Solar financing calculator

Paying monthly makes solar possible for many homes and businesses, but it always costs more than paying in full. This shows exactly how much more. Jualink is not a lender; our partners decide on applications and set the final terms.

System cost (NGN)Deposit: 20% (₦800,000)Term: 24 months

Interest rate (% a year)Interest methodUpfront fee (%)Monthly fee (NGN)

Estimated monthly payment

₦175,643

for 24 months, after a ₦800,000 deposit

System cost: ₦4,000,000
Deposit: ₦800,000
Amount financed: ₦3,200,000
Interest: ₦1,015,437
Fees: ₦48,000
Total repaid to lender: ₦4,215,437
Total you pay: ₦5,063,437
Extra vs paying cash: ₦1,063,437
Effective APR (incl. fees): 29.6%

Month-by-month schedule

Month	Payment	Interest	Balance
1	₦175,643	₦74,667	₦3,099,023
2	₦175,643	₦72,311	₦2,995,691
3	₦175,643	₦69,899	₦2,889,947
4	₦175,643	₦67,432	₦2,781,736
5	₦175,643	₦64,907	₦2,671,000
6	₦175,643	₦62,323	₦2,557,680
7	₦175,643	₦59,679	₦2,441,716
8	₦175,643	₦56,973	₦2,323,046
9	₦175,643	₦54,204	₦2,201,608
10	₦175,643	₦51,371	₦2,077,335
11	₦175,643	₦48,471	₦1,950,163
12	₦175,643	₦45,504	₦1,820,024
13	₦175,643	₦42,467	₦1,686,848
14	₦175,643	₦39,360	₦1,550,564
15	₦175,643	₦36,180	₦1,411,101
16	₦175,643	₦32,926	₦1,268,384
17	₦175,643	₦29,596	₦1,122,336
18	₦175,643	₦26,188	₦972,881
19	₦175,643	₦22,701	₦819,938
20	₦175,643	₦19,132	₦663,427
21	₦175,643	₦15,480	₦503,263
22	₦175,643	₦11,743	₦339,363
23	₦175,643	₦7,918	₦171,638
24	₦175,643	₦4,005	₦0

An estimate from the terms you entered. Interest is calculated monthly on the remaining balance; fees are taken as shown. Real offers come from lenders after they review an application.

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