Seylan Bank and Hayleys Solar Join Forces to Empower Customers with Solar Solutions

10% discount to be availed when Hayleys Solar power systems are financed via Seylan Solar Loans

Seylan Bank has announced a partnership with Hayleys Solar, the country's leading Solar Engineering, Procurement, and Construction (EPC) company. This collaboration aims to revolutionise access to sustainable energy solutions by offering customers an exclusive 10% 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. Through the synergies between Seylan Bank's financial expertise and Hayleys Solar's industry-leading expertise in renewable energy, customers can now embark on their journey towards energy independence with greater ease and affordability.

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% for tenures of 1 to 3 years
•         and 12% 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.”

Hayleys Solar has been a driving force in the nation's renewable energy journey, having supplied over 200 MWp of rooftop solar power. Specialising in renewable energy solutions and energy storage systems, Hayleys Solar caters to diverse residential, commercial, and industrial needs. Their comprehensive services encompass end-to-end solar power services, including installation, after-sales services, and maintenance. For more information on the Solar Loan Facility please visit www.seylan.lk or dial 011 200 88 88.

Hayleys Solar and Seylan Bank Solar Partnership

About Seylan Bank

Seylan Bank, renowned as the Bank with a Heart, is dedicated to offering unparalleled banking experiences through cutting-edge technology, innovative products, and exceptional services. Serving a diverse clientele of SMEs, Retail, and Corporate Customers, Seylan Bank boasts over 540 access points nationwide. Endorsed as a financially stable organisation with performance excellence by Fitch Ratings, Seylan Bank maintains a national long-term rating of ‘A-’(lka), reflecting its unwavering commitment to Service Excellence.

About Hayleys Solar

Hayleys Solar, the renewable energy arm of Fentons Limited predominantly focuses on Solar PV installations for the domestic, commercial, and industrial market segments as well as utility-scale projects to enable greater utilisation of sustainable energy resources in the country.  Hayleys Solar has completed over 200MWp of solar installations island-wide making it the undisputed leader in Engineering, Procurement, and Construction (EPC） company in Sri Lanka.