Irish borrowers can now enjoy reduction in personal lending rates for certain 'green' home improvements, with the launch of Ireland's first ever green loan scheme.
The new scheme from Permanent TSB will reward borrowers who wish to raise money for green friendly improvements to their homes by offering them a 1% discount on their normal lending rate for personal loans.
The bank has set aside an initial €10m to lend in the scheme to test customer appetite for green lending policies. Niall O'Grady, head of marketing with Permanent TSB, said that the bank would consider extending or expanding the initiative if it proved popular with customers.
The scheme will offer borrowers a 1% discount on the bank's normal personal loan rate for funds borrowed for energy friendly initiatives such as insulation, doubleglazing, solar energy systems, environmentally friendly boilers and heaters, heat pumps, wind turbines and greenhouses.
