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“Upgrade my home” programme
For improved energy efficiency
Collect the information you need
Discover the features
What’s the interest rate
0% on 75% of the loan
You pay no interest for 75% of the loan amount, i.e. for the amount provided by the Recovery and Resilience Facility (RRF).
100% subsidy for the remaining 25%
The interest rate for the remaining 25% of the loan is 100% subsidised by the programme, throughout the loan term.
You repay only the amount you borrowed.
Exempt from the Law 128/1975 levy
You don’t pay the Law 128/1975 levy, currently 0.12%.
What are the loan amount and term
From €5,000 to €25,000
Get from €5,000 to €25,000, depending on the energy efficiency upgrades you need to carry out.
From 3 to 7 years
Repay the loan in 3 to 7 years, depending on your finances.
Collateral-free
No need to provide collateral, i.e. mortgage lien on property or cash collateral.
However, we may ask you or another owner of the property, if any, to provide a guarantee. To do so, you or another guarantor need to sign for the loan. No other collateral is required to take out the loan.
What are the loan fees
No fees
You pay no fees for us to start the process or review your application.
All fixed and lump-sum expenses are covered by the programme.
How you repay it
With equal instalments every month
Once we’ve signed your mortgage loan agreement, we open an account. Your monthly loan instalments are paid automatically by standing order through this account.
You must ensure there is adequate balance in the account every month for your instalments to go through.
Early loan repayment
You may repay your loan at any time without any charges.
Find out how you can repay your loan earlier in full or in part.
Detailed info
Read the pre-contractual information for the "Upgrade my home” programme.
What upgrades are covered by the programme
You may choose just 1 upgrade or combine 2 or more. The VAT is covered by the programme.
Thermal insulation
- Internal or external thermal insulation
- Green roof construction
- Energy-efficient door and window frames and glass panes
- Solar water heater installation
Renewable energy sources
Installation of:
- Photovoltaic stations, small wind generators and other renewable energy sources (RES)
- Energy storage systems (batteries) from renewable energy sources (RES)
Heating and cooling
Installation of heating and cooling system, with exclusive use of RES or with high-efficiency electricity and heat co-generation system, such as electric heat pump or inverter air conditioning units, energy class A+ or higher.
Exterior upgrades
External permanent shading system – excluding awnings
Other upgrades
- Installation of thermostatic regulation systems
- Technical advisory or engineering services
Can I apply for the “Upgrade my home” programme?
Apply provided you...
- Are up to 71 years old at the start of the loan and up to 75 years old at loan maturity.
- Pay taxes in Greece and have a Greek mobile phone number.
- Have updated your details at Alpha Bank.
- Use the loan for your own residence, main or secondary.
- Have not taken out another energy upgrade loan for the same residence financed by the EU.
- Don’t rent out the property, if it is a secondary residence.
Have at hand...
- Your Taxisnet credentials, if you haven’t updated your details and want to do so through eGov-KYC.
- The supporting documents you’ll need, if you haven’t updated your details and choose to do so by uploading the documents.
- Supporting documents to apply for the loan.
Apply for the “Upgrade my home” programme
1. Get loan pre-approval
At the branch we inform you about the benefits and conditions of the mortgage loan.
Once you collect the necessary supporting documents for the loan pre-approval, we fill in the application form together.
If your application is approved, we inform you over the phone and email you the pre-approval letter, the eligibility criteria document and the letter with the programme details.
2. Sign the agreement
3. Take out the loan
Sign the application to have the money available, paid out in 2 instalments. We deposit the 1st instalment, 70% of the loan amount, into your account. To get the 2nd instalment, the remaining 30% of the loan amount, bring the paid-up receipts issued in your name following HDB approval.
If you bring paid-up receipts for the entire amount from the start, you receive the entire loan amount in a lump sum.
Explore other options
Any questions?
Find the answers you need about the “Upgrade my home” programme
What are the requirements to apply?
To apply for the programme, you must:
- Be up to 71 years old at the start of the loan and up to 75 years old at loan maturity.
- Pay taxes in Greece and have a Greek mobile phone number.
- Have updated your details at Alpha Bank.
- Use the loan for your own main residence.
- Not have taken out another energy upgrade loan for the same residence financed by the EU.
- Not rent out the property, if it is a secondary residence.
I have taken out another financed loan for improving the energy efficiency of the same residence. Can I still apply?
Do I need to carry out many energy upgrades at my home?
Take out a loan with the “Upgrade my home” programme
“Upgrade my home”, managed by the Hellenic Development Bank, is implemented in the context of the RRF loan programme financed by the European Union and NextGenerationEU.