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Public relations section
Raiffeisenbank is the first bank, which has successfully started the Energy efficiency program. Usually the loans are used for double glazing and insulation. Borrowers benefit a grant of up to 20% of the loan. At the moment Raiffeisen ranks first in the number of lended Energy Efficiency loans. The procedure of lending is fast and simple. The practice shows, that the most of the requests are approved.
The bank finances private individuals’ projects for increasing energy efficiency of the households under a EUR 10 mln. loan from EBRD. The Energy Efficiency loan allows households to cut down energy consumption and costs. Individuals use Raiffeisenbank’s loan to improve, for example, double glazing, interior and exterior insulation, incl. roofs and floors, etc. The interest rates of Raiffeisenbank's “Energy efficiency” loan are more favorable for individuals than other credit products and ways of financing. One of the main advantages of the loan is that borrowers benefit as a grant up to 20% of the loan amount upon completion of the works. The percentage of the grant depends on the type of the project but the maximum amount that one family may receive is EUR 850. The resources for the grant scheme are provided by the Kozloduy International Decommissioning Support Fund and EU.
The maximum amount of the “Energy efficiency” loan is BGN 15 000 and the minimum – BGN 1 000 or their equivalence in Euro. The repayment period is from 1 to 5 years. The client has the possibility to choose a gratis period from 6 or 12 months. The interest rate is 11 per cent for loans in BGN and 10 per cent for loans in Euro.
“ENERGY EFFICIENCY” LOAN OF RAIFFEISENBANK (BULGARIA) EAD
Clients who want to apply for the Energy Еfficiency loan of the Bank can choose among the following options:
The client chooses the company for supplying/installment from a list that has signed a contract with the Bank for joint action and approved by EBRD consultants. The Bank transfers the sum of the loan on the account of the supplying/installment companies, after the approval of the project by the consultants and the signing of the loan contract with the client.
The client signs a contract for supplying/installment of materials/tools/equipment with a company that doesn’t have a contract with Raiffesenbank for joint action and is not in the list of EBRD consultants. The consultants and the Bank check only the purchased materials/tools/equipment. The Bank transfers the sum of the loan on the client’s account.
The Bank allows the option that the client is installing the purchased materials with his own labour. The Bank transfers the sum of the loan on the account of the client after the approval of the project from the consultants and the signing of the loan contract with the client.