Singapore banks see healthy take-up of green home and renovation loans

BANKS here have seen a strong take-up in green home and renovation loans, as they roll out such products to tap this growth segment.

DBS D05 launched the Green Renovation Loan in April. The reception for these loans since then have been "exceptionally strong", Nelson Neo, head of home financing at DBS consumer banking group, told The Business Times.

He noted that loans under the offering comprise some 80 per cent of DBS' new renovation loan bookings from May onwards. Around two thirds of its customers taking up green renovation loans are HDB dwellers.