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Apply for a solar loan through Savvy today and receive approval as soon as the same day up to $5,000.
Author
Savvy Editorial TeamFact checked
Author
Savvy Editorial TeamFact checked
If you find yourself needing fast money for solar improvements, like those shiny new panels or a solar hot water system, you may wish to consider a solar loan. Fortunately, Savvy is here to help you find and secure the finance you need to cover some of your solar costs. Apply for a small loan through us today and discover a simple, straightforward solution. Take the first step toward a brighter and eco-friendly future!
You can take out a fast and easy small loan to help you cover the cost of your solar installation or improvements, which you can do through Savvy. These loans are designed to be applied for, approved and advanced to your bank account quickly, making them suitable for emergency or otherwise urgent needs.
The application process through Savvy is a very simple, user-friendly one. Here are the simple steps to follow if you wish to apply for a fast solar loan:
When it comes to solar loans, you can potentially secure any amount between $2,050 and $5,000 by applying through Savvy, subject to meeting the necessary lender eligibility criteria. This flexible spectrum caters to various financial needs, enabling individuals to choose an amount that aligns with their specific solar project requirements.
Each applicant's financial situation is unique, and the amount you can borrow may differ based on these individual circumstances. Keep in mind that your borrowing capacity is influenced by factors like credit score, income, existing liabilities, savings, and other relevant financial considerations. It's important to note that your income must come from one or more jobs with stable pay and hours and/or eligible Centrelink payments.
As mentioned, you can apply for your solar loan and receive formal approval and have your funds released as soon as the same day (potentially within one hour). Approval is always dependent on your application passing all of your lender’s required assessments and meeting their criteria.
However, it’s important to note that there are several key variables which can impact the speed of your application’s approval. These include:
No matter the time of day or week, you can complete your small loan application with us online.
You can receive an outcome in 60 seconds and, if successful, have your money sent in just one hour.
We're partnered with reputable Australian lenders to bring you greater peace of mind when applying for your small loan.
Yes – you can still apply for a solar loan even if you have bad credit, assuming you meet your lender’s other criteria. Traditional lenders often prioritise credit scores, but lenders offering solar loans tend to take a more flexible approach. They consider your current financial situation rather than solely relying on your credit history.
Yes – you can repay your solar loan ahead of schedule. As is the case with all small cash loans, solar loans don't come with early repayment penalties. This means settling your loan early is a smart way to minimise fees, as you’ll be able to reduce the amount you pay in monthly fees overall. For example, if you choose to pay off your 12-month loan in just six months, you could potentially save hundreds of dollars.
Yes – you can use the funds you receive however you like. If you have money left over from your solar panels, you may wish to use them to cover other bills or food expenses, for example. However, there are restrictions on how you can use these loan funds, such as for paying off other small loans or gambling.
The main costs associated with your loan are the establishment fee (capped at $400) and monthly fees (capped at 48% of your loan’s total value per year). However, the amount you’ll actually pay will depend on factors such as:
Disclaimer:
The information on this website is of general nature and does not take into consideration your objectives, financial situation or needs.
For loans between $2,050 and $5,000, the APR is between 21.24% (minimum) and 48% (maximum) per annum. Comparison rate of 65.4962%. Minimum term is 16 days and maximum term is 24 months. The cost of the loan is a $400 establishment fee and monthly interest charged on the amount borrowed. For example, a loan of $3,000 over 3 months with an APR of 48%, (comparison rate of 65.4962%), will have an establishment fee of $400, monthly repayments of $1,225.20. Total repayments of $3,675.60 and total interest payment of $275.60.
Warning: A comparison rate indicates the true cost of a loan. Comparison rates are true only for the examples provided and may not include all fees and charges. Different terms, fees or loan amounts might result in a different comparison rate.
Quantum Savvy Pty Ltd (ABN 78 660 493 194) trades as Savvy and operates as an Authorised Credit Representative 541339 of Australian Credit Licence 414426 (AFAS Group Pty Ltd, ABN 12 134 138 686). We are one of Australia’s leading financial comparison sites and have been helping Australians make savvy decisions when it comes to their money for over a decade.
We’re partnered with lenders, insurers and other financial institutions who compensate us for business initiated through our website. We earn a commission each time a customer chooses or buys a product advertised on our site, which you can find out more about here, as well as in our credit guide for asset finance. It’s also crucial to read the terms and conditions, Product Disclosure Statement (PDS) or credit guide of our partners before signing up for your chosen product. However, the compensation we receive doesn’t impact the content written and published on our website, as our writing team exercises full editorial independence.
For more information about us and how we conduct our business, you can read our privacy policy and terms of use.
© Copyright 2024 Quantum Savvy Pty Ltd T/as Savvy. All Rights Reserved.
© Copyright 2024 Quantum Savvy Pty Ltd T/as Savvy. All Rights Reserved.
Quantum Savvy Pty Ltd (ABN 78 660 493 194) trades as Savvy and operates as an Authorised Credit Representative 541339 of Australian Credit Licence 414426 (AFAS Group Pty Ltd, ABN 12 134 138 686). We are one of Australia’s leading financial comparison sites and have been helping Australians make savvy decisions when it comes to their money for over a decade.
We’re partnered with lenders, insurers and other financial institutions who compensate us for business initiated through our website. We earn a commission each time a customer chooses or buys a product advertised on our site, which you can find out more about here, as well as in our credit guide for asset finance. It’s also crucial to read the terms and conditions, Product Disclosure Statement (PDS) or credit guide of our partners before signing up for your chosen product. However, the compensation we receive doesn’t impact the content written and published on our website, as our writing team exercises full editorial independence.
For more information about us and how we conduct our business, you can read our privacy policy and terms of use.
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