Loan for solar panels

• 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.

Income

• 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.

Obligations

• 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.

• 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: saule@swedbank.lt.
• 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.