Fibank 
Consumer loan “Green energy for households”
Term
Up to 10 years
Advantages
Grace period on principal and interest for the first 3 months
Purpose
For purchase of installation for own production of energy
Maximum Amount
Up to BGN 25,000
“Green energy for households” consumer loan is a convenient way to receive funds for the purchase and assembly of installation for your own production of energy from renewable sources:
- Photovoltaic system up to 10 kWp, including electrical energy storage systems, or
- Solar installation for domestic hot water supply;
Approval for grant funding from the Ministry of Energy under the National Renewable Energy Household Support Scheme (the Scheme) is required. According to the terms of the Scheme, the grant funding is disbursed after the installation has been completed.
You can take advantage of:
- Facilitated application at Fibank office that is convenient for you;
- Possibility to use a grace period on principal and interest for the first 3 months;
- Repayment of loan installments with the funds saved for electricity and/or heating;
We can offer you:
- Repayment period up to 10 years;
- Attractive interest rate;
- No collateral and insurance required;
Loan parameters:
| Purpose of loan: | For purchase and assembly of installation for own production of energy from renewable sources, including systems for storing the produced electrical energy |
|---|---|
| Maximum amount: | Up to BGN 25,000 / equivalent in EUR, but not more than the amount due under the contract concluded with the company for the sale and installation of photovoltaic system or solar installation for domestic hot water supply. |
| Term: | Up to 10 years |
| Grace period: | Possibility of up to 3 months initial grace period on principal and interest |
| Collateral: | No collateral required |
| Interest conditions: | 5.80% variable annual interest rate, based on SBIR* + margin |
| Repayment: | When using a grace period - at monthly annuity installments due after the grace period expires. During the grace period, interest is charged, which is payable together with the first repayment installment, according to the repayment schedule of the loan.
In case of refusal of a grace period - in monthly annuity installments.
After receiving free financing under the Scheme, the borrower undertakes to repay the loan with the amount received. |
| Collateral: | No requirement for collateral, incl. guarantor/s |
| Application fee: | BGN 25,00 |
| Loan negotiation fee: | BGN 352.05 , payable at the latest on the day of signing the loan agreement |
| Early repayment fee: | Not due |
| APR (annual percentage rate of expenditure): | APR: 6.52%, calculated for a loan amount of BGN 25,000, repayment period 120 months, with a variable interest rate of 5.80% for the repayment period, assuming that the borrower does not use a grace period and with following costs included: fee for application at bank’s office BGN 25.00, loan negotiating fee - BGN 352.05, one-time fee for opening current accounts with a debit card in national and foreign currency BGN 2 and monthly fee for keeping a current account with a debit card BGN 2.50. The monthly installment with the specified parameters and fully utilized loan will be BGN 275.05. The total amount due will be BGN 33 684.59. |
* SBIR is a reference interest rate based on savings, calculated for each individual type of currency according to a methodology announced by the Bank. In individual cases, the specific financing conditions determined by the bank may differ from the values indicated above.
Application and documents:
In order to apply for “Green Energy for Households” consumer loan, you need:
- to be an able-bodied natural person between 18 and 65 years of age at the time of loan repayment;
- to be approved for financing by the Ministry of Energy under "National scheme for supporting households in the field of energy from renewable sources"
Required documents:
- Loan application;
- Copy of identity card;
- Copy of contract for sale and assembly of installation;
- Registration number of application request under Scheme;
Other documents at discretion of the Bank.