FNB Namibia introduces Renewable Energy Loan

FNB Namibia is proud to introduce the Renewable Energy Loan to customers through which they will be able to purchase Renewable Energy Products – such as a solar geyser. Jerome Namaseb, Manager Product, Pricing and Profitability at FNB Namibia, explains: “FNB Namibia has always allowed customers to buy Renewable Energy products and equipment through the different loan options available to customers (such as a Wesbank Loan, Home Loan and personal loans). We have realised, however, that not all customers are aware of these options and thus a decision was taken to formally introduce this offer to customers, in the form of a Renewable Energy Loan (Personal Loan).”Utilities such as water and electricity are essential services that play a vital role in economic and social development. Quality utilities are a prerequisite for effective poverty eradication. “While NamPower has just signed a five-year power supply agreement with Eskom again, our electricity supply can be assisted by ordinary Namibians through the purchase of solar energy such as geysers,” says Namaseb. “We are making great strides in the field of electricity with for example numerous solar plants that have been opened lately – in Omaruru, Arandis and the like. Should you not have that capacity yet, a solar geyser has been proven to save a lot of money over the long term.”The Renewable Energy Loan by FNB Namibia will be in the form of a personal loan over a maximum term of five years (minimum 12 months) depending on affordability. “You would however agree that not all customers can afford to repay large renewable installations over five years or a shorter period, and we will therefore still allow customers to finance the equipment and installations via their Home Loans in the form of a Flexi Bond, readvance or Future Use Home Loan offer if preferred, as this would reduce pressure on their daily cash flow.”Namaseb added that customers needed to be aware of the qualifying criteria for the renewable energy loan which included the facts that the applicant must be over the age of 18 years old, must have a BankWise or Lifestyle account with FNB Namibia, and must be a resident of the Republic of Namibia. The customer's salary should be deposited by the employer directly into the account and he/she should qualify in terms of internal scorecard rules. The customer may not be insolvent, under administration or have a garnishee order against his or her salary.The customer needs to apply for a loan at the nearest FNB branch and will be responsible for repaying the loan monthly in terms of the loan agreement and the customer will also supervise all installations on his property and undertake to ensure that all work is completed in terms of his agreement with the installer. “We advise customers to ensure that the installers are registered with the Renewable Energy and Energy Efficiency Institute and provide the client with a detailed quotation and a maintenance plan. FNB can assist with a list of qualified and registered installers.”

FNB Namibia introduces Renewable Energy Loan

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Republikein 2025-09-17

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FNB Namibia introduces Renewable Energy Loan

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