Are You Planning to Apply for Pag-IBIG Fund Loan for Solar Panel Installation?
Pag-IBIG Fund, under its Home Improvement Loan, offers financial assistance for the purpose of solar panel installation at a member’s home.
In several households, one of the utility bills that takes a huge cut from the monthly earnings of the family is the electric bill. Many people pay at least Php 4,000 every month for their electric bill. However, the power rates are expected to go up even more in the next three (3) years as it is demand-based.
Many people already found a solution to pull their electric consumption down – through the installation of solar panels. However, truth be told that the installation of solar panels may be pricey and everyone is not ready to fund it in cash. The good thing for Pag-IBIG Fund members is that they have something to turn to – the Pag-IBIG Home Improvement Loan offer which covers green projects like the installation of solar panels.
In fact, there a premium if will be pushing through green projects like the installation of solar panels at your home. Based on a report on ABS-CBN News, there will be a 3% additional on the appraised value of your property if you are applying for a loan and has a plan to install solar panels.
According to Pag-IBIG Fund spokesperson Attorney Kalin Franco-Garcia, if your property’s appraised value is P1 million, you may get P1,030,000.00 with the premium for solar panel installation.
Aside from the solar panel installation, the other green features or projects that are covered by the premium includes the natural ventilation (up to 2% premium) and hydro energy (up to 3% premium). Based on the report, a member may avail a maximum of 20% premium if all green features will be incorporated.
Do you want to check how to apply for the Pag-IBIG Home Improvement Loan offer? You may visit – Pag-IBIG Loan for Home Improvement: Here’s How To Apply & the Requirements.
