Pag-IBIG: Buy Solar Panel Now, Pay Later
As much as Filipinos would want to purchase/install solar panels on their houses, the fact of the matter is that most of us just don’t have that kind of money required up front to put up one.
This is exactly the reason why Emma Imperial, the CEO of the Imperial Homes Corporation, requested to Darlene Marie Berberabe, the CEO and President of the Home Development Mutual Fund or more commonly known as Pag-IBIG Fund to allow its member to apply for a loan to finance the purchase/installation of solar panels.
In a statement, Berberabe said that Pag-IBIG Fund will be able to finance the purchase and installation of solar panels through the agency’s Home Improvement Loan which, at the present, requires the mortgage of the house.
Imperial adds that eligible HMDF members may be able to borrow up to Php130,000 from the agency to fund the purchase of 1-kilowatt solar panel unit. The payment for the loan may be amortized for up to 25 years, depending on the member’s discretion and ability to pay.