BPI, Helios roll out solar mortgage program in the Philippines

It has a 7% interest rate and has already onboarded 100 new homeowners.

Philippine-based fintech Helios has partnered with the Bank of the Philippines Islands (BPI) to offer a solar mortgage program.

Touted as Asia’s first, the loan integrates solar energy solutions into residential properties acquired through mortgages.

The mortgage ranges from as low as just over $7,144 (PHP400,000) to more than $178,500 (PHP10m) options. It offers a 7% interest rate, with a 7-year fixing period with up to PHP 70,000 waiving fees.

“Solar mortgage is the first of its kind. It is a bonafide Filipino innovation. The idea is the green loan with BPI is cash flow positive, meaning the savings you unlock from adding solar to your home will be larger than any payment capacity,” says Alex Aronson, co-founder of Helios.

ALSO READ: Mizuho, BPI renew business cooperation agreement

About 100 new homeowners are said to have already benefited from the solar mortgage's introductory offering, which rolled out in Q4 2023.

BPI, for their part, said that they are aiming to be a thought leader and market innovator in financing products and services like Helios.

(US$1 = 55.99)

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Bank of the Philippine Islands

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