In a move to strengthen its environmental, social and governance (ESG)-related offerings to retail customers, OCBC Bank (Malaysia) Berhad (OCBC Bank) is tying up with five electric vehicle (EV)-related companies to provide EV owners with affordable options for their green journey.

OCBC Bank said in a statement that the collaboration with EV Connection, CarputZap, GoCar, Renault and PowerBee (a wholly owned subsidiary of Solarvest Holdings Berhad) will, among others, avail to OCBC cardmembers 0 percent instalment payment plan (IPP) options of up to 24 months on EV chargers.

They will also get to enjoy discounts on EV chargers, on car sharing rides, and daily to yearly subscription of electric vehicles.

According to OCBC Bank Managing Director and Head of Consumer Financial Services Anne Leh, the rollout of the offerings comes on the back of increasing demand from customers for support in their electric vehicle-ownership journey.

She said that the introduction of the electric vehicle-related offerings is part of the bank’s overall strategy to focus on encouraging its customers to stay with their EV journey.

“EVs are a key component of a low carbon economy. By providing attractive credit card offers and instalment payment plans, we hope to help our customers in their acquisition of peripherals like EV chargers and usage of rental electric vehicles,” she said.

She noted that the endgame is of course to encourage those who wish to switch to EV to do so knowing full well that they have the necessary support.

According to her, one of the bank’s partners is offering a solution for its customers who are having difficulty convincing their condominium and commercial property management to install EV chargers, whereby the partner provides complimentary installation of a public pay-per-use EV charger at the property.

She noted that OCBC cardholders utilizing the EV chargers at these condominiums and commercial properties will get to enjoy a 10 percent rebate on the EV charging charges.

She said the bank’s tie ups also extend offers for non-EV drivers to try out EVs at a discounted price with daily, weekly, 30-day, and yearly subscriptions, thus easing the decision to purchase an EV.

Apart from 0 percent IPP for OCBC credit cardholders, she said debit cardholders are also eligible for all the other deals.

She added that OCBC Bank is also working towards collaborating with other EV partners to offer its customers 0 percent IPP on their EV down payments.

Last year, OCBC Bank became part of a relatively rare group of building owners in the city center to offer EV charging services, aligned with its quest to promote sustainability and climate-friendly practices.

The chargers were installed at Menara OCBC by Petaling Jaya-based EV Connection Sdn Bhd (EVC) in Malaysia, a pioneer in the electric vehicle charging infrastructure and solution provider established in 2016.

EVC is a registered electrical contractor with Energy Commission (Suruhanjaya Tenaga) Malaysia and a certified EV charger installer by TUV Rheinland.

OCBC an established Singapore bank, formed in 1932 from
the merger of three local banks in Singapore.

It is now the second largest financial services group in Southeast Asia by assets.

OCBC and its subsidiaries offer a broad array of commercial banking, specialist financial and wealth management services, ranging from consumer, corporate, investment, private and transaction banking to treasury, insurance, asset management and stockbroking services.

The bank’s key markets are Singapore, Malaysia, Indonesia and China. It has more than 420 branches and representative offices in 19 countries and regions.

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