Take advantage of a Bounce Back Solar Loan

Your solar loan includes full cost installation of solar panels, inverters, batteries, and other components. Get all this at a personalized interest rate capped at a discounted prime plus 2.5%!

Get flexible repayment terms of up to 60 months

  • What you get

    • Save on costs
    • Reduce your electricity bill
    • Save the environment: reduce air pollution by generating your own electricity from the sun
    • Beat Load-Shedding
    • Keep the lights on for a fraction of your current costs with alternative power solutions

     

  • How to qualify

    • Earn a regular monthly income of at least R2 000 per month
    • Have a bank account into which your salary is paid
    • Be 18 years or older
    • Must have an invoice\quotation from an accredited solar provider

  • How to apply

    • Call us on 0860 100 372

Frequently asked questions (FAQ’s)

  • What is the Bounce Back Solar Loan?

    This is part of government’s efforts to encourage electricity generation and reduce the impact of loadshedding on the country. Also aims to incentivize the installation of rooftop solar solutions in South Africa. 

  • Who can apply for a Bounce Back Solar Loan?

    Property owners or individuals who have permission from the property owner to install a rooftop solar system.

  • How long will the Bounce Back Solar Loan be available?

    Government has opted to put an expiry date on the availability of the loan scheme. This means individuals only have until 30 August 2024 to apply.

  • What can the Bounce Back Solar Loan be used for?

    For households that are unable or don’t want to finance a solar installation through their home loan, the Bounce Back Solar Loan offers several benefits that would not be available under normal circumstances.

    • Low interest rate: get personalized interest rates up to a maximum of prime plus 2.5%
    • Flexible terms: choose to repay your loan between 12 months to 5 years
    • Full system financing: choose to cover the full cost of your solar installation. Loans range from R3 000 up to a maximum of R300 000

  • Does Absa provide a guarantee for my solar installation?

    No, Absa does not provide a guarantee for the product. Guarantees and warranties on solar hardware and installation are at the sole discretion between you and your solar provider. Absa would only provide provision for financing your rooftop solar solution through the Bounce Back Solar Loan.