In our previous post, we discussed top solar financing companies in Nigeria, where we mentioned Sunking as one of the popular solar companies in the country that offer solar financing options to Nigerins.
Sunking offer solar financing option called ‘’EasyBuy’’. This financing option allows Nigerians to easily buy solar devices from the company and for them on intallment. However, the EasyBuy at Sunking has its own terms and conditions.
The Sunking solar fiancing option allows Nigerians to buy solar products that are worth up to ₦7,000,000 and pay for them on installment within a period of one year. However, you will need to make a down paymnet of at least 30% before you can get this offer and this solar loan comes with a high interest rate ranging from 5% to 7%.
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Overview of Sunking Solar Paymnet in Nigeria
Sunking Solar Company has an EasyBuy payment option that allows customers to pay for the cost of any of the Sunking products they buy in installments, making the payment flexible for their customers.
The EasyBuy terms and conditions at Sunking vary depending on the product you buy. Meanwhile, you will need to accept the terms and conditions of the Sunking solar company and make a 30% down payment of the product costs before you will be able to take the product home and subsequently pay the remaining amount within 12 months.
The Sunking EasyBuy repayment plan is weekly, and you can pay using mobile money or pay in cash. Although you will carry the product to your home even without completing your payment, Sunking will still be in control of the device until you complete your payment. In fact, anytime you default on a payment, Sunking will lock your device until you make your payment. The good thing is that, once you complete your payment, Sunking will unlock the product for you and it becomes yours permanently.
Sunking Solar Financing
Although Sunking allows their customers to buy solar products without upfront payment, it comes with terms and conditions. So, if you want to take advantage of the EasyBuy financing option at Sunking, then you will need to know their financing terms. They are given below:
Loan Amount: Up to ₦7,000,000
Interest Rate: 5% to 7%
Down Payment: 30%
Repayment Term: 12 month
Sunking Solar Financing Terms and Conditions
The Sunking solar financing terms and conditions are not far from what we discussed earlier. However, for the sake of clarity, let’s shed more light on it.
Once you buy solar product from Sunking using their EasyBuy option, you will need to make down payment and you can them take the product home. However, the product will be under intense monitoring pending when you complete your payment.
If you fail to make your part payment on or before the due date, your solar device will be locked automatically. And it will remain off until you make your payment. However, once you pay, you will receive a code via SMS that you will use to unlock your solar device.
Meanwhile, buyers will get replacement if the solar device spoilt before the warranty expires according to Sunking policy.