Home › Unemployed › Residence in Monaco › Social work › Loans › Loan for home improvement

Loan for home improvement

Who is eligible?

Insureds who receive family benefits paid by the C.C.S.S.

Under what circumstances?

Work that may be eligible for this loan includes:
  • repair work,
  • sanitation works (installation of water points, bathrooms, separate toilets),
  • improvement works (ventilation, lighting, insulation, installation of gas, electricity),
  • works to make unused rooms inhabitable.
The following are not considered:
  • maintenance work, (paint, wallpaper),
  • works of a lavish nature.

How much?

The maximum loan amount is equal to 80% of the cost incurred up to:

  • €12,384 on October 1, 2022

Under what terms?

for payment

The loan is paid to the employee, in two equal instalments:

  • the first when the loan agreement is signed,
  • the second on presentation of the invoice.
for repayment

In a maximum of 36 monthly instalments.

Repayment is due from the 6th month after the date the first loan instalment is paid.

for security

Wage assignment, as first priority, to be registered at the Monaco Court.

Loan agreement signed jointly by both spouses.

What supporting documents need to be supplied?
  • The loan application completed and signed by both spouses,
  • A detailed and signed quote,
  • A basic plan of the home,
  • The owner's permission, for tenants,
  • A copy of the deeds for owners,
  • Once the work is completed, paid invoices.