A green loan can best be described as a credit taken out to install solar panels or to insulate the house on an environmentally friendly basis. Taking out a green loan as part of insulating and energy-saving measures provides several advantages. In this way, it will be possible to benefit from a lower energy bill in the future and will also increase comfort in the residential area. It is also good for the environment and increases the value of the home.
|Lender||Information||Max. Loan||To request|
|Review|| $ 200,000|
Interest (APR) 1.89%
|Review|| $ 50,000|
Interest (APR) 1.49%
Reasons for taking out a green loan
If a renovation is carried out or the house is insulated on several points, it often costs a lot of money. In that case, a green loan can offer a solution. There are several banks that offer green loans to stimulate energy-saving measures. An additional advantage for the consumer is that a green credit is often accompanied by an advantageous interest rate .
In the field of credit in general, the green loan usually even has the lowest interest rate. The annual cost percentage of green loans is on average between 2.5 and 4 percent. Taking out a loan costs money, but the insulating and energy-saving measures will pay for it in the future.
Interest discount for green renovation
It is certainly wise to compare green loans from multiple banks to find out where the highest interest discount is offered. In the past, the government subsidized loans for environmentally friendly renovations, but that is no longer the case. However, the banks still largely adhere to the criteria which must be Demorei in order to qualify for a green loan.
There are several green renovations in this regard, such as installing solar panels for generating electricity, installing a water heating system based on solar energy and realizing a green roof. The installation of high-efficiency glazing is also covered, as is the replacement of an old boiler.
The installation of a heat pump is also included in the green renovations, as is the installation of a heat control in the form of a room thermostat with a timer or the installation of thermostatic valves. Geothermal energy generation and the execution of an energy audit of the house are also included.
In order to qualify for a green loan, the entire renovation does not have to be classified as green . There are also a number of banks that consider home automation systems to be green renovations.
A green credit for renovation is in principle the same as a renovation loan, but with the difference that it concerns an ecological and environmentally friendly spending target. It is determined in advance what the loan amount is and also what the term is concerned. During the term, a fixed annual cost percentage applies. There is a monthly repayment that consists of part APR and part repayment.
It is advisable to use a loan simulation , so that insight can be gained into the options available at multiple credit providers. Banks can use different terms for a green loan and these vary from an eco credit to an eco-housing loan and from an energy credit to a heating loan.