Not sure which bank offers the best solar loan in Malaysia? You are not alone. In 2026, at least eight major Malaysian banks offer dedicated green or personal financing for solar panel installations — and the difference between the cheapest and most expensive option can exceed RM 15,000 over the full loan tenure. This guide compares every major solar financing option available to Malaysian homeowners and businesses, so you can walk into any bank branch fully informed.
If you have already narrowed it down to Maybank versus CIMB, read our detailed Maybank vs CIMB solar loan comparison for a granular rate and payment breakdown between those two banks specifically. This post covers the full landscape.
All Malaysian Banks Solar Loan Comparison Table 2026
Use this master table as your starting point. Rates shown are indicative as of February 2026 and vary by applicant credit profile. Always confirm directly with each bank before applying.
| Bank | Product Name | Interest / Profit Rate (p.a. flat) | Max Tenure | Min–Max Loan Amount | Processing Fee | Islamic Option | Approval Speed |
|---|---|---|---|---|---|---|---|
| Maybank | Green Term Financing | 3.50% – 4.50% | 10 years | RM 10,000 – RM 150,000 | 1.0% | Yes (Maybank Islamic) | 3 – 7 days |
| CIMB | Personal Financing-i / GreenBizReady | 3.80% – 4.80% | 10 years (personal); 7 years (biz) | RM 2,000 – RM 500,000 | 1.0% – 1.5% | Yes (Tawarruq) | 3 – 7 days |
| RHB Bank | RHB Green Personal Financing | 4.00% – 5.00% | 7 years | RM 8,000 – RM 150,000 | 0% – 1.0% (promotional) | Yes (RHB Islamic) | 5 – 10 days |
| Public Bank | PB Personal Financing | 4.20% – 5.20% | 7 years | RM 10,000 – RM 150,000 | 1.0% | Yes (Public Islamic) | 5 – 10 days |
| Bank Islam | Personal Financing-i | 3.99% – 5.50% | 10 years | RM 5,000 – RM 150,000 | 1.0% | Yes (fully Islamic) | 5 – 7 days |
| Bank Muamalat | Personal Financing-i | 4.20% – 5.80% | 8 years | RM 5,000 – RM 100,000 | 1.0% | Yes (fully Islamic) | 7 – 14 days |
| Hong Leong Bank | Personal Loan | 4.50% – 6.00% | 5 years | RM 5,000 – RM 100,000 | 0.5% – 1.5% | Yes (HLB Islamic) | 3 – 5 days |
| AmBank | AmPersonal Loan | 4.80% – 6.50% | 5 years | RM 5,000 – RM 100,000 | 1.0% | Yes (AmBank Islamic) | 5 – 10 days |
Rates as of February 2026. Final rates depend on your credit score, DSR, employment type, and existing banking relationship. Processing fees shown are standard — waiver promotions change quarterly.
Bank-by-Bank Breakdown: Who Should Apply Where?
Maybank Green Term Financing — Best for Existing Maybank Customers
Maybank remains the market leader for residential solar financing, offering the longest standard tenure (10 years) and the lowest starting flat rate (3.50% p.a.) among conventional banks. Existing Maybank salary account holders get a fast-track approval in as little as 3 working days without resubmitting payroll documents. For a RM 30,000 system on a 10-year tenure at 3.50%, the monthly payment is approximately RM 337 — lower than the average monthly TNB savings from a properly sized solar installation.
Best for: Existing Maybank customers, large system budgets (above RM 60,000), government servants, EPF-linked salary accounts.
For a deep comparison of Maybank against CIMB specifically, see our Maybank vs CIMB solar loan guide.
CIMB Personal Financing-i / GreenBizReady — Best for Business Owners and Fast Approval
CIMB's two-track structure makes it uniquely versatile. Salaried employees access Personal Financing-i (Shariah-compliant Tawarruq, fixed profit rate, up to 10 years). Business owners use GreenBizReady — a commercial green financing line up to RM 500,000, which covers factory rooftops and commercial systems that residential personal loans cannot reach. CIMB also offers a conditional approval letter within 48 hours for pre-qualified applicants, useful for locking in installer slots during high-demand periods.
Best for: Business owners needing RM 100,000+, salaried buyers who want Shariah-compliant fixed rates, buyers who need rapid conditional approval.
RHB Green Personal Financing — Best for Zero-Processing-Fee Windows
RHB regularly runs promotional campaigns that waive the standard 1% processing fee on their green personal financing product. If you apply during one of these windows, you save RM 150 – RM 1,500 upfront on a typical solar loan. Rates start at 4.00% p.a. flat, which is competitive for non-Maybank customers. Tenure up to 7 years. RHB is also integrated with several solar installer portals for streamlined document submission.
Best for: Buyers who time their application during zero-processing-fee promotions, existing RHB current account holders, systems in the RM 20,000 – RM 60,000 range.
Tip: Ask your Trexon consultant to check the current RHB promotional calendar before you apply — these windows open 3 – 4 times per year.
Public Bank Personal Financing — Best for Existing Mortgage Holders
Public Bank is not the cheapest, but existing Public Bank home loan customers often receive preferential rates on personal financing products — reducing the flat rate by 0.20% – 0.50% below the standard tier. For a homeowner who already has a PB mortgage on a linked property, this loyalty discount can close the gap with Maybank's headline rate. Tenure up to 7 years, loan range RM 10,000 – RM 150,000.
Best for: Existing Public Bank mortgage holders, buyers who prefer a single banking relationship for all property-related finance.
Bank Islam Personal Financing-i — Best for Shariah-Compliant Financing at Competitive Rates
Bank Islam is Malaysia's largest fully Islamic bank and has been aggressively pricing its Personal Financing-i product for green technology purchases. Civil servants and government-linked employees frequently qualify for the lowest profit rate tier (3.99% p.a.), making Bank Islam the cheapest option for that segment — cheaper than Maybank's conventional product. Tenure up to 10 years. All facilities are Shariah-compliant by default — no need to choose between conventional and Islamic tracks.
Best for: Government servants, teachers, nurses, police and military personnel who want the lowest Islamic financing rate in the market.
Bank Muamalat — Best for Fully Islamic Financing with Wider Eligibility
Bank Muamalat's income threshold (RM 1,500/month minimum for their base tier) is lower than most competitors, making it accessible to lower-income applicants who do not qualify for Maybank or CIMB personal financing. Profit rates start at 4.20% p.a. flat. Tenure up to 8 years, maximum loan RM 100,000.
Best for: Applicants with lower monthly income (RM 1,500 – RM 2,500), buyers who need a fully Islamic product with simple terms.
Hong Leong Bank — Best for Short-Tenure, Low-Interest-Cost Financing
Hong Leong's maximum 5-year tenure makes monthly payments higher than competitors, but total interest paid over the loan life is lower. For a homeowner who can comfortably absorb RM 600 – RM 700/month in repayments and wants to clear the loan quickly, Hong Leong minimises the total financing cost. Approval is typically among the fastest in the market (3 – 5 days).
Best for: Higher-income buyers who want to minimise total interest paid, buyers with short planning horizons (leaving the property within 5 – 7 years).
Monthly Payment Comparison: RM 30,000 System Across All Banks
The table below shows the estimated monthly payment for a RM 30,000 solar system financed at each bank's lowest advertised rate and a 7-year tenure (where available). We use 7 years as the common benchmark — most banks support this tenure and it balances monthly payment against total interest.
| Bank | Flat Rate Used | Tenure | Monthly Payment | Total Interest (RM 30,000) | Total Cost |
|---|---|---|---|---|---|
| Maybank (best rate) | 3.50% | 7 years | RM 464 | RM 9,000 | RM 39,000 |
| Bank Islam (civil servant) | 3.99% | 7 years | RM 478 | RM 10,269 | RM 40,269 |
| CIMB Personal Financing-i | 4.00% | 7 years | RM 479 | RM 10,320 | RM 40,320 |
| RHB Green Financing | 4.00% | 7 years | RM 479 | RM 10,320 | RM 40,320 |
| Public Bank | 4.20% | 7 years | RM 486 | RM 10,836 | RM 40,836 |
| Bank Muamalat | 4.20% | 7 years | RM 486 | RM 10,836 | RM 40,836 |
| Hong Leong Bank | 4.50% | 5 years | RM 612 | RM 6,750 | RM 36,750 |
| AmBank | 4.80% | 5 years | RM 620 | RM 7,200 | RM 37,200 |
Flat-rate calculations. Processing fee (typically 1% = RM 300) is additional. Monthly solar savings for a RM 30,000 system average RM 400 – RM 600/month, so the loan instalment is often fully offset by electricity bill reductions from Day 1.
Non-Bank Financing Options You Should Know About
Why EPF Withdrawal Is Not an Option
A common misconception among Malaysian homeowners is that they can withdraw from EPF (KWSP) Account 2 to fund a solar installation. This is not currently allowed — solar panels are not on KWSP's approved home improvement withdrawal list. Even if it were allowed, the math would usually argue against it: EPF dividends average 5.5% – 6.1% p.a. tax-free with compounding, so withdrawing RM 30,000 would forfeit roughly RM 1,650 – RM 1,830 per year in foregone EPF growth. A green bank loan at 3.5% – 4.5% p.a. is almost always cheaper than the opportunity cost of depleting your retirement fund.
Best alternative: Use a green bank loan from Maybank, CIMB, RHB, Public Bank or BSN. Monthly instalments are typically lower than your TNB bill savings, meaning the system is cash-flow positive from day one while your EPF keeps compounding.
Green Technology Financing Scheme (GTFS)
GTFS is a government guarantee scheme administered by MIDA and CGC that reduces the credit risk for banks lending to green technology projects. Under GTFS, the government guarantees up to 60% of the loan, enabling banks to offer lower rates or approve borrowers who would otherwise not qualify. Not all banks participate, and the scheme is primarily targeted at SMEs and commercial buyers. Residential homeowners are generally better served by standard bank personal financing.
In-House Installer Instalment Plans
Some SEDA-registered solar installers — including Trexon Energy — offer in-house hire-purchase arrangements for systems under RM 25,000. These typically require a 20% – 30% deposit, have tenures of 3 – 5 years, and carry effective rates of 7% – 12% p.a. — higher than bank financing, but accessible to buyers who do not qualify for personal loans. Ask your Trexon consultant about current in-house plan availability and eligibility criteria.
Which Financing Route Should You Choose? A Decision Framework
- Existing Maybank salary account + system below RM 150,000 — Apply to Maybank first. Fastest approval, lowest starting rate.
- Government servant / civil servant — Compare Maybank and Bank Islam. Bank Islam's 3.99% civil servant rate frequently beats Maybank's variable rate for qualifying applicants.
- Business owner, system above RM 100,000 — CIMB GreenBizReady is the only standard product reaching RM 500,000. Compare with Maybank commercial financing.
- Want Shariah-compliant, fixed profit rate — Bank Islam (lowest rate for civil servants), CIMB Personal Financing-i (fastest approval), or Bank Muamalat (widest eligibility).
- Want zero processing fee — Monitor RHB Green Financing promotions. Apply during a zero-fee window to save RM 300 – RM 1,500.
- Want to minimise total interest cost over the loan — Hong Leong 5-year tenure at 4.50% (RM 6,750 total interest) versus Maybank 7-year at 3.50% (RM 9,000). Hong Leong wins on total cost, Maybank wins on monthly cash flow.
- Large — Consider for part or all of the system cost. Eliminates bank interest entirely but requires 4 – 8 weeks processing.
- Low income or poor credit history — Bank Muamalat (RM 1,500 minimum income) or Trexon in-house plan (20% deposit required, no credit check for amounts under RM 15,000).
Our recommendation: apply to two banks simultaneously — the approval process is parallel, not sequential, and having two offers lets you negotiate. Trexon's finance team can help you prepare a single application package accepted by multiple banks.
— Chandra Rau, Founder & CEO, Trexon Energy
Documents Required: Standard Across All Banks
Regardless of which bank you apply to, prepare these documents before your first appointment to avoid delays:
- NRIC (MyKad) — front and back, certified true copy
- Latest 3 months payslips (salaried) or 2 years EPF statement (self-employed)
- Latest 3 months bank statement showing salary crediting (same account as where loan instalment will be debited)
- Latest BE tax return or EA form
- Signed quotation from a SEDA-registered solar installer — Trexon provides this at no charge even before you have committed to proceeding
- For commercial/business applicants: SSM registration, latest 2 years management accounts or audited financials, and 6 months business bank statements
FAQ: Solar Financing Malaysia 2026
Which bank has the cheapest solar loan in Malaysia in 2026?
Maybank offers the lowest starting flat rate at 3.50% p.a. for residential personal financing. For civil servants specifically, Bank Islam's 3.99% rate (fixed, Islamic) is competitive and sometimes lower than Maybank's effective variable rate. The "cheapest" loan depends on your income profile, credit score, and banking relationship — not just the headline rate.
Can I apply to multiple banks at the same time for a solar loan?
Yes. Applying to two or three banks simultaneously is a standard strategy. Each bank inquiry shows on your CCRIS report, but multiple inquiries within a 30-day window are typically treated as a single event by credit scoring systems. Having competing offers also lets you negotiate rates — especially if you are an existing customer of one of the banks.
What is the maximum solar loan amount available in Malaysia?
For residential personal financing, the highest ceiling is RM 150,000 (Maybank and CIMB). For commercial or business applicants, CIMB GreenBizReady reaches RM 500,000. Projects above RM 500,000 typically require a secured commercial property loan or a structured GTFS facility.
Does taking a solar loan affect my ability to get a home loan later?
Yes — a solar personal loan increases your existing debt service ratio (DSR), which banks consider when assessing home loan applications. If you are planning to apply for a home loan within the next 12 – 24 months, discuss the sequencing with a financial adviser or Trexon's finance team. In some cases, completing the solar loan first or choosing (which does not create a liability) is the better strategy.
Can I use a solar loan for a commercial or industrial rooftop system?
Residential personal financing (Maybank Green Term, CIMB Personal Financing-i, Bank Islam PF-i) is designed for homeowners and covers single residential installations. For commercial, industrial, or multi-unit properties, you need a commercial green loan (CIMB GreenBizReady, RHB Business Financing, or a GTFS-backed facility). The documentation requirements and approval timelines are longer for commercial facilities.
Ready to Compare Your Options?
Trexon's finance team has helped over 400 Malaysian homeowners and businesses structure their solar financing since 2019. We work with all major banks listed above and can pre-assess your eligibility, prepare a single installer documentation package accepted across multiple banks, and advise on the optimal loan structure for your income profile.
WhatsApp our finance team now — share your system size and monthly income, and we will respond with a personalised financing recommendation within 2 business hours.
You can also run your own payback calculation on the Trexon Solar Calculator, or read our detailed Maybank vs CIMB head-to-head comparison if you have already shortlisted those two banks.