Residential solar finance
Finance a home solar installation through fixed-price financing with a 20% deposit or a longer variable-price option tied to your property value.
Questa opportunità è attualmente disponibile in inglese.
Al Baraka offers two ways to finance residential solar installation, with repayments to the bank over the agreed term.
- Fixed price (Murabaha): a fixed rate for the full finance term, up to 60 months, with a 20% deposit. Under the linked application, you undertake to purchase the invoiced goods from Al Baraka after the first sale has concluded.
- Variable price (Musharaka): finance up to 20% of your property value and repay over up to ten years. The rate is fixed for the first 12 months and reviewed annually; you can make a lump-sum payment at that review. Attorneys’ bond-registration fees are discounted.
Both options have an initial one-off administration fee, no monthly administration fees and no early-settlement penalty. For fixed-price finance, the application form says a higher profit markup applies if you do not arrange insurance yourself.
For the fixed-price application, approved finance becomes available only after you sign the relevant agreement and fulfil all its conditions.
Eligibility
A registered installer of your choice must carry out the work. Private installations are not financed.
You must provide proof of your residential address dated within the last three months, a bar-coded identity document or Smart ID, proof of income and your last three months’ bank statements. Salaried applicants need the last three months’ salary confirmation; non-salaried applicants need their latest annual financial statements or income-tax return. Provide signed statements of personal income and expenditure and assets and liabilities; the latter must be in joint names if you are married in community of property.
The fixed-price form includes an adult declaration and declarations concerning court-declared mental unfitness, administration orders, pending applications for debt restructuring or alleviation, current or previous applications for debt rearrangement, current or previous sequestration, pending credit applications and open credit quotations. If a declaration is incorrect, the form asks you to identify it and give details. Al Baraka uses the information to assess your credit application and may verify it.
How to apply
- Stato
- Aperto continuamente
- Restrizioni del bando
- Apply through the bank’s product-page sales enquiry route; a fixed-price individual application form is also available.[^c5][^c6]
Use the Get in touch form on Al Baraka’s residential solar page, select your province and choose Sales to request contact from its team. For fixed-price finance, complete the linked individual application form and prepare the listed supporting documents.
Keep your application information accurate and complete and notify the bank of changes. For fixed-price finance, sign the relevant agreement and fulfil its conditions before the facility becomes available.