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PV Loans

PV Loans

Home  /  Personal Banking  /  Loans and Lines  /  PV Power Loan

Get the financing you need to add solar panels on your home.

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PV Power Loan

Purchase and install a residential photovoltaic (PV) system now and pay for it later. The PV Power Loan gives you a fixed rate, unsecured loan with no interest and no monthly payments during the first 18 months. After the first 18 months, we offer repayment terms of 60 or 72 months, which gives you the flexibility to choose a monthly payment plan that fits your budget.

  • No Down Payment
  • No Application Fee or Document Preparation Fee
  • No Pre-Payment Penalties
  • Flexible Repayment terms (60 months or 72 months)
  • Quick loan approval process
  • For single-family homes and condominiums (1-4 units) in Hawaii
  • Loan amounts from $10,000 to $50,000
  • No added mark ups by our approved contractors.

Note: Central Pacific Bank currently accepts applications for Consumer Credit from Hawaii residents only.

PV Power Loan Tables

Based on a loan amount of $20,000

 

First 18 Months

After the first 18 months,
repayment terms of:

PLAN A

No Monthly Payment,
0% APR Introductory Rate.

60 Months with
Monthly Payments of $443.37

PLAN B

No Monthly Payment,
0% APR Introductory Rate.

72 Months with
Monthly Payments of $389.45

Based on a loan amount of $20,000

 

First 18 Months

After the first 18 months,
repayment terms of:

PLAN A

No Monthly Payment,
0% APR Introductory Rate.

60 Months with
Monthly Payments of $443.37

PLAN B

No Monthly Payment,
0% APR Introductory Rate.

72 Months with
Monthly Payments of $389.45

See below example for details, as of 03/01/2023

Loan amount of $20,000 Initial Terms
 Repayment Terms
 Life of Loan Term (months) Annual Percentage Rate1
Initial Term (months) Interest Rates Monthly Payment Repayment Term Interest Rate Monthly Payment Months
Plan A 18 0.00% $0 60 11.85% $443.37 78 7.213%
Plan B 18 0.00% $0 72 11.85% $389.45 90 7.656%
Loan amount of $20,000 Initial Terms
 Repayment Terms
 Life of Loan Term (months) Annual Percentage Rate1
Initial Term (months) Interest Rates Monthly Payment Repayment Term Interest Rate Monthly Payment Months
Plan A 18 0.00% $0 60 11.85% $443.37 78 7.213%
Plan B 18 0.00% $0 72 11.85% $389.45 90 7.656%

1 APR is accurate as of 03/01/2023 APR is based on a 0.25% discounted interest rate when payments are automatically made from a CPB checking account. If automatic loan payment is selected and later canceled, the interest rate will be increased by 0.25% and the monthly payment would increase. The loan amount cannot exceed the contract amount for the photovoltaic system (materials and labor, sales tax, extended manufacturer’s warranty) with a Central Pacific Bank participating photovoltaic contractor or company. Maximum loan amount: $50,000. Offer limited to Hawaii residents and Hawaii residential property (1-4 units). This loan program is subject to change or cancellation at any time without notice. Credit application required and subject to credit approval.

Approved Contractors