Environmental loans at 0% interest rate
Sparebank 1 Hallingdal Valdres offers loans at an unbeatable interest rate. The bank focuses heavily on the environment, and offers private customers Environmental loans at 0% interest rate.
A few weeks ago, the Roadmap for Green Competitiveness in the Financial Industry was handed over to the Minister for the Environment at Finans Norge’s Sustainability Conference. There is a clear expectation that more financial players will come up with financial solutions to contribute to the transition towards a low-emission society. One example is the green loans by DNB.
One bank has already thought green for a while and launched its first Environmental product 2 years ago. Namely, Environmental loans at 0% interest rate.
– We did not start with sustainability documents and routings, we started with the idea that we would do something tangible that actually made it easier for most people to make choices that are environmental friendly, says Bank Manager, Knut Oscar Fleten.
In the spirit of the Environmental loan, the bank has also launched other environmental products.
The environmental loan is focused on energy-efficient choices for housing and cabins and is provided through three different measures. Customers can obtain loans to carry out individual measures in their home or cabin. By upgrading the building to a better energy level and if you build a house or cabin at energy level 2 or better.
The loan always follows Enova’s guidelines. This means that the loan can be granted to all the measures that Enova support provides. The difference is that the Environmental loan also covers measures in cabins.
– That means that it if it is covered by what you get support for from Enova, it is possible to get Environmental loans from us, says Fleten.
The interest rate of 0% only applies to the measure and is increased by 0.5% per cent a year, up to a maximum of 1.5%. There are no fees attached to the loan. The requirement to get the Environmental loan is that you are, or becomes a customer of SpareBank 1 Hallingdal Valdres.
SpareBank 1 Hallingdal Valdres goes forth
The Environmental loan is only one of the green products SpareBank 1 Hallingdal Valdres offers – after enterering as financial partners of the solar power supplier, Otovo, and the heat pump importer ABK – tailor-made Solar Power and Heat Pump loans.
– We want to help make it easier for individuals to make environmentally friendly choices and spend a lot of time working on developing and discovering other green solutions within our business area, Fletten states.
As part of the strategy, the bank employs an environmental engineer. This employee will assist with knowledge both internally and to its customers.
– Knowledge of environment becomes important in the future. We will continue to develop with stimulating solutions for the environment. At the same time, we want to be an offensive driving force for both private customers and businesses in terms of environment, and not least innovations related to this. Then it is both important and necessary to raise the competence internally. We will not stop now. We have only just started –it is now it really takes off, says the Bank Manager.
© Sparebank 1 Hallingdal Valdres / #Norway Today