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contact@kb.com.mk

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(02) 3 296 800

Energy efficiency loan with EUR clause through GEFF Program of EBRD


 
 
Having in mind the limited funds under EBRD's energy efficiency project line for financing beneficiaries, currently the Bank does not accept new applications for this type of loan.
 
The Bank will notify its clients on any changes regarding the loan in due time.
 
 
kredit

 

The use of energy efficient technologies makes you realize savings on a longer period of time. Now, the funds needed to invest in efficient technologies for your home are available to you through a loan with excellent conditions, with the possibility for return of up to 20% of your loan for that investment.

 

 

Green Economy Financing Facility Program (EBRD GEFF) of the European Bank for Reconstruction and Development provides facility for the residential sector of Western Balkan. The EBRD GEFF for Western Balkan is realized within the Regional Energy Efficiency Programme for the Western Balkans (REEP Plus) supported by grants from the European Union,  Western Balkan Investment Framework and Austrian Federal Ministry of Finance.

 

Advantages

 

  • Return of up to 20% of the loan in form of a grant
  • Amount – up to EUR 50,000
  • Savings over longer period of time by lower energy costs
  • Excellent interest rate of 4.4% p.a., variable
  • Repayment term – up to 20 years

 

Loan purpose

 

The loan funds may be used for financing investments in energy efficient technologies for your home, as well as costs for auxiliary materials, delivery and installation.

 

The loan funds may be used for financing purchase and installation of:

 

  • energy efficient windows, doors and glazing
  • insulation of external walls, the roof, attic, the floor and of partition walls
  • biomass stoves/boilers, gas boilers
  • solar hot water collectors
  • photovoltaic systems
  • heat pump (on electricity or gas)
  • high efficient lightning, low temperature lightning
  • balanced mechanical ventilation
  • storage water heaters

 

The complete catalogue on technologies and products acceptable for and approved by GEFF Program for financing under this loan are presented in the Technology Selector on the following link:

 

selector_mk

 

The GEFF calculator will help you to calculate immediately the savings that would be realized by the implementation of energy efficient technologies within a longer period of time.

 

kalkulator_mk

 

Return of assets (grants)

 

Successfully implemented and verified projects shall be eligible for investment grants up to 20% of the lower value of:

 

  1. Disbursed energy efficiency loan amount, or
  2. Investment costs for realization of the Project.

 

The condition for payment of the grant for the respective investment shall be that the grant beneficiaries are not users of any other grant from any other donor.

 

Beneficiaries

 

The loan is intended for full-time job applicants and pensioners who would like to invest in energy efficient technologies for their home.

 

The technologies eligible for financing under this loan are presented in Technology Selector.

 

The loan is offered under two types of collateral:

 

  • Loan secured by draft and draft statement
  • Loan secured by mortgage on real estate

 

The loan secured by draft and draft statement may be applied for by:

 

  • Creditworthy individuals with a full-time employment for an indefinite period of time (individuals who do or do not receive their salaries at Komercijalna Banka) or
  • Pensioners who receive their pension through Komercijalna Banka

 

The loan secured by mortgage on real estate may be applied for by:

 

  • Creditworthy individuals with a full-time employment for an indefinite period of time (individuals who do or do not receive their salaries at Komercijalna Banka) or
  • Pensioners who receive their pension through Komercijalna Banka

 

How to apply for

 

  1. Select the technology you would like to install and provide a proforma-invoice from the supplier.
  2. Fill out and verify (by seal and signature) the short loan application.
  3. Provide technology eligibility certificate through the Technology Selector of the GEFF Program.
  4. Submit the loan application and the supporting documentation at any of the nearest larger city-branch or branch of the Bank.

 

Loan amount

 

  • From EUR 200 to EUR 25,000 in denar equivalent, for loan secured by draft and draft statement
  • Up to EUR 50,000 in denar equivalent, for loan secured by mortgage on real estate

 

Repayment period

 

  • From 12 to 95 months, for loan secured by draft and draft statement
  • Up to 20 years, for loan secured by mortgage on real estate

 

Nominal interest rate

 

  • 4.9% variable (4.9% + six months EURIBOR) for loan secured by draft and draft statement
  • 4.4% variable (4.4% + six months EURIBOR) for loan secured by mortgage on real estate

 

*The 6-month EURIBOR rate shall be announced on each 31 December and on each 30 June on the web site of the Bank and it shall be applied for the current six months (by the end of the half year). if the rate is of negative value, the nominal interest rate shall be calculated with value of 0.00.

 

Annual rate of total expenses (RTE)

 

  • 5.59% p.a.,  for loan secured by draft and draft statement
  • 4.65% p.a., for loan secured by mortgage on real estate

 

RTE extent depends on the loan repayment period, loan amount, the amount of the loan costs that are included in the calculation of RTE and the extent of the nominal interest rate.

 

Criteria

 

For loan secured by draft and draft statement:

 

  • Monthly income of minimum MKD 14,500, for employed individuals, or MKD 9,000 for pensioners
  • Monthly loan installment should be covered by 1/2 of the monthly inflow
  • With the last monthly loan instalment, the age of the Borrower should not exceed 70 years, or 72 years for pensioners

 

For loan secured by mortgage on real estate:

 

  • Monthly income of minimum MKD 14,500, for employed individuals, or MKD 9,000 for pensioners
  • Monthly loan installment should be covered by 1/2 of the monthly inflow
  • Another 2 persons, at most, may join as loan applicants, provided that they are creditworthy 
  • If any of the applicants is a part-time employee, the application should be joined by at least one full-time employee as an applicant
  • With the last monthly loan instalment, the age of the Borrowers should not exceed 70 years

 

Loan costs

 

For loan secured by draft and draft statement:

  • 2% of the loan amount, minimum MKD 1,000 loan approval costs,
  • MKD 500 for loan application and processing,
  • Charges for the grace period interest (the grace period interest rate is calculated from the date of loan funds disbursement until the loan repayment commencement date at interest rate equal to the loan interest rate)
  • Draft costs

 

For loan secured by mortgage on real estate:

 

  • 1,25% of the loan amount, minimum MKD 4,000 loan approval costs,
  • MKD 700 for loan application and processing,
  • Charges for the grace period interest (the grace period interest rate is calculated from the date of loan funds disbursement until the loan repayment commencement date at interest rate equal to the loan interest rate)
  • Real estate appraisal costs

 

Collateral

 

For loan secured by draft and draft statement:

  • Standing order, for clients who receive their salary or pension through Komercijalna Banka,
  • Administrative ban on salary, for borrowers who receive their salaries through other banks,
  • Draft and draft statement,

 

For loan secured by mortgage on real estate:

 

  • Standing order, for clients who receive their salary or pension through Komercijalna Banka,
  • Administrative ban on salary, for borrowers who receive their salaries through other banks,
  • Lien on real estate in favor of the Bank, with real estate value assessed to 135% of the loan amount (for mortgage secured loans)

 

Approval

The loan shall be approved as soon as possible upon completion of the documentation required and criteria met.

 

Disbursement  

 

  • The maximum loan funds disbursement term is 180 days from the date of approval.
  • The loan funds shall be transferred on the transaction account of the seller / supplier, in accordance with the proforma invoices presented.
  • If the Borrower has a blocked transaction account in ERTS, the loan funds may not be transferred on the transaction account of the seller / supplier.
  • After installing the technology, the program consultant engaged by the EBRD will verify the project, based on the duly submitted documentation and the Project Verification Request.
  • Upon receipt of a project eligibility certificate issued by the program consultant and after the investment grant funds have been transferred to the Bank’s account by EBRD, the Bank will pay the investment grant to the applicant's transaction account.

 

Method of repayment

 

Monthly installments, an installment being due on the 16th day of each month.

 

 

Early repayment

 

Free of charge for early partial or full loan repayment.

 

Documents required

 

For loan secured by draft and draft statement

 

  • Loan application
  • М1/М2 Form
  • The latest pension check (for pensioners)
  • Proforma invoice or an invoice from the seller for the energy efficiency improvement technology selected.  The proforma invoice should contain each actual type of technology financed and the respective price, installation costs for each of the technologies that are to be installed.
  • Technology Eligibility Certificate (available at online Technology Selector)

 

For loan secured by mortgage on real estate

 

  • Loan application
  • М1/М2 Form
  • The latest pension check (for pensioners)
  • Proforma invoice or an invoice from the seller for the energy efficiency improvement technology selected.  The proforma invoice should contain each actual type of technology financed and the respective price, installation costs for each of the technologies that are to be installed.
  • Technology Eligibility Certificate (available at online Technology Selector)
  • Property Specification List (Title Deed) for the real estate offered as collateral
  • Birth / Marriage Certificate of the Debtor
  • Insurance policy for the pledged real estate, vinculated in favor of the Bank

 

Komercijalna Banka AD Skopje shall keep its discretion right to reject the loan application.

 

More information at:

naselenie-geff@kb.com.mk

or at contact center:
(02) 3 296 800

contact@kb.com.mk

 



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