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Loan for solar panels

Let the sun lower your energy costs!

Now you can apply for a special consumer loan and take the green step to benefit everyone by installing your own solar power plant.

  • The loan is for the installation of a solar power plant or the purchase of a remote part of a solar power plant.
  • Fixed interest rate of 4,9%.
  • Using renewable energy sources is not only more cost effective, but also contributes to a more sustainable future of our planet.
  • If you‘ve got Swedbank Home Insurance, your solar panels will be also protected by it.

Please note that by using financial services you assume financial obligations. Defaulting on a financial obligation can have a negative impact on your credit history and increase your borrowing costs; enforced recovery may also be initiated, and using a loan not according to its purpose may result in the increase in the annual interest rate even up to 15%.


The amount of electricity consumed is calculated on the basis of the single-zone electricity tariffs applicable in Lithuania from 1 January 2022. The recommended solar power plant capacity has been calculated on the basis of the assumption that 1 kW solar power plant generates averagely 1000 kWh of electricity per year. The average market price is indicated, which may differ depending on the rates applied by your contractor.

Loan for solar panels

The recommended solar power plant capacity, price and possible savings have been calculated preliminarily, having evaluated average market prices. Your selected contractor will provide you with precise information on solar power plants and help you assess your needs.

The loan amount is preliminary and has been calculated only on the basis of your provided data on electricity needs as well as the average market prices for solar power plants. After you make a decision to acquire a solar power plant and know its price, you may apply for the required loan amount.

Predicted savings

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Prior to making a decision regarding the loan and its amount we recommend thoroughly evaluating your personal and/or family’s financial resources. Not more than 30–40% of monthly income is recommended to be allocated for the monthly payments of all your (family’s) undertaken financial obligations.

Typical example

If you applied for a consumer loan amounting to EUR 6 000 with the loan agreement duration (and loan repayment term) of 6 years with the annual flat rate of 4.9 % and the following applicable fees: a minimum daily services fee (EUR 0.70 per month) as established by the bank; agreement administration fee of EUR 95; monthly payments EUR 96.54 using annuity method, then, the total consumer credit annual percentage rate would be 5.92 %, and the total amount paid by the Consumer Loan receiver would be EUR 7 090.37.

The annual percentage rate of the total cost of the consumer loan, the total amount to be paid by the borrower and the amount of the premium have been calculated on the assumptions that the loan agreement will be valid for a term equal to the duration of the loan agreement, that the full amount of the loan will be drawn down on the date of signature of the agreement, that the parties will perform their obligations in full in a satisfactory manner, and that the interest rate, the amount of the fees, and the other costs will be maintained in the same proportion at the moment of the conclusion of the loan agreement, which will remain the same for the duration of the loan agreement.

The interest rate has been set with a discount that might be cancelled and the annual fixed interest rate of 15% may be set if the loan is not used according to its purpose, which may result in a bigger APRC.

  • For purchasing and installing your own solar panels, i.e., on the roof of your house or woodshed or on the land plot you own.
  • For purchasing a fraction of panels in an already installed remote solar power plant.

Wondering which solution suits you better? Check out the information prepared by the Ministry of Energy of the Republic of Lithuania.

Tips! Before applying for a loan for solar panels, you need to decide from which company you are going to buy them and how much money will you need.

To know that, we recommend to consult with the sellers of solar panels.

You‘ll apply in five easy steps:

  1. Fill out the application in Internet bank.
  2. We’ll notify you about the decision via sms, by a phone call, or by ending you a message in Internet bank.
  3. Then you’ll need to get acquainted with terms of the agreement in the Standard credit information.
  4. If the conditions are acceptable to you, sign the agreement in the Internet bank.
  5. That’s it! We’ll transfer you the money immediately after signing the agreement.


  • If you take a loan by yourself*, your income must be at least 450 EUR per month after tax.
  • If you take a loan with a co-borrower, total income of a family (co-borrower) must be at least 800 EUR per month after tax.
  • You must be earning a steady income for at least 6 consecutive months and your probation period must be over.


  • Monthly expenses for covering your credits must not exceed 40% of your monthly income.
  • You must have no outstanding credits in Swedbank or other creditors or outstanding bills.
  • Be ready to submit the official documents at a branch evidencing the receipt of the income if the expected source of repayment is not a salary/wages.

*If you are married, but want to take a loan by yourself, please, indicate that you want to get a personal loan, then filling in the application. If your income is not enough to get such a personal loan, your spouse will have to fill out a co-borrower application, so the bank can assess the family's creditworthiness.

  • Loan amount from 3 000 to 20 000 EUR.
  • Loan period up to 10 years, so monthly payments may be smaller.
  • Can be repaid before maturity without additional fees.
  • No down payment required.
  • Fixed interest rate is 4,9%.
  • Interest is paid from the total outstanding amount of the loan granted.
  • Contract fee is 1% of loan amount (min 95 EUR).
  • You should have an active Swedbank account. All information about handling of accounts fees is published on bank fees section.
  • If you‘ve got Swedbank Home Insurance, its Real estate insurance cover will apply for solar panels installed on insured house, it‘s additions or in a land plot owned by you. More about insurance
  • Loan payments are automatically debited from your Swedbank account on the basis of annuity schedule within the agreed term by means of pre-determined monthly payments on your determined payment date (3, 7, 12, 17, 22 or 27).
  • Loan term can be from 6 months up to 10 years.
  • The process of debiting the borrower’s account with the amount payable under a credit agreement begins at 17:45 on the payment day specified in the agreement. Make sure you have enough funds available in the account.
  • Possibility to make early repayments without any additional fees.
  • After concluding a small loan for solar panels agreement, you commit to purchasing solar panels for installation or a fraction of panels in an already installed solar power plant. You are obliged to deliver a proving documents (i.e. copy of the agreement on connection to the ESO distribution network, copy of the agreement of producing consumer with „Ignitis“UAB, delivery and acceptance certificate of solar panel) within 180 days. Send the aforementioned documents via e-mail:
  • In case of discovering that the loan was used not according to its intended purpose, the bank shall have the right to cancel the special fixed interest rate and to apply 15% yearly interest rate.

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