OCBC Bank (Malaysia) Bhd has rolled out its residential solar panel financing plan for individuals as part of its thrust to make sustainable practices even more accessible to consumers in the country.
With this, residential homeowners may apply for either its solar panel financing plan or Easy Payment Plan (EPP), which pave the way for quicker access to the benefits that accrue from the move.
Solar panels can save up to 85% or even more in electricity bills after a one-time installation. The Bank is offering those eligible the option to finance the entire amount required for the solar panels.
According to OCBC Bank Managing Director & Head of Consumer Financial Services, Ms Anne Leh Geok Meng, the Bank’s introduction of solar panel financing is part of its drive toward a holistic approach to environmental, social and governance (ESG) practices, which includes making environmentally friendly installations more accessible to consumers.
“Green financing for the masses has been on our radar for a while now, with a view to advocating sustainable practices at all levels and for everyone. By providing products aligned to this posture we hope to create long-term value. We are excited about the prospects ahead,” she says.
OCBC Bank customers can opt for refinancing with an increase in line of completed residential property from another bank with the OCBC Solar Panel financing or an increase in line/top-up of an existing OCBC Home Loan/Home Financing-i with the OCBC Solar Panel financing. This applies to completed residential properties only.