Hong Leong Bank offers financing facility for solar power in homes
KUALA LUMPUR -- Hong Leong Bank and Hong Leong Islamic Bank (HLB) have introduced HLB Solar Plus Loan/Financing-i, a new green energy financing facility for home owners to seamlessly apply for financing of solar power energy systems together with their home loan/financing application.
Open to both new and existing HLB Home Loan/Financing-i customers with residential homes either under-construction or completed, the HLB Solar Plus Loan/Financing-i, offers a margin of financing up to 105% on the property value, with flexible financing options starting from RM15,000 up to RM60,000 for a three-to-10-year tenure, or up to the age of 70 of the main borrower upon maturity of the loan, whichever is earlier.
The bank has partnered with solar powered energy system specialists ERS Energy and Solaroo Systems to provide a comprehensive one-stop installation, commissioning, operations and maintenance services to its customers.
Domenic Fuda, Group Managing Director and CEO of HLB, said the programme was another initiative from the bank to support Malaysia's target of increasing the installed capacity for renewable energy to 31% by 2025 and to 40% by 2035.