Thanks to the hundreds of hours of sunshine we enjoy in Cyprus every year, the generation of electricity via photovoltaic panels is an extremely effective way of harnessing the power of the sun and taking full advantage of this abundant and valuable energy source.
As part of its Colour it Green range of products, Marfin Laiki Bank has designed a special loan scheme for the purchase and installation of photovoltaic equipment, enabling you to buy and install the system you want so as to start producing your own electricity. The loan also provides finance for the purchase of other equipment designed to utilise renewable energy sources, such as solar thermal and small wind systems.
The loan is available to private individuals who are permanent residents of Cyprus. It is also offered to legal entities engaged in economic activity within the Republic of Cyprus. Whether you are interested in installing a small photovoltaic system at your home or business premises or are considering investing in a much larger system installed on a plot of land – a “photovoltaic park” – Marfin Laiki Bank can help support you.
Key features and benefits of the loan:
- Long-term repayment period of up to 20 years.
- A flexible and convenient repayment programme. You can choose to pay your instalment every month, every two months or every six months, whichever suits you best.
- Repayment includes both capital and interest throughout the duration of the loan. The possibility of a capital and interest-free period for up to a maximum of 4 months is available at the start of the loan
- No contribution is required from you - you can borrow up to 100% of the amount you need.
Requirements:
- You must have the necessary approval from the Department of Energy of the Ministry of Commerce, Industry and Tourism for the installation of your system.
- In cases where a grant is being received from the government, this must be deposited directly into your loan account. The same condition applies regarding income generated by the sale of electricity to the EAC. In this way, a large part of your repayments can be met without having to resort to your own personal resources.
- In order to protect your investment, the system must be insured against fire, earthquake, flood etc.
WARNING: Your immovable property is at risk if you do not keep up with the payments on loans secured by a mortgage on your immovable property.
The Bank may vary the interest rate and the instalment of the housing loan from time to time.
A minimum Advances Documentation Fee of EUR50 (maximum EUR500) and minimum Arrangement Fee of 0,50% (maximum 1,50%) on the amount of the new facility are payable.
The granting of the housing loan is subject to adequate securities offered in favour of Marfin Laiki Bank.
Marfin Popular Bank Public Co Limited, as well as any of its subsidiaries, dependant and / or associated companies, reserves the right to reject any customer application at its absolute discretion, where the terms and conditions set are not met.
The Bank reserves the right to modify the minimum criteria / characteristics of the products.
For more information please contact:
 Laiki Telebank on 8000 2000 (free of charge) or +357 22 88 77 66 if calling from abroad
 Marfin Laiki Bank branches
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Colour it Green loans: Energy Saving Scheme for Housing
