Solar panel loan
Borrow without pledging your property to buy and install solar panels, batteries, heat pumps or wind generators for your home.
Diese Finanzierungsmöglichkeit ist derzeit auf Englisch beschrieben.
The loan provides €3,000–€30,000 for buying and installing energy equipment, with repayment over six months to ten years. No down payment or property pledge is required.
Swedbank advertises a fixed interest rate of 5.9% and a processing fee of 1% of the loan amount, with a €100 minimum. Check the interest rate and other terms offered in your agreement before signing.
Monthly repayments are taken automatically from your Swedbank account. You can repay part or all of the loan early through Internet Banking without an extra charge. After full early repayment, you can request a proportional reduction of the total credit cost by sending the bank an Internet Banking message.
Eligibility
- You must be at least 18 years old.
- Your monthly income after tax must be at least €600, or €1,100 when borrowing with a co-borrower.
- You must have no arrears on existing loan obligations.
- Before applying, the property where you will carry out the work must be registered in the Land Register in your name or your co-borrower’s name.
- You may choose a solar-panel installer outside Swedbank’s partner network.
How to apply
- Status
- Laufende Antragstellung
Complete the application on Swedbank’s solar panel loan page. The bank will notify you of its decision by text message or phone. Read the offered interest rate and terms, then sign the agreement remotely through Internet Banking between 8 AM and 9 PM. The money is credited to your Swedbank current account after signing.
Signing commits you to purchasing and installing the equipment. Within 180 days of signing, upload a transaction document through Internet Banking according to your agreement. The page lists these alternatives: a document confirming that solar panels or wind generators are connected to the electricity system; a written purchase-and-installation agreement with the supplier; or a supplier invoice with a payment order or cash-register receipt covering at least 90% of the total loan amount. If you do not submit proof of the intended use on time, the agreement’s interest rate rises to 19%.
If you withdraw from the agreement, notify the bank within 14 days of receiving the loan amount and repay the principal plus interest for the time you used it.