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Loan for solar panels

Let the sun reduce your electricity costs!

New! The Solar Loan is now also available for the installation of a heat pump.

  • Using renewable energy sources not only reduces your electricity bills but also contributes to a sustainable future for our planet.
  • Fixed annual interest rate of 4.9%.
  • Our Home Insurance cover applies to solar power plants and other power generation and home heating solutions.

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%.



Loan for solar panels

The result of the calculator is provisional and does not constitute a commitment by the bank to grant credit.


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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.

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.

Predicted savings

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Typical example

If you applied for a consumer loan amounting to EUR 8 000 with the loan agreement duration (and loan repayment term) of 7 years with the annual flat rate of 4.9 % and the following applicable fees: a minimum daily services fee (EUR 1 per month) as established by the bank; agreement administration fee of EUR 47.5; monthly payments EUR 113.3 using annuity method, then, the total consumer credit annual percentage rate would be 5.28 %, and the total amount paid by the Consumer Loan receiver would be EUR 9 564.23.

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 lead to a higher total cost of credit and its annual rate.

  • The loan is for the purchase of a remote solar power plant and the installation of your own solar power plant on the roof of your house or on your plot of land.
  • The loan is also suitable for the purchase and installation of a heat pump or wind turbine.
  • The fixed annual interest rate is lower than for other small loans – only 4.9%.
  • The loan has a repayment term of up to 10 years.

Helpful! Before filling in the application, you need to decide where you will purchase the solar power plant, part of a remote solar power plant, a wind turbine, a heat pump or other solution and how much you will need. To help you do this, we recommend that you first consult your dealer.

  1. Apply for a loan in the Internet Bank.
  2. We will inform you of the decision by phone, SMS or via the Internet Bank message.
  3. The terms and conditions of the loan agreement offered to you will be available in the Standard Loan Information provided by the Internet Bank.
  4. If you are satisfied with the terms and conditions offered, please conclude the agreement in the Internet Bank within 14 days.
  5. We will transfer the money to your account as soon as the agreement is concluded.
  6. Pay the seller in a way that suits you – by card or bank transfer.
  • Before deciding on a loan and its size, we recommend carefully evaluating personal and/or family financial capabilities. It is recommended that you allocate no more than 30-40% of your income per month to the monthly payments of all your (family's) existing financial obligations.
  • If you take a loan by yourself*, your income must be at least 550 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 1000 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.
  • You must have no outstanding credits in Swedbank or other creditors or outstanding bills.
  • Be ready to submit the official documents 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.
  • When you enter into a solar loan agreement, you commit to using the loan for its intended purpose.
  • You also undertake to provide the bank with acceptable evidence of the intended use of the loan (e.g. a copy of the connection agreement with ESO’s distribution grid, a copy of the producer-consumer agreement with UAB Ignitis, a copy of the handover-acceptance certificate for the solar and/or wind power plant, a copy of the heat pump purchase and sale agreement) to the bank at within 180 days of the loan agreement.
  • If the above steps are not taken or if the loan amount is used for another purpose, the bank reserves the right to withdraw the special fixed annual interest rate and to apply a fixed annual interest rate of 15%.

A loan suitable for energy efficient solutions in your house.

Loan that can help you to fulfill your plans!

Suitable for a new or a more expensive used car

If you are planning to borrow more than 5000 EUR for home improvement – we recommend taking a look on this loan conditions

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