Combank offers concessionary Green Energy Loans in June

Commercial Bank of Ceylon has announced concessionary rates on Green Energy Loans during the month of June, as part of the bank’s commitment to the celebration of the World Environment Day, which fell on June 5.

The bank said households seeking funds for switching to solar power to reduce consumption of electricity from the national grid, would be eligible for this special rate starting from 14 percent, if their loans are obtained before June 30, 2017.

Employed applicants up to the age of 60 should have been in permanent employment for a minimum of one year and have a monthly salary of Rs.50,000 or more to apply for a loan, the bank said.

Self-employed professionals should be registered members of a professional association, have a minimum monthly disposable income of Rs.50,000 or more and be between 18 and 65 years, to be eligible for these Green Energy Loans.

The bank will provide up to 75 percent of the total cost of the solar investment at the special rates announced for June 2017.

Commercial Bank’s standard Green Development Loans offer up to Rs.25 million repayable in seven years to small and medium enterprises (SMES) and entrepreneurs that wish to invest in energy saving, energy efficiency or off-grid renewable energy projects, including investments in solar power.

These loans are also be available to organisations that need to comply with national environmental standards by improving their waste management systems or by installing waste water treatment plants, air pollution control systems, solid waste recycling/ treatment plants or sound pollution control systems.