The concept of Green Buildings is spreading rapidly all across the world. I was aware of the term mortgage. It refers to a process by which something is offered or collateral against a loan. But the concept of what is a green mortgage was alien to me. But, now I know it is a mortgage that is targeted mainly at green buildings. In such cases, the borrower is encouraged to either buy or renovate an existing property and make it greener or eco-friendly. The bank will offer them either a low-interest rate or an increased amount. This is the basic meaning of what is green mortgage. Let me cite now why the world is preferring green buildings now.
Avail home loans with no hidden charges easily through NoBroker here Check your EMI using the NoBroker EMI calculator What is green house loan?Any home loan that is availed to buy or renovate a green or eco-friendly building is called a Green House loan. In India SBI or State Bank of India has adopted a Green Banking Policy. This method is implemented so that India can contribute towards the fight against adverse climate change. Such loans will help the borrowers to get Green Projects or buildings that will reduce carbon emissions and promote renewable energy. This is the green home loans meaning in simplest terms.
More banks in the future might initiate more benefits in Green home loans or green mortgage and encourage eco-friendly buildings.
Read More:How Green Building is Different from Conventional Building?
What is Green Building?
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Authors Of The Question
What is a Green Mortgage?
Saif
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1 Year
2023-02-06T10:23:49+00:00 2023-02-06T10:47:50+00:00Comment
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