Eco Loans

As part of the APS commitment to its customers, APS Bank offers the Eco Loan. The Eco Loan is available for individuals wishing to purchase products with a positive environmental impact.

There has never been a better time to invest in energy saving and renewable energy sources. Whilst solar water heaters can substantially reduce electricity consumption, photovoltaic (PV) panels and wind turbines can actually generate electricity that the home owner or business can sell back into the grid.

EcoPlus enables domestic home owners and businesses to finance their investment in solar water heaters, PV panels, wind turbines and eco-vehicles. In doing so, EcoPlus empowers personal and business customers to manage their utility bills in a sustainable manner whilst safeguarding the environment.

You can make use of this product when buying any of the following:

  • Class ‘A’ white goods
  • Solar Energy systems (incl. solar water heaters)
  • Thermal insulation/double glazing products
  • Photovoltaic panels
  • Wind turbines
  • Heat pumps
  • Electric / hybrid motor vehicles
  • Bicycles
  • Domestic cisterns restoration (wells)

 

Features & Benefits of the Loan

Interest:

  • variable interest rate of 4.75% p.a for Unsecured Loans
  • variable interest rate of 3.75% p.a for Secured Loans

General Terms:

  • Minimum loan amount €1,000. Maximum loan amount €50,000
  • Salary/income to be directly credited or deposited in full to a current/savings account held with APS Bank
  • Payments will be made directly to supplier/s against presentation of a pro forma/purchase invoice
  • If applicable, government grants are to be deposited in permanent reduction of the facility
  • Maximum Term of 7 years
  • A security may be requested at the discretion of the Bank

Level of Financing:

  • Full financing

Fees:

  • No processing fees
  • No commitment fee
  • No early repayment fee

 

A Representative Example of an unsecured EcoPlus Loan

For a fully utilised unsecured loan of €20,000, at a variable nominal interest rate of 4.75% p.a., and the duration of the credit agreement is that of 84 months, then the *APRC will be 4.85% p.a. The loan will be repayable in equal monthly instalments of €280.95 over a term of 7 years. The total sum payable throughout the term of the loan will be €23.599.80 (being capital of €20,000, and interest of €3,599.80). All EcoPlus loans are subject to a final approval from your APS servicing branch.

*Calculations are based on the below assumptions:

- That the consumer lending bank base rate (currently at 2.25%) remains unchanged during the period of the loan.

- The credit agreement is to remain valid for the period agreed between the Bank and the consumer, and that both parties will fulfil their obligations under the term and by the dates specified in the credit agreement. The consumer has the right to pay the loan in full or in part before the agreed termination. In such circumstances, no early repayment penalty fee is incurred.

- APRC calculation is based on the total cost of the credit to the consumer, expressed as an annual percentage of the total amount of credit.

 

Questions and Answers

Book an appointment at your nearest branch or phone +356 21226644 for more information. Download the Eco Loans brochure below to find out more. Terms & Conditions apply.

Book an appointment

Download brochure

Contact us

 

Approved and issued by APS Bank plc, APS Centre, Tower Street, B’Kara BKR 4012. APS Bank plc is regulated by the Malta Financial Services Authority as a Credit Institution under the Banking Act 1994 and to carry out Investment Services activities under the Investment Services Act 1994. The Bank is a participant in the Depositor Compensation Scheme established under the laws of Malta. Applications are subject to the Bank’s lending criteria. Terms and conditions apply and are available on request.

Copyright © 2017 APS Bank plc
APS Bank plc is regulated by the Malta Financial Services Authority as a Credit Institution under the Banking Act 1994 and to carry out Investment Services activities under the Investment Services Act 1994. The Bank is also registered as a Tied Insurance Intermediary under the Insurance Distribution Act 2018.