Central Bank of India Finance Options

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Pm Surya Ghar Loan: Many of the people are planning to install Solar Panel under the scheme Pm Surya Ghar Muft Bijli Yojana, but their main concern is the budget and to overcome this government will provide a subsidy amount to the beneficiary and on other hand Bank Financing Option is also there to reduce the financial load of the person who is not able to arrange the money at the time of installation.

Here is the complete information of finance(loan) offered by Central Bank of India{Roof Top Solar Loan Scheme}-

Pm Surya Ghar Loan upto 3KW-

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S.No.ParameterEligibility Conditions (Up-to 3KW)
1.Purpose and Loan amountInstallation of Solar Roof Top Upto 3 KW
Maximum Loan Amount: 6.00 lacs
1 a.ProjectCost AssumptionMaximum Loan Amount assuming cost of Installation @ Rs. 70000 per KW. (approximately)
2.Eligibility1.All Individual Applicants
2. Applicant having minimum CIBIL Score of 700 & above (NTC also eligible)
3. Have Roof Top Rights on which the installation is proposed.
4. Have sufficient Roof area as mandated by MNRE from time to time.
5.Latest Electricity Bill
3.MarginMinimum 10% of the Project Cost
4.Interest RateROI at Repo + 0.50% i.e. 7%
5.TenorMaximum 120 months (including moratorium);  No Minimum period
(No pre-payment penalty)
6.SecurityHypothecation of Assets
7.Processing FeesNIL
8.Subsidy1. 1 – 2 KW – Rs. 30000 to Rs.60000
2. 2 – 3 KW – Rs. 60000 to Rs.78000
To be Claimed by Borrower (Loan Account Number to be provided for credit of Subsidy Amount in the LoanAccount)
9.NetAnnual IncomeNo such Requirement 
10.Moratorium3 – 6 Months from the date of Disbursement
11.DisbursementPayment to be made directly to Vendor / EPC contract holder after installation. Branch will issue supply order to the Vendor/ EPC contractor with a condition that the payment will be released only after installation and getting a satisfaction letter from the borrower/s.
Disbursement to be made directly to the Vendor / EPC Contractor after installation submission of all the required feasibility reports as mandated by MNRE.



Disbursement of Loan Amount + Borrower’s Margin
(Subsidy to be claimed by Borrower / Vendor quoting the Loan Account Number)
12.Other CovenantsAll applications will be sourced through Jan Samarth Portal Only Available for Self- Sourced Journey as well as assisted journey.
13.InsuranceRoof Top Solar equipment should be insured by the borrower with usual bank clause.
Total insurance should be at-least 110% of the loan amount.
14.In-Principle OfferDigital In-Principle Sanction to be given based on Self Declaration by the Applicant. Final Sanction to be based on verification of relevant documents and assessment by the respective Banks.

Pm Surya Ghar Loan Between (4KWto10KW)-

S.No.ParameterEligibilityConditions (4KW to 10 KW)
1.Purpose and Loan amountInstallation of Solar Roof Top more than 4 KW and up-to 10 KW
Maximum Loan Amount: 6 lacs
1 a.ProjectCost AssumptionMaximum Loan Amount assuming cost of Installation @ Rs. 70000 per KW. (approximately)
2.Eligibility1. All Individual Applicants
2. Applicant having minimum CIBIL Score of 700 & above (NTC also eligible)
3. Have Roof Top Rights on which the installation is proposed.
4. Have sufficient Roof area as mandated by MNRE from time to time.
5. Latest Electricity Bill
3.MarginMinimum 20% of the Project Cost
4.Interest RateROI as per RBLR+0.15% i.e. 9.50%
5.TenorMaximum 120 months (including moratorium);  No Minimum period
(No pre-payment penalty)
6.SecurityHypothecation of Assets
7.Processing FeesNIL
8.SubsidyAbove 3kW – Rs. 78000To be Claimed by Borrower (Loan Account Number to be provided for credit of Subsidy Amount in the Loan Account)
9.NetAnnual IncomeNo such Requirement 
10.Moratorium3 – 6 Months from the date of Disbursement
11.DisbursementPayment to be made directly to Vendor / EPC contract holder after installation.Branch will issue supply order to the Vendor/ EPC contractor with a condition that the payment will be released only after installation and getting a satisfaction letter from the borrower/s.
Disbursement to be made directly to the Vendor / EPC Contractor after installation submission of all the required feasibility reports as mandated by MNRE.



Disbursement of Loan Amount + Borrower’s Margin
(Subsidy to be claimed by Borrower / Vendor quoting the Loan Account Number)
12.Other CovenantsAll applications will be sourced through Jan Samarth Portal Only Available for Self- Sourced Journey as well as assisted journey.
13.InsuranceRoof Top Solar equipment should be insured by the borrower with usual bank clause.
Total insurance should be at-least 110% of the loan amount.
14.In-Principle OfferDigital In-Principle Sanction to be given based on Self Declaration by the Applicant. Final Sanction to be based on verification of relevant documents and assessment by the respective Banks.

Also Read- State Wise Vendor List

Important Links👇
Solar Rooftop CalculatorClick Here
Subsidy StructureClick Here
Vendor List / DetailsClick Here
State Wise Vendor ListClick Here
RegistrationClick Here
LoginClick Here
DISCOM Portal LinkClick Here
DISCOM Contact DetailsClick Here
Bank Financing OptionsClick Here
PM Vishwakarma YojanaClick Here

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