As load shedding continues to impact businesses and households across South Africa, the shift to renewable energy is no longer a luxury—it’s a necessity. First National Bank (FNB) has positioned itself as a leader in the green finance space, offering innovative solutions for customers seeking sustainable power alternatives.
In this guide, we’ll walk you through everything you need to know about applying for FNB’s green energy loans, from eligibility criteria and application steps to financing options and practical tips.
Why FNB Offers Green Energy Financing
FNB has integrated sustainable energy lending into its broader ecosystem of financial services to support individuals and businesses facing South Africa’s worsening energy crisis. The bank’s goal is to help customers reduce their reliance on the national grid by funding solutions like solar panels, battery storage, inverters, and backup power units.
According to BusinessTech, these initiatives are in direct response to increasing demand for energy resilience. They form part of FNB’s broader commitment to environmental sustainability and customer financial health.
Green Energy Loan Products Offered by FNB
FNB offers three primary types of energy financing solutions, depending on your specific needs:
1. Solar Energy Loan through FNB Home Loan
This option allows homeowners to fund a solar energy system as part of their home loan. Customers can apply for additional financing or include energy upgrades during a new or existing bond registration.
- Minimum Loan Amount: R50,000
- Maximum: Up to 15% of the property value
- Interest Rate: Same as your existing home loan
- Installer Requirements: Must be SAPVIA-accredited
The solar loan is added to your home loan and repaid over the remaining term of the bond. FNB disburses the funds directly to your selected supplier once the necessary paperwork is submitted.
Learn more on the FNB Solar Loan page.
2. FNB Connect Energy Loan (via nav»Energy)
For clients looking to purchase smaller energy products—like backup batteries, generators, or hybrid power stations—FNB offers short-term digital loans through the FNB App’s nav»Energy platform.
According to MyBroadband, this facility provides customers with pre-approved offers for energy devices starting from as little as R149/month over 24 months. Products are sourced from verified suppliers and delivered to the customer’s door.
3. Energy Bounce Back Loan Scheme
The Energy Bounce Back Scheme, launched in partnership with the South African government, is tailored to help both individuals and small to medium-sized enterprises (SMEs) transition to clean energy.
As detailed in IOL’s report, the scheme offers:
- Personal Loans: R3,000 to R300,000
- Business Loans: R10,000 to R10 million (for companies with ≤ R300 million turnover)
- Interest Rate: Prime + 1% (after proof that 90% of loan was used for green energy purposes)
Funds must be used primarily for items like solar panels, batteries, or inverters, and proof of usage must be submitted within two months.
Eligibility Requirements
The qualification criteria differ by loan type, but generally, applicants must:
- Be an FNB client in good standing
- Meet credit score requirements
- Provide a quotation from an accredited supplier
- Use the funds for energy solutions only (or at least 90% in the case of Bounce Back loans)
For home loan solar finance, you also need to be either applying for a new bond, switching, or doing a further advance or future use of your existing bond. The home should also allow rooftop solar installation—e.g., not restricted by sectional title or body corporate agreements.
For more details, check out the FNB Green Energy Loan FAQ.
Step-by-Step Guide to Applying
Step 1: Get a Solar Installation Quote
Start by contacting a reputable, SAPVIA-accredited installer. The quote should be detailed and include all equipment, labour, and installation costs.
Use platforms like GreenCape or SAPVIA to find approved solar providers.
Step 2: Choose the Right Loan Option
Depending on your needs:
- Go with the Home Loan Solar Add-On if you want to add solar financing to your bond.
- Choose FNB Connect (nav»Energy) for a quick, app-based small-scale energy product.
- Select Bounce Back for affordable unsecured loans with interest rate benefits.
Step 3: Apply via the FNB App
- Navigate to nav»Energy in your FNB App.
- Select the relevant loan category: “Home,” “Connect Shop,” or “Energy Bounce Back.”
- Upload your installation quote and any required compliance documentation.
- Submit your application digitally.
More information is available on the FNB nav»Energy platform.
Step 4: Wait for Loan Approval
FNB will process your application, run credit checks, and verify documents. For home loans, they may also reassess your property value.
Step 5: Disbursement and Installation
Once approved, FNB pays the installer directly. You may need to submit:
- Proof of installation
- Electrical compliance certificates
- Final invoices
Disbursement for Bounce Back loans requires you to submit proof that at least 90% of the funds were used for energy purposes to benefit from the reduced interest rate.
Post-Approval Obligations
After you receive the funds, you’ll need to:
- Install within 6 months (home loan)
- Submit proof of usage within 2 months (Bounce Back personal loans)
- Maintain the system and keep compliance certificates
- Meet repayment terms according to your contract
FNB’s support team will follow up periodically to verify compliance and offer assistance if needed.
Advantages of FNB’s Green Energy Financing
Here are key benefits of applying through FNB:
- Integrated solutions: Bundling solar into your home loan reduces the need for separate credit checks.
- No deposit requirements: Especially beneficial under the Bounce Back scheme.
- Tax benefits: You may qualify for a solar rebate (as outlined by HT Energy).
- Digitized experience: The entire process is managed via the mobile app.
- Verified installers: FNB partners with top-tier suppliers to ensure safety and quality.
What to Watch Out For
While FNB’s green loans are convenient, there are some caveats:
- Not all homes qualify for rooftop installations (e.g., apartments).
- You may not qualify if your credit score is poor or your income is unstable.
- Delays in installation can impact your eligibility for rate reductions or full disbursement.
- Additional maintenance costs are your responsibility after installation.
Be sure to weigh the return on investment—especially if you plan to sell your property within a few years.
Frequently Asked Questions (FAQs)
Can I add solar to an existing home loan?
Yes. FNB allows you to top up or re-advance your existing bond for energy upgrades. Details can be found on their Alternative Energy Solutions page.
How long does it take to get approved?
The process typically takes 3–10 business days, depending on the loan type and documentation provided.
Can tenants apply?
FNB green loans are primarily structured for property owners, but tenants can explore the FNB Connect product range for short-term options like portable power stations or backup inverters.
Final Thoughts
South Africa’s power instability calls for long-term, sustainable solutions—and FNB’s green energy loan offerings meet that challenge with convenience, flexibility, and affordability.
Whether you’re installing a rooftop solar system through your home loan, buying a backup UPS via FNB Connect, or applying for a low-interest Energy Bounce Back loan, the process is streamlined and digital.
To get started, explore the FNB nav»Energy dashboard or visit your nearest branch for assistance.
Your journey to a more energy-resilient future could be just a few clicks away.