Provided is an SnCu lead-free solder alloy which eliminates a drawback that an intermetallic compound excessively precipitates and the precipitate serves as nuclei to form dross to thereby cause soldering defects including a needle-like protrusion to occur, thus to satisfy all of the properties required for practical use.A lead-free solder alloy contains 0.1 to 1.5% by weight of Cu, not less than 0.01 and less than 0.05% by weight of Co, 0.05 to 0.5% by weight of Ag and 0.01 to 0.1% by weight of Sb, the remainder being Sn, or further contains 0.001 to 0.008% by weight of Ge, whereby the formation of dross is prevented, and thus the drawback that soldering defects including a needle-like protrusion occur is eliminated.