PostBank to give loans for solar power systems
PostBank has launched a project where clients will get loans to buy solar power systems.
By Daniel Edyegu
PostBank has launched a project where clients will get loans to buy solar power systems.
The project aims at boosting the Government’s rural electrification programme, Joel Kitutu, the Mbale branch manager, said, adding that the scheme targets low-income earners in rural communities.
He said under the scheme, clients would access subsidised loans to purchase the solar power systems and repay in three years.
“One needs to open an account with us, own a house and any source of income from which to repay the loan,†he said.
“The loan repayment schedule is arranged depending on the client’s source of income.
“If one is a farmer, the bank can allow him to repay the loan twice a year after each harvest.â€
He added that the Government had subsidised the loans by 30%, saying clients would only pay 70%.
PostBank has launched a project where clients will get loans to buy solar power systems.
The project aims at boosting the Government’s rural electrification programme, Joel Kitutu, the Mbale branch manager, said, adding that the scheme targets low-income earners in rural communities.
He said under the scheme, clients would access subsidised loans to purchase the solar power systems and repay in three years.
“One needs to open an account with us, own a house and any source of income from which to repay the loan,†he said.
“The loan repayment schedule is arranged depending on the client’s source of income.
“If one is a farmer, the bank can allow him to repay the loan twice a year after each harvest.â€
He added that the Government had subsidised the loans by 30%, saying clients would only pay 70%.