Exoikonomo 2023

*6.50%, fixed and 100% subsidized for the entire duration of the loan plus levy of L.128/75 (today set at 0.12%.

The loan is repaid in monthly interest-bearing installments. Installments are paid automatically every month through your bank account.

From the first gradual disbursement of the loan until its final disbursement, you pay the full amount of interest on each installment. Then, upon completion of the project and provided that the energy goal is achieved and you are eligible for the benefits of the program, the final loan disbursement is made, at which point the interest you have paid is returned to your account and the interest rate is fully subsidized.

The loan interest subsidy will be automatically stopped in case of late payment of 3 installments of your loan.

At Piraeus, we support your plans for the energy upgrade of your main residence through the "Exoikonomo 2023" program of the Ministry of Environment and Energy.  

The "Exoikonomo 2023" program is designed for energy saving interventions in the residential building sector, aiming at reducing energy needs and the consumption of conventional fuels.

Funded by the resources of the Recovery and Resilience Fund with funding from the European Union - NextGenerationEU. The funds are distributed per Regional Unit and its goal is to contribute to the energy renovation of at least 105,000 houses by 2025.

• Program Implementing Body: Technical Chamber of Greece
• Financial Management: Hellenic Development Bank S.A.

• Window frame replacement/Shading systems /Ventilation systems
• Thermal insulation installation / upgrade
• Heating / cooling system upgrade
• Hot water system using Renewable Energy Sources (RES)
• Other energy saving Interventions (installation of energy management systems - smart home), if the energy upgrade proposal includes energy saving interventions.

The total eligible budget for the implementation of the interventions cannot exceed:

• €24,750
• The product of €1.10 multiplied by the total estimated annual primary energy savings (kWh) as derived from 1st EEP
• The product of €220 multiplied by the total square meters of the main areas of the eligible house as derived from form E9

To find out more about the Exoikonomo 2023 program visit:

• The official website of the program (https://exoikonomo2023.gov.gr)
• The website of the Ministry of Environment and Energy (https://ypen.gov.gr)
• The website of the Implementing Agency (https://web.tee.gr)

• 100% subsidized⁽¹⁾ rate, for the entire loan duration
• Full or partial early repayment of the loan, without penalty
  
• Guarantee of the Greek State⁽²⁾ for the beneficiaries of the 1st category
  
• No loan expenses
  
• No collaterals

(1) The loan interest subsidy will be automatically be discontinued in case of late payment of 3 installments of your loan.
(2) 100% guarantee is provided for house ownership and 80% for rental/donation.

"Exoikonomo 2021" Program, benefits from:

• 10,000 yellows⁽¹⁾ after the final disbursement of the loan  
• yellows reward every month for on-time payment of mortgage installment
• Green Consumer Loan⁽²⁾ with preferential interest rate and zero loan application assessment fee is available, to cover green needs 
• ERGO My Home, home insurance program from €1.7/sqm⁽³⁾  

(1) Yellows will be credited to the account of the main borrower of the loan, who must be a member of the Υellow Rewards Program, up to 35 days after the final disbursement of the loan.
(2) Green Consumer Loan is offered regardless of the financing choice of the project, i.e., either with a loan or own funds.
(3) The price is indicative for an apartment of 90 sq.m., in Athens, built in 1990, with building coverage of 135.000€ and insurance policy exemptions are applied. Terms and conditions apply.

• Use as a main residence, by the owner (owner-occupied) or a third party (e.g. tenant).
• It exists legally, i.e. it has a building permit or other legal document.
• It is classified on the basis of the First Energy Performance Certificate (1st EPC) in a category less than or equal to C.
• It has not been characterized as demolishable.

• Ownership of an eligible property with any percentage of full ownership / fractional ownership / usufruct.
• Coverage of the income criteria set out in the Program Guide

Notes:

If there are other co-owners in the eligible residence then:

• only the person who owns the property has the right to participate
• in cases of free concession / rental, the owner has the right to participate with full ownership / usufruct (not fractional ownership), with the consent of the rest
• if the eligible property is vacant, only the owner with full ownership or the usufructuary is eligible to participate
• short-term rental residences are not eligible

The application is submitted only digitally through the Information System of the official web portal of the program (https://exoikonomo2023.gov.gr), at the dates set by the program guide, which may be modified, if it is necessary and be announced on the above website of the Program.

The deadline for application submission is set between 12 June 2023 and 15 November 2023, according to the program guide.

With a Joint Ministerial Decision published on 02/02/2024, it is possible to submit new applications, exclusively for the beneficiaries of the 1st income category, for the period from 07/02/2024 – 29/03/2024.

Beneficiaries can apply for a loan using the program's Information System activated since 23/09/2024.

Brief Program Procedure

 1.   Online application at the program’s official site https://exoikonomo2023.gov.gr

 2.   Registration of income and property data in the Program's Information System, conducting automated electronic eligibility checks, recording the required supporting documents, receiving the energy data of the 1st EPC, and submitting a proposal with the costs of interventions and other expenses.

 3.   Submission of the application to the Program and receipt of a unique protocol number.

 4.   The total score of the application is automatically calculated based on the evaluation criteria of the Program and ranking provisional lists per region with "eligible" and “runners-up" applications are drafted.

 5.   Submission of Electronic Identity of the building, only for the “eligible" applications, within an exclusive deadline of seventy-five (75) days.

 6.   After the evaluation of the applications and the issuance of Provisional Lists of Eligible / Runners-up / Rejected applications per region, the right to appeals is given within an exclusive deadline of ten (10) days.

 7.   Final Lists of Approved / Runners-up / Rejected applications per P.E. are issued and budget is committed

 8.   Choice of funding scheme (own funds or loan) within an exclusive deadline of 10 days.

 9.   If loan option has been selected: completion of required loan application fields & posting of financial pre-approval documents in the Information System, loan evaluation and financial pre-approval.

10.  Declaration of a bank account in the Information System for crediting the grant.

11.   Delegation Decision issuance in the Program by the implementary of the Program (Technical Chamber of Greece).

12.   Deposition of the grant advance to the declared bank account.

13.   Attendance at the bank & loan agreement signing within an exclusive deadline of 90 days from the Delegation Decision issuance (If loan option has been selected).

14.    Down payment loan disbursement (If loan option has been selected) and suppliers/contractors payment, using loan amount or own funds through bank account.

15.   Payment of suppliers/contractors by grant advance, according to the orders have been entered in the program's Information System.

16.   Implementation of the interventions within 12 months from the issuance of the Delegation Decision (with the possibility of extension up to ninety 90 days) & carrying out a 2nd Energy inspection.

17.   Attachment of documentary expenses & other supporting documents in the Information System & file control by the Technical Chamber of Greece.

18.   Approval of the project by the Beneficiary (Hellenic Development Bank) total loan disbursement (if loan has been selected) / grant / benefits & repayment of suppliers.

Financial Loan Pre-approval Documents "Exoikonomo 2023"

 1.  For citizens of the EU member-states:
Valid passport or ID card from your country of origin (in Latin characters). It is required for all loan participants

For non-EU citizens:

• Valid residence permit, for all loan participants
• Valid passport from your country of origin or Special ID Card for Aliens of Greek Descent or Alien’s ID Card (if you are not of Greek descent) for all loan participants.

2.  Proof of income documentation:

For employees/pensioners:

• Income tax return form of last year for Greek citizens and of the last three years for EU and non-EU citizens
• Income tax statement (E1 form) of the last fiscal year
• For employees, last payroll slip or an official annual income certificate from the employer’s accounting office. The certificate must include all income details (recruitment date, gross and net earnings, social security contributions and tax)
• For pensioners, latest quarterly pension statement or the latest pension payment slip

For freelance professionals/ entrepreneurs / farmers:

• Income tax return forms of the last two years for Greek citizens and of the last three years for EU and non-EU citizens
• Income tax statement (E1 form) of the last fiscal year
• Documents for the last two years proving the turnover of the sole proprietorship, general partnership, limited company, etc. (E3 or N form) for Greek citizens and of the last three years for EU and non-EU citizens
• Certificate of dividend yield if you are shareholder in a company.

If you are a Piraeus Bank customer, it is possible that the identification documents that you provided to the Bank in the past may be outdated. In this case, you will need to provide updated documents.