News Details

APS green loans extended to electric vehicles for private use

18/05/2022 10:00:00

After its launch last year, the APS Green Finance Loan is now being extended to cover the financing of electric vehicles for personal and private use. The financing of plug-in hybrid vehicles remains exclusive to commercial use, e.g. trucks, vans and fleet cars. The terms of the prevailing interest rate subsidy have also been significantly enhanced, allowing easier and more affordable access to financing under this product.

This loan facility follows the agreement signed in December 2020 with the European Investment Fund (EIF), marking its participation in the Energy Efficiency and Renewable Energy investment scheme. Under this scheme, both retail and commercial customers benefit from features such as longer loan repayment terms, subsidised interest rates, discounted fees, reduced collateral requirements and advisory services provided by European Investment Bank members, to invest in technology or devices to manage and reduce their carbon footprint.

Zoltan Horvath, Head of Propositions at APS Bank, commented: “We are delighted to be offering such an improved green loan product to the market, which has recently been revised to make it even more accessible and beneficial to customers wishing to make more sustainable choices.”

To learn more about ‘APS Green Finance’ please visit apsbank.com.mt/green-finance

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APS Bank plc is regulated by the Malta Financial Services Authority as a Credit Institution under the Banking Act 1994 and to carry out Investment Services activities under the Investment Services Act 1994. The Bank is also registered as a Tied Insurance Intermediary under the Insurance Distribution Act 2018.