DBS to offer green renovation loan for eco-friendly homes
SINGAPORE - Property owners looking to have a more eco-friendly home may be able to take up a green renovation loan from DBS. The bank said the rate of 2.68 per cent a year is the industry's lowest for such a loan, adding that the average market rate is about 3.88 per cent. The loan is part of the DBS Green Solutions package announced on Sunday (April 25) that offers consumers options to integrate green practices in their daily lives, including transport, payments and purchases. Customers seeking a green renovation loan can switch to green electricity retailers such as Geneco or Sunseap, or install green energy sources. They should also fulfil the requirements of the bank's green renovation checklist, developed in collaboration with the Singapore Green Building Council. The checklist can be found on the DBS website. Customers will also get rebates if they install green energy infrastructure such as solar panels and electric vehicle chargers with DBS partners iSwitch and Keppel Electric. OCBC Bank offers a similar eco-care renovation loan launched last month (March) with a rate of 3.98 per cent per annum, according to the OCBC website. More details can be found there. Mr Jeremy Soo,...
