Hong Leong Bank Launches Home Solar Power System Financing Facility

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Kuala Lumpur, Malaysia, December 16, 2021 / PRNewswire / – Hong Leong Bank and Hong Leong Islamic Bank (“HLB” or the “Bank”) introduced Loan / Financing HLB Solar Plus-i, a new green energy finance facility that allows homeowners to seamlessly apply for solar power systems finance with their mortgage / home finance application.


HLB Partners with ERS Energy and Solaroo Systems for New Green Energy Financing Facility

Open to new and existing alike HLB-i real estate loan / financing customers whose homes are under construction or completed, the Loan / Financing HLB Solar Plus-i, offers a financing margin of up to 105% on the value of the property, with flexible financing options from 15,000 RM up to 60,000 RM for a term of three to ten years, or until the principal borrower is 70 years old when the loan matures, whichever comes first.

Initially, the Bank joined forces with specialists in solar energy systems ERS energy and Solaroo Systems providing its customers with comprehensive one-stop installation, commissioning, operation and maintenance services.

Domenic Fuda, Group Managing Director and CEO of HLB shared, the Loan / Financing HLB Solar Plus-i is another Bank initiative to support Malaysia objective of increasing the installed capacity for renewable energies to 31% by 2025 and 40% by 2035.

“We believe that financial institutions are essential in helping to guide the transition to sustainable energy sources. Renewable energy has significant growth potential to support the country’s low-carbon economy program, as well as long-term benefits for households with energy cost savings, cushioned against future increases in costs. energy and reducing the carbon footprint, ”Fuda said.

Charles Sik, Managing Director of Personal Financial Services at HLB said: “Although the market for solar energy for residential homes in Malaysia is still nascent, we are receiving a lot of interest, especially from new home buyers who value the renewable energy lifestyle for their new homes. This new financing facility aims to meet this demand by facilitating the financing process where customers with homes under construction or completed can apply for solar panel financing with their mortgage application, unlike conventional methods of offering only funding for solar panels for completed houses. It also allows homeowners to spread the cost of purchasing and installing the solar panel over several years and benefit from a reduction in their monthly electricity bills by 50-80% depending on installed capacity. ”

For more information, please visit https://www.hlb.com.my/en/personal-banking/loans/property-loan/solar-plus.html Where https://www.hlisb.com.my/en/personal-i/consumer-financing-i/solar-plus-financing-i.html

Related links:

https://www.hlb.com.my

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