To request this loan, you only need to be a private customer, not a self-employed person or a company, and have an account with BBVA (if you do not have one, you can open it during the application process).

You will also need to provide a budget or pro-forma invoice to confirm that the loan will be used for a purchase or upgrade intended to improve energy efficiency, as specified in our list of eligible uses. 

See list

And in order to be eligible for the interest rate of 4.80% NIR 5.08% APR, you would need to direct deposit with BBVA a paycheck for a net amount of at least €600 a month, or a pension for a net amount of at least €300 a month. If you decide not to direct deposit your paycheck or pension, the interest rate would be 1 percentage point higher.

If this happens, late payment interest will be applied. Also, failing to make payments can lead to financial consequences (e.g., forced sale of property) and problems obtaining future loans. 

BBVA recommends responsible financing. 

The NIR (Nominal Interest Rate) is what you pay the bank to lend you money. The NIR is usually less than APR and can't be used to compare the cost of different loans, since it only considers the interest rate and not all the costs of the transaction.

The APR (Annual Percentage Rate) indicates the cost of a financial product, such as a loan, including both the interest and different expenses and fees involved. This figure lets you compare different loans since the lower the APR, the cheaper the loan.

Yes, you will have the right to withdraw from the loan contract without incurring a cancellation fee for 14 calendar days from the date you sign. You would only have to pay back the money received and the interest accrued during those days.

For example: if you apply for a loan of €10,000 with an NIR of 5.95% payable over 8 years (96 months) and decide to cancel it within 14 calendar days, you would have to pay €1.36 for each day that has elapsed.

You can contact our advisers to resolve any doubts you may have. If you need more information, you can consult this generic document with pre-contractual content and an example: 

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