliers from the grant, up to 70%, thus immediately paying off a large part of the total cost of the project. This option is activated after the Delegation Decision issuance and loan advance distribution.

 3.  Free Project Consultant services

The submission of the application, the monitoring of its progress, the detailed recording of the required data and the posting of supporting documents on the Information System of the Program until the final disbursement should be assigned to a technical project consultant.The project consultant's fee is considered to be eligible expense, in accordance with the maximum limits mentioned in the Program Implementation Guide and is paid upon the total disbursement by the Bank, provided that the application is submitted and the minimum energy goal of the program is met.

 4.  Covering the cost of Energy Inspections

Τhe program requires for two energy inspections to be carried out and the respective Energy Performance Certificates (1^st &2^nd EPC) to be issued. The total cost of the two energy inspections is fully covered by the Program, in accordance with the maximum limits mentioned in the Program Implementation Guide, provided that the application is submitted, and the minimum energy goal of the program is achieved. It is mentioned that the cost of 1^st EPC is eligible only if it has been issued by 01/02/2020. EPC that have been issued after 27/11/2017 can be used at the program but in this case their expenses are not covered by the Program. For each energy inspection, you pay the inspectors' fee with your own money, and at the final disbursement of the program, inspectors fees are credited to your account, based on the receipts you enter in the Information System. The inspector of the second energy inspection that will take place after the implementation of the interventions (2^nd EPC), must be different from the inspector of the first energy inspection (1^st EPC). The selection process will be carried out under the responsibility and authority of the Technical Chamber of Greece (T.E.E.) following a public lottery, during which the relevant legislation on the incompatibility of Energy Inspectors will be observed.

 5.   Covering the costs for potential assessments / required approvals-licenses / Electronic Identity of the Building

Expenses for any licenses/approvals issued or assessments required by the current legislation on the implementation of interventions (such as fee for the approval of small-scale construction works, fee for the assessment of internal gas installation), as well as the fee for the Electronic Identity of the Building, are all covered by the Program and are paid upon the total disbursement of the loan. Especially for the Electronic Identity of the Building the amount will remain in your account, as you should play for it with your own money when it is issued.

 6.   Covering the managing cost of the loan

You are not charged with loan application expenses, as these are covered by the Program.

Loan amount

Up to 14,850€, depending on the responding category of the program.

Interest rate

The interest rate is fixed for the entire loan duration, set at 6,50%. In all categories, the interest rate is fully subsidized for the entire duration of the loan, except for the levy of Law 128 / 75. The levy today set at 0.12% and is paid by the borrower.

Duration

4, 5 or 6 years

Disbursement

The loan disbursement takes place gradually, credited directly to the bank account of the suppliers/ contractors as below:

• Advance payment: amounts to 70% of the loan
• 2nd partial disbursement: the remaining amount of the loan

Note: The remaining amount of grand and all other benefits of the program (interest already paid until the second partial disbursement, 1st & 2nd energy inspection fees, fee for any project consultant, fee for the Electronic Identity of the Building) will be disbursed in accordance.

Repayment

The loan is repaid in monthly interest-bearing installments.
From the first gradual disbursement of the loan until its final disbursement, all the interest is paid by the customer. Following the completion of the project and provided that the energy goal is achieved, and you are entitled to the benefits of the program, the interest you have paid is returned to your account and the interest rate is fully subsidized.
The loan interest subsidy will be automatically stopped in case of late payment of 3 installments of your loan.
Installments are paid automatically each month through your deposit account.

Early repayment option

Full or partial, free of charge

Collateral

No collaterals are required
100 % guarantee of the Greek State is provided for the beneficiaries of the 1st category,for house ownership and 80% for rental/donation.

Expenses

• No loan expenses
• In case that your supplier/ contractor cooperates with a different financial institution, you will be charged with remittance costs, according to the Bank’s, Pricing Policy, upon paying the suppliers.

Financial Loan Pre-approval Documents «Exoikonomo 2023»

Valid passport or ID card from your country of origin (in Latin characters). It is required for all loan participants

For non-EU citizens:

• • Valid residence permit, for all loan participants
  • Valid passport from your country of origin or Special ID Card for Aliens of Greek Descent or Alien’s ID Card (if you are not of Greek descent) for all loan participants.

For employees/pensioners:

• • Income tax return form of last year for Greek citizens and of the last three years for EU and non-EU citizens
  • Income tax statement (E1 form) of the last fiscal year
  • For employees, last payroll slip or an official annual income certificate from the employer’s accounting office. The certificate must include all income details (recruitment date, gross and net earnings, social security contributions and tax)
  • For pensioners, latest quarterly pension statement or the latest pension payment slip

For freelance professionals/ entrepreneurs / farmers:

• • Income tax return forms of the last two years for Greek citizens and of the last three years for EU and non-EU citizens
  • Income tax statement (E1 form) of the last fiscal year
  • Documents for the last two years proving the turnover of the sole proprietorship, general partnership, limited company, etc. (E3 or N form) for Greek citizens and of the last three years for EU and non-EU citizens
  • Certificate of dividend yield if you are shareholder in a company.

If you are a Piraeus Bank customer, it is possible that the identification documents that you provided to the Bank in the past may be outdated. In this case, you will need to provide updated documents.