Seylan Bank Launches Solar Loan Facility an ideal and sustainable solution to offset rising electricity costs
Colombo: Seylan Bank has introduced a solution to address the challenge of rising electricity bills. In response to the pressing need for sustainable and cost-effective energy solutions, Seylan Bank’s Solar Loan Facility will help its customers achieve financial independence and make sustainable choices for their energy needs.
The Solar Loan Facility is designed with the rising electricity costs in mind, ensuring that people no longer need to compromise on the comforts of their home or allocate a significant portion of their earnings towards their monthly electricity bills. Instead, Seylan Bank offers the opportunity to pay a fixed installment over a period of time, ultimately leading to a lifetime of free electricity as power generation via the unit will be considered as income to offset the electricity bill.
Eligibility for this loan category is open to personnel earning a minimum salary of Rs. 200,000 from a reputed company. A competitive fixed interest rate starting from 13% is maintained throughout the loan tenure. Notably, the repayment period for this loan category ranges from 1 to 7 years, offering borrowers greater flexibility and the ability to tailor their loan terms to their specific needs.
Speaking on the launch of this facility, Eugene De Alwis Seneviratne, Deputy General Manager – Retail Banking at Seylan Bank said, “The future of sustainable home energy generation depends on solar power. Despite the many benefits to the environment and savings on electricity bills, we’ve noticed that the high setup cost of these units has deterred homeowners from making the switch. However, I am confident that with the introduction of our Solar Loan facility, we will be able to empower a new generation of eco-conscious homeowners to embark on a journey of financial independence, all while minimising their carbon footprint in the process. In addition, it is noteworthy that taxpayers who have a rooftop solar energy system will qualify for tax concessions as well,”
With Seylan Bank’s Solar Loan Facility, homeowners can embark on a journey towards energy independence, while enjoying substantial cost savings and contributing to a sustainable environment. The Bank also arranged partnerships with 40 solar energy system partner merchants, ensuring special offers for its valued customers. For more information on Solar Loan Facility please visit www.seylan.lk or contact our customer service representatives at 011 200 88 88.
About Seylan Bank
Seylan Bank, the Bank with a Heart, operates with a vision to offer the ultimate banking experience to its valued customers through cutting-edge technology, innovative products, and best-in-class services. The Bank has a growing clientele of SMEs, Retail and Corporate Customers, and has over 540 access points across the country. Seylan Bank has been endorsed as a financially stable organisation with performance excellence across the board by Fitch Ratings, with the bank’s national long-term rating revised to ‘A-’(lka). These are a testament to Seylan Bank’s financial stability and its unwavering dedication to ensuring the consistent delivery of Service Excellence across all aspects.
