Switching to solar energy can be a smart decision for both your wallet and the environment. It can reduce your electricity bills, increase the value of your home, and reduce your carbon footprint. However, the upfront cost of solar installation can be a significant barrier for many homeowners. In the Philippines, rooftop solar loans are not yet as common as car loans. But the good news is, rooftop solar financing option now offered by a local bank in Bicol region!
For those residing in the Bicol region, the Bank of San Jose offers a “Renewable Energy Loan” for homeowners planning to have their own rooftop solar. Conditions of their financing is that prospective solar buyers must choose from the bank’s list of accredited solar contractors. The bank offers a loan starting from Php 100,000 and up to a maximum of Php 1,000,000. Depending on the amount of your loan, you may opt to pay for your loan between 1 to 9 years. As for the collateral, the bank accepts either real estate mortgage or chattel mortgage.
To apply, check out their application form here. For more details, visit their product page at https://bankofsanjose.ph/pages/loans/energy_loan.php.
You can also tap PAGIBIG as they are also offering loans of up to P500,000 for the installation of solar panels at home. To learn more, read our related article “Financing Your Home Solar through Pag-IBIG.“
Disclaimer: YUDA is not affiliated with Bank of San Jose. The information provided in this article is for educational and informational purposes only and should not be construed as an endorsement of the company or its products.