The new DBS Green Solutions package features a suite of sustainable living solutions for consumers. The package comes with offerings and privileges so you can easily integrate green practices in your daily lives.
A green renovation loan offers Singapore’s lowest interest rate for a renovation loan at 2.68% p.a.. Enjoy cash incentives when you switch to renewable electricity providers and install green energy sources. Receive rewards for eco-friendly and sustainable purchases. If you require a car loan, you will enjoy a preferential car loan rate at 1.68% for new or used green cars.
| Offering | Traditional rates/ offers | DBS Green Solutions | Savings for going green |
| Renovation loan & installation of green energy sources | The average market renovation loan rate is currently around 3.88% p.a. | Switch to green electricity retailerssuch as iSwitch, Geneco, Sunseap, and PacificLight and/or install green energy sources for a preferential renovation loan rate of 2.68% p.a. Up to S$100 rebate for installation of green energy sources such as EV chargers, solar panels and more | Based on a loan of S$30,000, consumer can expect to save some S$960 over five years with an interest rate of 2.68% p.a. |
| Utilities (Electricity) | For non-renewable electricity retailers, average electricity cost is around SGD 100 per month for 4-5 room HDB households | Up to S$30 rebates for switching to green electricity retailers on the DBS Utilities Marketplace | With green electricity providers, consumers can save up to up to S$56 per month or some $670 annually (for bills around S$100 to S$200 per month). |
| Cards | N/A | DBS Live Fresh Card – Singapore’s first eco-friendly credit card made from 85.5% recycled plastic | DBS Live Fresh Additional 5% cashback on selected eco-friendly and sustainable businesses including eateries, retailers, and transport services All DBS/POSB cards • First-month subscription fees waived, plus 30-minute of free rental usage with BlueSG, Singapore’s first electric vehicle car sharing platform. • Reduce food wastage by buying green labelled products on RedMart for up to S$15 off orders |
| Cars | The average market car loan rate is currently around 1.99% p.a. | Preferential car loan rate at 1.68% p.a. for new/used electric and hybrid vehicles. | Based on a loan of S$80,000, consumers can expect to save some S$250 over five years with an interest rate of 1.68% p.a. In addition, DBS will donate a tree planting towards NPArks “OneMillionTrees” movement for each customer who takes up the loan. DBS is also Tesla’s preferred financing partner in Singapore. |
DBS has been championing the sustainability agenda over the years. It has set targets for its operational carbon footprint to ensure net zero operational carbon by 2022. In 2017 the bank because the first Asian bank and first Singapore company to join global renewable energy initiative RE 100 by committing to using 100% renewable energy for its Singapore operations by 2030. It recently supported the World Business Council for Sustainable Development’s Vision 2050 agenda that lays out nine transformation pathways that aims to help improve lives, livelihoods, and protect the planet in three decades.
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