Absa now allows clients to select and finance a fully-customised renewable energy system for their home.
Power back-up, photovoltaic (PV) power generating systems, and solar thermal geysers from Eco Navitas are on offer – all of which will be customised to fit around clients’ lifestyle and financial circumstances.
The installation of such systems has become a necessity in light of continued energy constraints and the rising cost of electricity in South Africa, said Absa.
This offer will allow customers to take the first step towards being in control of their household’s daily electricity needs, it added.
“Although these systems may initially appear to be a costly investment, over the long-run households will save a significant sum of money in reduced electricity costs and also limit the inconvenience of power cuts.”
“Eco Navitas was selected as preferred supplier following stringent procurement processes,” said Pierre Loubser, managing executive for Absa consumer banking.
Absa will offer a 10% up-front discount on any (or a combination of) Eco Navitas solar geyser and heat pump, battery backup, and/or photovoltaic systems.
To finance the systems, Absa offers the following payment options:
- Credit card payment: Up to 48 months repayment terms on a credit card budget facility, with the first 12 months at a prime interest rate. Absa Rewards customers can also earn up to 1% cash back if they use their credit card to pay for the purchase.
- Access equity in your home loan: Customers can pay utilising the equity in their property or home loan either by applying for a re-advance to access funds they have already paid off, or by using their available FlexiReserve facility.
- Apply for a personal loan: Absa personal loans from R3,000 to R250,000, with repayment periods from 12 to 72 months are available. If another lender offers a like-for-like unsecured loan with a lower interest rate, you can claim under Absa’s price guarantee promotion within 30 days. Promotion expires on 31 July 2015.