NBS Bank plc has introduced a new finance loan that will allow its customers to buy inverters, batterries, solar panels and gensets from suppliers that have partnered the bank in the initiative.
NBS Bank head of Marketing Lorraine Phiri said the loan facility will make alternative energy solutions accessible and affordable to a lot of Malawians.
“When we looked at our environment, we saw that the electricity challenge is affecting businesses and homes. Alternative solutions available on the market are expensive for average Malawians to afford. We came up with this solution to enable more Malawians to access them,” said Phiri.
One of the suppliers, Upile Chawanda from Solar Solutions, promised to give customers energy solutions that are certified at affordable prices.
To access the loan which will be payable in 12 months, a customer has to produce a valid identity document, at least three consecutive pay slips starting from month before application and a letter of undertaking from an employer.