In a significant stride towards supporting the well-being of the nation’s pensioners who tirelessly served this country and promoting eco-friendly energy solutions, NDB Bank recently signed a Memorandum of Understanding (MOU) with Hayleys Solar, the renewable energy arm of Hayleys Fentons, on the 22nd of August to officially launch the “Solar Facilities under Aachara Pensioners’ Loan Scheme,” underscoring not only the bank’s commitment to providing financial solutions for senior citizens but also its efforts to advocate for sustainable living.
The signing marked the official partnership between the Bank and Hayleys Solar and was highlighted by the presence of key representatives from both NDB and Hayleys Solar, including the Director – Pensions.
Pensioners play a vital role in the social fabric of Sri Lanka, having dedicated years of service to the country. Recognising their contributions, NDB is offering this unique loan facility to ensure they can lead a comfortable and eco-conscious retirement. All pensioners under the Department of Pensions in Sri Lanka can now apply for these solar loans, benefiting from a range of advantages designed to make their transition to solar energy seamless and affordable.
NDB’s solar loan facilities offer pensioners up to Rs. 4.5 million, which is a credit facility 100% funded by the Bank, with a competitive interest rate. The loans come with a flexible repayment period of up to 15 years, subject to a maximum age limit of 75 years, ensuring manageable monthly payments. Additionally, there are no security requirements, making the application process straightforward and accessible. Importantly, the loan includes life insurance coverage, ensuring that in the unfortunate event of the borrower’s death, the loan will be fully settled by the insurer, providing peace of mind for the borrower and their family.
Hayleys Solar, a leader in renewable energy solutions, brings additional benefits to this partnership. Benefiters can also enjoy an attractive 12% discount on their solar units from Hayleys. Additionally, obtaining the necessary approvals from relevant authorities and offering comprehensive after-sales services for the solar panels have also been streamlined, ensuring long-term efficiency and support. This initiative falls under Hayleys Solar’s new endeavor, ‘Nayak Nowena Nayak’ programme.
The collaboration between NDB and Hayleys Solar aims to facilitate the adoption of renewable energy among pensioners while also aligning with global sustainability goals. By transitioning to solar power, pensioners can significantly reduce their electricity bills and carbon footprint. Additionally, there is also the opportunity to earn an additional income by selling the excess electricity generated back to the grid, contributing to a greener and more sustainable future for Sri Lanka.
NDB remains dedicated to supporting the financial needs of all Sri Lankans while promoting sustainable practices. This solar loan initiative is a testament to the bank’s commitment to enhancing the quality of life of its customers and fostering a more sustainable future.
Hayleys Solar predominantly focuses on Solar PV installations for the residential, commercial, and industrial market segments, as well as utility-scale projects, enabling greater utilisation of sustainable energy resources in the country. Hayleys Solar has completed over 250 MWp of solar installations island-wide, making it the undisputed leader in Engineering, Procurement, and Construction (EPC) in Sri Lanka.
NDB Bank is the fourth-largest listed commercial bank in Sri Lanka. NDB was named Sri Lanka’s Best Bank for Corporates at Euromoney Awards for Excellence 2024 and was awarded Domestic Retail Bank of the Year – Sri Lanka and Sri Lanka Domestic Project Finance Bank of the Year by Asian Banking and Finance Magazine (Singapore) Awards 2024. NDB is the parent company of the NDB Group, comprising capital market subsidiary companies, together forming a unique banking and capital market services group. The Bank is committed to empowering the nation and its people through meaningful financial and advisory services powered by digital banking solutions.
Caption:
Pictured (Lto R): K.G.R. Jayanath – Director (Pensions); Sameera Senarath – AVP – Sales (NDB); Sanjaya Perera – SVP – Personal Banking & Customer Experience (NDB); K.V. Vinoj – Deputy CEO (NDB); Hasith Prematillake – Managing Director (Hayleys Fentons); Roshane Perera – Director/CEO (Hayleys Solar); Pamudith Gunawardana – Director – Finance (Hayleys Fentons); Akhila Jayasena – Deputy General Manager/National Sales (Hayleys Solar)
