Ulster bank launches discounted green loan for energy upgrades

Ulster Bank has launched a discounted loan for home improvements carried out through Sustainable Energy Ireland’s Home Energy Saving scheme and Greener Homes Scheme. Through the schemes, homeowners can apply for a grant to improve the energy efficiency of their home or to install renewable energy heating systems. Those in receipt of a grant are eligible for a 1.4 per cent rate reduction on an Ulster Bank standard fixed rate personal loan for the work carried out.

Launching the product, Joe Heneghan, head of product management for Ulster Bank said: “The Ulster Bank Green Loan benefits homeowners on a number of fronts; in the long term they benefit from the savings of running a more energy efficient house, in the shorter term they receive the SEI grant and a reduced loan rate to undertake the renovations."

He added, “The Home Energy Saving Scheme and Greener Homes scheme encourage people to do their bit for the environment, and we are very happy to support the grants by offering reduced rates for home improvement.”

Ulster Bank is offering loans of €1,500 to €40,000 with a 1.4 per cent discount on standard fixed rates for personal loans. All applicants must be approved for a grant under Sustainable Energy Ireland's Home Energy Saving scheme or Greener Homes scheme to avail of the discount.

Further information on Green Loans is available in all Ulster Bank branches in the Republic of Ireland or by visiting www.ulsterbank.ie/greenloan. To find out more about the grants available from Sustainable Energy Ireland, visit www.sei.ie.