DBS unveils “DBS Green Solutions” package providing eco-friendly offerings across home, transportation, payments and purchases

DBS Green Solutions package

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 retailers such 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 SGD 100 rebate for installation of green energy sources such as EV chargers, solar panels and more Based on a loan of SGD 30,000, consumer can expect to save some SGD 960 over five years with an interest rate of 2.68% p.a.

Based on a loan of SGD 30,000, consumer can expect to save some SGD 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 SGD 30 rebates for switching to green electricity retailers on the DBS Utilities Marketplace

With green electricity providers, consumers can save up to up to SGD 56 per month or some SGD 670 annually^[1]

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 SGD 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 green cars

Based on a loan of SGD 80,000, consumers can expect to save some SGD 250 over five years with an interest rate of 1.68% p.a.

1) Green renovation loanCustomers who switch to green electricity retailers and/or install green energy sources will have a preferential renovation loan rate of 2.68% – the industry’s lowest for a renovation loan. To qualify for the green renovation loan, customers simply need to fulfil the requirements of the bank’s green renovation checklist, developed in collaboration with the Singapore Green Building Council (SGBC). In addition, customers will receive rebates of up to SGD 100, should they decide to install green energy infrastructure such as solar panels, electric vehicle chargers, and more with our partners iSwitch and Keppel Electric. Find out more here.

2) Green utilities (Electricity)Customers who switch to green electricity retailers such as iSwitch, Geneco, Sunseap, and PacificLight now using DBS Utilities Marketplace, qualify for up to SGD 30 in rebates. They will also be able to enjoy the preferential renovation loan rate of 2.68%. Find out more here.

3) Card rewards for going greenEarlier this month, DBS announced the launch of Singapore’s first eco-friendly credit card – DBS Live Fresh – made from 85.5% recycled plastic. Starting 1 May, the card will reward cardholders with an additional 5% cashback when they patronise selected eco-friendly and sustainable businesses across everyday categories such as dining, grocery shopping, and transport, as well as social enterprises supported by DBS Foundation. All DBS/POSB cardholders get their first-month subscription fees waived, plus 30 minutes of free rental usage with BlueSG, Singapore’s first electric vehicle car sharing platform. Cardholders are also rewarded for reducing food wastage by buying green labelled products on RedMart, with up to SGD 15 off orders. Find out more here.

4) Green car loanThe DBS Green Car Loan provides a 1.68% p.a.^[2] car loan to all customers purchasing new and used electric and hybrid vehicles. The rate is one of the lowest in the industry. In addition, DBS will donate a tree planting towards NParks’ “OneMillionTrees” movement for each customer who takes up the loan. The bank is also Tesla’s preferred financing partner in Singapore. Find out more here

For more information on the “DBS Green Solutions” package, please visit https://www.dbs.com.sg/personal/live-green-effortlessly.^[1] For bills around SGD 100-200 per month^[2] This is a fixed flat rateAPPENDIX – Partner quotesKeppel ElectriciSwitch[END]About DBSWorld’s Best BankGlobal Bank of the YearBest Bank in the WorldWorld’s Best Digital BankSafest Bank in Asiawww.dbs.com