The present invention relates to a soldering alloy composed mainly of Sn and free from lead, a toxic substance. Adding a small quantity of Ag to the soldering alloy can make the alloy structure fine, minimize structural changes of the alloy and increase its thermal fatigue resistance. Adding a small quantity of Bi to the soldering alloy lowers the melting point and improves the alloy's wettability. Further, adding a small quantity of Cu restrains the growth of intermetallic compounds in the bonding interface between a copper land and the solder. Furthermore, addition of a small quantity of In improves the elongation property and thermal fatigue resistance of the alloy.