OCBC Bank Bhd, Malaysia offers special financing rates and quicker approvals through its Green Home Financing program to encourage the ownership of green homes.
Special rates are available for residential properties that have been certified as green buildings or solar panels will be installed. They offer a lower rate than standard home loans and faster approvals within 48 hours.
Green buildings can be either completed or in the process of construction.
Anne Leh Geok Meng, OCBC Bank’s managing director, and head for consumer financial services said that Green Home Financing was part of OCBC Bank’s overall plan to increase awareness about sustainability among customers while giving them the opportunity to practice ESG-related practices.
“We want to highlight the importance of sustainable practices and encourage consumers to continue the journey. People are happier when they do the right thing. We want to encourage and reward this behavior.”
“We hope that potential homeowners will fully benefit from this scheme.”
According to the 2021/2022 Annual Report of the Real Estate and Housing Developers Association Malaysia, there were 188 projects that were certified under GreenRE.
She stated, “So, there’s enough supply to get things moving as other people join the board as well.”
Leh concluded that the bank was continuing to encourage the solar panel financing plan rolled out in 2021, in line with its strategic plan to work on its sustainability-themed offerings.