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: 10% (₦400,000)Term: 18 months

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

Estimated monthly payment

₦259,577

for 18 months, after a ₦400,000 deposit

System cost: ₦4,000,000
Deposit: ₦400,000
Amount financed: ₦3,600,000
Interest: ₦1,045,385
Fees: ₦99,000
Total repaid to lender: ₦4,672,385
Total you pay: ₦5,144,385
Extra vs paying cash: ₦1,144,385
Effective APR (incl. fees): 37.7%

Month-by-month schedule

Month	Payment	Interest	Balance
1	₦259,577	₦102,000	₦3,443,923
2	₦259,577	₦97,578	₦3,283,424
3	₦259,577	₦93,030	₦3,118,377
4	₦259,577	₦88,354	₦2,948,654
5	₦259,577	₦83,545	₦2,774,123
6	₦259,577	₦78,600	₦2,594,646
7	₦259,577	₦73,515	₦2,410,084
8	₦259,577	₦68,286	₦2,220,293
9	₦259,577	₦62,908	₦2,025,124
10	₦259,577	₦57,379	₦1,824,425
11	₦259,577	₦51,692	₦1,618,041
12	₦259,577	₦45,844	₦1,405,808
13	₦259,577	₦39,831	₦1,187,562
14	₦259,577	₦33,648	₦963,133
15	₦259,577	₦27,289	₦732,345
16	₦259,577	₦20,750	₦495,018
17	₦259,577	₦14,026	₦250,966
18	₦259,577	₦7,111	₦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.

Partner products in Nigeria

Pick one to load its published terms into the calculator.

Kobocash Credit

Business Solar Loan · Loan · Fintech lender

26% a year (reducing), 25% deposit, 6–36 months

Finances ₦1M – ₦40M

Ireti Microfinance Bank

Solar Home Instalment · Deposit + instalments · Microfinance institution

28% a year (reducing), 20% deposit, 6–24 months

Finances ₦300K – ₦15M

Kobocash Credit

PayGo Solar Loan · Pay over time · Fintech lender

34% a year (reducing), 10% deposit, 3–18 months

Finances ₦100K – ₦6M