HSBC Bermuda is backing green energy with a new loans scheme.

The bank said that its new Green Loan scheme was a simple and affordable way for customers to invest in solar energy and energy-saving products.

The deal offers 100 per cent financing, HSBC’s lowest unsecured loan variable interest rate of 6 per cent and a long repayment term of up to 7 years.

A spokeswoman for HSBC Bermuda said: “By offering a lower interest rate and longer term for the Green Loans, it is possible for some customers, depending on their individual circumstances, to match the monthly loan repayments to the savings in energy costs.”

Standard conditions — like having a full-time job and able to afford repayments — will apply and, in most cases, collateral will not be required for applications below $50,000.

For more information, visit www.hsbc.bm/greenloans.