ING Bank Romania launches "green" loans for individuals

ING Bank Romania launches what it claims to be the first 'green' loan in its retail portfolio, dedicated to those wanting to buy a full-electric or hybrid electric vehicle.

Derived from the credit offer for personal needs, it has an interest rate between 5.49% and 9.99% per year - "almost two percentage points lower than the standard personal loan offer".

The average effective interest rate for domestic currency consumer loans in Romania was 9.32% in June, according to data from the National Bank of Romania (BNR).

"We hear more and more in Romania about sustainable or green loans, most of them focused on the segment of large companies, where ING is also very active. But retail must also keep up and come up with solutions that reward those who want to protect the environment ", says Roxana Cristea, Lending Tribe Lead ING Bank Romania.

In the first phase, this 'green' loan is available in limited numbers, until the end of the year.

Also in the retail area, but the mortgage lending segment, BCR bank (part of Erste Group Bank) has started promoting a product intended for individuals who want to purchase green homes certified by the Romanian Council for Green Buildings. The new loan product is cheaper than the classic loans, BCR claims, having a variable interest rate of 3.55% (benchmark rate of IRCC + 2.3pp) per year.

(Photo courtesy of the company)