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SA’s leading bank launches alternative energy solutions for a sustainable future

FNB continues to support business and individual customers with their financing needs for installations aimed at mitigating the impact of loadshedding.

The leading bank is also introducing a new nav>> Energy feature on the FNB App to help customers with information and a selection of alternative solutions. Amongst others the energy value propositions include:

Affordable energy solutions for as little as R149 per month:

Customers can now access a wide range of alternative energy and back-up power solutions on the FNB App and pay for it over 24 months. The service is enabled through FNB Connect and customers will soon receive pre-approved offers for these options too. There is no paperwork, as the entire process is fully digitised and accessible through the bank’s platform that customers trust. This is an excellent opportunity for customers who may not have the funds available to buy a solution outright for their energy needs.

Solar energy loan:

Customers can now apply for a solar energy loan financed through a new or existing home loan. This enables customers to apply for a loan starting at R50,000 and going up to 15% of their home's value to finance the installation of a solar energy system from a pre-screened list of reputable renewable energy providers. The customer’s property valuation will be increased to cater for the future installation of the solar energy system. The amount of the solar energy loan will be added to the customer's bond and recorded as a single loan at interest rates that align with their credit profile. FNB will pay the deposit directly to the supplier up front, so the customer will not be out of pocket unless there is a difference between the approved loan amount and the cost of the renewable energy solution selected by the customer, in which case the customer pays the difference or selects a more affordable solution. The new solar energy loan solution complements existing ones, such as the ecoEnergy home loan solution, which was introduced in 2021 and has paid out R970 million to date.

"As a responsible financial institution, we are committed to making a positive impact in society, and we recognise the challenging impacts of the current economic environment on our customers. Our aim is to provide customers with ongoing support to help them realize their individual, family, and business aspirations. We intend to do this through our extensive range of needs-based solutions," Celliers concludes.

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