Enjoy the OCBC Solar Panel Loan by first signing up with our exclusive partner for residential solar solutions, Sembcorp Power.
Power your home with energy harnessed from the sun and enjoy its many benefits. Sembcorp Power will work with their solar installation partners to provide a complimentary onsite assessment and proposal for your residence.
Offset your bill and sell any unused power back to the national grid.
Offset your bill and sell any unused power back to the national grid.
OCBC Solar Panel Loan offers a loan tenure from 1 to 5 years.
OCBC Solar Panel Loan offers a loan tenure from 1 to 5 years.
Get your loan approved with a secure and fully digital process. From application to disbursement.
Get your loan approved with a secure and fully digital process. From application to disbursement.
Take Ryan for example:
Owns a private landed residential property and recently switched to solar energy
Installed 3 solar panels (Size M)
Net gain in value over 25 years
Figures are for illustration purposes only, and are based on the following assumptions:
Find out how much interest you need to pay
Step 1
Get a quotation for your solar panel from a Sembcorp Power Appointed Partner.
Step 2
With your quotation, you are now ready to apply for your loan.
If you apply without MyInfo, please prepare the following:
Step 3
Relax and we will contact you if your loan is ready to be disbursed.
Minimum age
21 years old
Nationality
Singaporeans and Singapore PRs
Minimum income
S$24,000 a year
Processing fee
S$0
Admin fee
1.5% on loan amount
Cancellation fee
2% on loan amount
Prepayment fee
2% on amount prepaid
Full redemption fee
2% on outstanding loan balance
Late fee
S$80
Online loan approval and usage are only applicable for applications via MyInfo. Please note delays or non-approvals of applications may occur for various reasons.
4Q20 tariff × Assumed average solar generation capacity per month × 12 months × Warranty period
21.43 cents per kWh × 1200 kWh × 12 months × 25 years = S$77,148
Estimated solar panel cost based on estimated capacity from point (2)
S$20,000 loan and assuming flat interest rate of 3% per annum = S$3000 interest (S$600 per annum and 5 year loan tenure)
S$20,000 + S$3000 = S$23,000 (excludes admin fee of 1.5%)
Includes your fixed and variable monthly income.
For a single loan, your monthly income must be S$2,000 or more.
Borrow a minimum amount of S$10,000.
Your estimated monthly instalment is computed based on this amount that you wish to borrow.
This is the difference between the loan amount that you wish to borrow and that you qualify for.
You may need to use cash or other funds to meet the renovation budget you’re interested in.
Based on the amount you wish to borrow, this is the estimated maximum loan amount that you qualify for.
Each single applicant may borrow up to 6 times your monthly income or S$30,000, whichever is lower.
For more information, please visit https://www.ema.gov.sg/Guide_to_Solar_PV.aspx
Cut down on carbon emissions by over 5.8 tons CO2e/year* — that's equivalent to planting 234 trees in 1 year.
*Based on a 1200kWh/month Solar PV system.
Cut down on carbon emissions by over 5.8 tons CO2e/year* — that's equivalent to planting 234 trees in 1 year
*Based on a 1200kWh/month Solar PV system.
Reduce your total energy cost with energy from the sun and offset your electricity bills with Sembcorp Power. Plus, sell any unused power back to the national grid.
Reduce your total energy cost with energy from the sun and offset your electricity bills with Sembcorp Power. Plus, sell any unused power back to the national grid.
Trade in Renewable Energy Certificate (RECs) generated from your solar panels with Sembcorp Power to earn credits.
Trade in Renewable Energy Certificate (RECs) generated from your solar panels with Sembcorp Power to earn credits.
