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Permanent TSB has announced a reduction in its variable interest rates for homeowners borrowing under the Government-supported Home Energy Upgrade Loan Scheme, aimed at improving energy efficiency and reducing household energy costs.

The scheme allows eligible homeowners to borrow between €5,000 and €75,000 to fund retrofit works such as insulation upgrades, heating improvements or solar installations. It is administered by the Strategic Banking Corporation of Ireland on behalf of the Department of Climate, Energy and Environment.

The revised rates, which apply from today, vary depending on the loan size. Borrowers taking out between €5,000 and €14,999 will now pay 4.15%, a reduction of 0.4%. Loans ranging from €15,000 to €24,999 are available at 3.75%, also down 0.4%. For amounts between €25,000 and €49,999, the rate has fallen by 0.5% to 3.35%, while the largest loans of €50,000 to €75,000 are now priced at 2.99%, reflecting a reduction of 0.56%.

Alongside the rate cuts, the bank has introduced a new online Home Upgrade Tool to help homeowners plan suitable energy improvements. The tool uses a property’s Building Energy Rating, where available, to recommend tailored retrofit packages. These range from comprehensive upgrades to individual measures such as attic insulation or solar photovoltaic panels.

The system draws on data from the national BER database maintained by the Sustainable Energy Authority of Ireland. Where a BER is unavailable, the tool estimates a property’s rating based on its location and information provided by the homeowner.

PTSB said the changes are intended to encourage more households to take practical steps to improve comfort and reduce long-term energy bills, particularly during colder months. The SBCI also welcomed the move, noting that lower borrowing costs can make energy upgrades more accessible and support wider participation in the scheme.

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