Discovery Bank and Rubicon have partnered to provide backup power solutions to Discovery Bank clients with a guaranteed installation within three weeks after the initial consultation.
Hylton Kallner, CEO of Discovery Bank, said this initiative was launched in response to elevated levels of load-shedding South Africans are experiencing in 2023.
This partnership will give the bank’s clients access to the full suite of Rubicon’s backup power solutions, including a Tesla Powerwall.
Rubicon is a South African sustainable energy provider which offers a range of products and services, from solar power generation and storage to electric vehicle charging infrastructure.
Rubicon will provide the installation and post-installation services which will all be funded through the financing facility with Discovery Bank.
The companies guarantee complete installation within three weeks of the initial consultation and a seamless process that takes place on Discovery’s power backup financing platform.
All Discovery Bank clients, from their entry-level accounts to the exclusive Purple account holders, will have access to the financing facility.
The exclusivity to Discovery Bank clients ensures that the financing and product are tailored to individual needs and unique financial situations.
An online calculator will allow clients to get an instant quote relevant to their needs and financing options with interest rates starting at prime minus 2%.
Another unique feature is that this will not be a rental product. Instead, the client will own the equipment, from the solar panels to the inverters and batteries.
This enables the client to claim the tax deductions for the solar panels.
Discovery Bank has limited the rollout to a select number of clients, from which it will expand to its entire client base in the coming weeks.