Household solar finance
Borrow to buy a new home solar system from an approved supplier, with repayment over up to eight years and no need for a Nedbank home loan.
Deze mogelijkheid is momenteel in het Engels beschikbaar.
MFC, a division of Nedbank, provides a separate loan to buy a solar-energy system for your home. You repay the borrowing with interest over an agreed period of up to 96 months.
Your loan must be more than R50,000. Get an installation quote from a Nedbank-approved supplier before applying.
Eligibility
- You must be a South African citizen with a valid identity card or document and a healthy credit score.
- The system must be new. Used, demonstration and second-hand systems cannot be financed.
- If you are not the registered property owner, or your property is a sectional-title unit, Nedbank supplies a consent waiver for the registered owner and/or trustees to approve. Return the signed waiver before your application can proceed.
- If you rent the property where the system will be installed, you must pay a deposit of at least 50%. Nedbank may require a larger deposit after considering the additional risk.
How to apply
- Status
- Doorlopend open
Start with Avo Solar or another Nedbank-approved solar supplier to arrange an assessment of your energy needs, an engineering proposal and your installation quote. Apply through the MFC online solar-finance form or a Nedbank branch.
Have your South African ID, proof of address such as a utility bill no older than three months, income evidence no older than three months, stamped bank statements for the past three months, an installation quote or supplier invoice, and a comprehensive insurance quote for the system ready.
Once the finance is arranged, contact your supplier to arrange installation.