Home solar renovation loan
Borrow for solar panels at your own home, with a branch-route eco interest discount and no collateral or personal guarantor.
Beskrivningen av den här finansieringen finns för närvarande på engelska.
The branch version of the Kagin renovation loan finances home solar installations and gives qualifying new eco works a 0.1 percentage point annual interest discount. Refinancing means using this loan to replace an existing renovation loan from another lender. Refinancing alone does not earn the eco discount; new qualifying works alongside refinancing can do so. The existing loan must have had no late repayments in the preceding six months.
You can borrow JPY 100,000–10 million in JPY 10,000 steps, for six months to 15 years in six-month steps. The bank lends you money that you repay with interest through monthly payments from your repayment account, on your chosen 6th, 16th or 26th of the month (the next business day if this is a holiday). Each payment covers interest and reduces the amount owed. You can arrange larger bonus-season payments for up to 50% of the original loan amount.
The product page lists branch variable rates of 2.90%–3.50% a year with Kagoshima Card as guarantor, or 3.20%–3.80% with JACCS; assessment determines the guarantor. The rate at actual borrowing applies. Thereafter it is reviewed against the bank’s long-term prime lending rate linked to its short-term prime rate as at 1 April and 1 October. Changes apply after the June and December scheduled repayment dates, or after the first bonus repayment date following the benchmark date if you use bonus repayments.
The eco discount can combine with eligible bank-relationship discounts, up to a total reduction of 0.6 percentage points. These include qualifying bank housing loans (0.2 points; some products excluded), salary or pension payments into the bank (0.2), Kagin JCB debit card membership (0.1), use of or application for a bank card loan (0.2), and a WEB passbook for the repayment account (0.1).
Guarantee fees are included in interest. There are no handling, early repayment or repayment-condition change fees.
Eligibility
- You must be at least 18 and under 66 when borrowing, and under 81 at final repayment. Foreign nationals must have permanent residence permission.
- You need stable, continuing income and approval from the guarantee company; the bank assesses the application.
- The work must concern your owned home. A home in your spouse’s name or the name of a family member within the second degree of kinship also qualifies. Examples within that limit include your parents, children, grandparents, grandchildren and siblings.
- Solar capacity must be below 50 kW, and the system must be installed within the home’s site.
- Deposits and interim payments for the work can be financed if paid within three months before application and supported by receipts. This also includes payments made after assessment but before the loan is issued.
How to apply
- Status
- Öppet löpande
- Villkor för ansökningsomgången
- Apply through a bank branch for the eco discount; borrower and guarantee-company assessment apply.
Contact a Kagoshima Bank branch to discuss and apply for the eco-discount route. Branch consultation and procedures are available through the current product offer.
Prepare proof of identity showing your current address, recent evidence of income, and an estimate, order or contract showing how the money will be used. The eco discount requires an estimate, invoice or other bank-specified proof. For solar equipment of 10 kW or more, provide a supplier’s 20-year generation simulation; provide receipts for paid costs. If you also refinance an existing loan, provide its repayment schedule and repayment-account records for the preceding year.