Piraeus Bank Ltd. offers a preferential loan for purchase and installation of photovoltaic systems with a capacity up to 20 kW for companies and private individuals. The loan can be provided in the amount of €5,000 - €60,000 with arrangement fees of 0.50% on the loan's amount and documentation fees of €50.

Loan conditions:

• Monthly instalments 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 (for private individuals);
• 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, or (2) the receivables from the sale of electric energy to EAC (Electricity Authority of Cyprus);
• Partial or full early repayment any time.

Required security:

• 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 EAC;
• Assignment in favour of the Bank of photovoltaic systems insurance contract.