Seylan Bank and Hayleys Solar to empower customers with solar solutions

Seylan Bank has announced a partnership with Hayleys Solar. This collaboration aims to transform access to sustainable energy solutions by offering customers an exclusive 10 percent discount on Hayleys Solar power systems when financed through Seylan Bank’s Solar Loan.

With the ever-increasing costs of electricity posing a challenge to households and businesses alike, this partnership highlights a commitment to providing accessible and affordable renewable energy solutions. 
This solar loan facility is tailored for permanent employees with a starting net salary of Rs. 200,000 and above. These interest rates are substantially lower than conventional personal loans. The Solar Loan features: a flexible repayment period from 1 to 7 years, a starting interest rate of 11.5 percent for tenures of 1 to 3 years, and 12 percent for tenures starting from 4 to 5 years.

The solar power system itself serves as security against the loan, eliminating the need for additional collateral. Additionally, customers can expect quick loan approval within 2 days, ensuring a seamless process from application to installation. Moreover, customers utilising the Solar Loan Facility are eligible for income tax relief, further enhancing the financial benefits of transitioning to solar power.

Commenting on the collaboration, Eugene Seneviratne, Deputy General Manager- Retail Banking at Seylan Bank said, “Through our collaboration with Hayleys Solar, we have made sustainable home energy generation more accessible. While the benefits of solar power are clear for both the environment and savings on electricity bills, the high setup costs have been a barrier for many homeowners. This Solar Loan facility will empower eco-conscious homeowners to embrace solar power and embark on a journey of financial independence.

Roshane Perera, the Executive Director and CEO of Hayleys Solar, expressed, “We are optimistic about this partnership with Seylan Bank to promote renewable energy adoption in Sri Lanka. At Hayleys Solar, we are committed to providing innovative and sustainable energy solutions to meet the diverse needs of our customers. 
This partnership not only enhances accessibility to our high-quality solar power systems but also reinforces our shared vision of a greener and more sustainable future for Sri Lanka.”