Mon, Jan 11, 2021 – 1:06 PM
OCBC has launched a consumer loan for landed property homeowners looking to install solar panels on their homes.
The loan facility, which is Singapore’s first, provides these owners with a term-financing option for installing solar panels, defraying upfront costs to enable and accelerate clean energy adoption, the bank said in a press statement on Monday.
Each homeowner can borrow up to S$30,000 with a tenure of between one and five years to allow for greater flexibility on the repayment period, it added.
Moreover, the bank has exclusively partnered Sembcorp Industries’ electricity retail arm Sembcorp Power to provide homeowners with onsite solar panel installation assessment. Initial consultation costs will be borne by Sembcorp Power, OCBC said.
OCBC’s head of consumer financial services Singapore Sunny Quek said offering this retail loan for solar panels is one of the key ways to introduce and improve the
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