Loan for solar panels

• 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, energy storage battery 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, energy storage battery, 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.
• If you take a loan exceeding 20 000 EUR by yourself, your income must be at least 1600 EUR per month after tax (with a co-borrower, total income of a family must be at least 2400 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.

• Loan amount from 3 000 to 30 000 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 saule@swedbank.lt 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%.