Discovery Bank has become the latest financial services institution in South Africa to help its clients minimise the impact of state failure through the provision of solar solutions.
The bank, owned by Discovery Holdings – the parent of the Discovery Health medical scheme – said on Wednesday that it has partnered with Rubicon to help its clients minimise their exposure to load shedding.
Standard Bank, First National Bank and other financial services institutions already offer solar financing solutions to their clients.
Discovery Bank CEO Hylton Kallner said in a statement: “While South Africans are resilient, the increased and ongoing interruption of electricity impacts all aspects of our lives and drives a need to find alternative ways to power our homes.”
Rubicon said an online calculator allows prospective clients to get an instant quote tailored to their energy needs. Dedicated Rubicon energy advisors guide clients through the selection process, providing tailored recommendations for each home.
Discovery Bank has developed flexible funding to allow clients the option of a dedicated solar budget facility at interest rates starting at prime minus two over 72 months.
Read: World’s biggest solar panel maker is fuelling a price war
The offering has been launched initially to select clients and will be available more broadly over the coming weeks, the bank said. The model will see clients own the installed solar assets (as opposed to renting them), allowing for a wider variety of products to choose from and no additional or hidden costs, Discovery said. — (c) 2023 NewsCentral Media
