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 Indian Bank {PM–Surya Ghar: Muft Bijli Yojana Roof Top Solar Loan Scheme}-
PM Surya Ghar Loan upto 3KW-
| S.N. | Parameter | Eligibility Conditions(Up-to 3KW) | |
| 1 | Purpose and Loan amount | Installation of Solar Roof Top Upto 3 KW Maximum Loan Amount: 2.00 lacs | |
| 1 a. | Project Cost Assumption | Maximum Loan Amount assuming cost of Installation @ Rs. 70000 per KW. (approximately) | |
| 2. | Eligibility | 1. All Individual Applicants 2. Applicant having CIBIL Score of 680 & 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 in the name of applicant. | |
| 2.a. | Age | As per HL Scheme. | |
| 3. | Margin | Minimum 10% of the Project Cost | |
| 4. | Interest Rate | ROI –Repo ( at present 6.50%)+Prime Spread (2.70%) – BSD (2.20%) presently 7% | |
| 5. | Tenor | Maximum 120 months No Minimum period (No pre-payment penalty) | |
| 6. | Security | Hypothecation of Assets | |
| 7. | Processing Fees | NIL | |
| 8. | Subsidy | i. 1KW – Rs. 30,000 ii. 2KW – Rs. 60,000 iii. 3KW – Rs. 78,000 | |
| 1) To be Claimed by Borrower. Borrower to apply for subsidy by providing loan account for credit of subsidy amount in respective Loan account. 2) In case the subsidy is received in other than loan account, suitable undertaking in the matter is to be obtained from the borrower that he/she will deposit the same in loan account. 3) EMI to be revised once subsidy is credited in loan account. 4) Extant guidelines of Central/State Govt. subsidy scheme are to be complied with. | |||
| 9. | Net Annual Income | No Requirement | |
| 10. | Moratorium | 6 Months from the date of Disbursement | |
| 11. | Disbursement | Disbursement to be made directly to the Vendor / EPC Contractor after 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 Covenants | All applications will be sourced through Jan Samarth Portal Only. Available for Self-Sourced Journey as well as assisted journey. | |
| 13. | In-Principle Offer | Digital 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. | |
| 14. | Lead Generation | All Applications to be routed through Jan Samarth Portal mandatorily using URL : https://www.jansamarth.in/ → Renewable energy → Apply now | |
| 15. | Other Condition | PAN is mandatory for applicants applying under solar rooftop scheme with installation capacity above 3 KW to 10 KW. Only new equipment/machineries shall be allowed for installation and shall not be allowed to shift anywhere once installed. Bank will not be part of the claim and disbursement process of the subsidy and the same will have to be claimed by the borrower, as per the extant government guidelines in force for the same | |
PM Surya Ghar Loan(Above 3 KW to 10 KW)-
| S.N. | Parameter | Eligibility Conditions(Above 3 KW to 10 KW) | |
| 1 | Purpose and Loan amount | Installation of Solar Roof Top more than 3 KW and up-to 10 KW Maximum Loan Amount: 6.00 lacs | |
| 1 a. | Project Cost Assumption | Maximum Loan Amount assuming cost of Installation @ Rs. 70000 per KW. (approximately) | |
| 2. | Eligibility | 1. All Individual Applicants 2. Applicant having CIBIL Score of 680 & 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 in the name of applicant. | |
| 2.a. | Age | As per HL Scheme. | |
| 3. | Margin | Minimum 20% of the Project Cost | |
| 4. | Interest Rate | For Home Loan customers (Same rate as Home Loan) For Non-Home Loan Customers (Home Loan ROI + 100 bps) | |
| 5. | Tenor | Maximum 120 months No Minimum period (No pre-payment penalty) | |
| 6. | Security | Hypothecation of Assets | |
| 7. | Processing Fees | NIL | |
| 8. | Subsidy | Subsidy Amount – Rs. 78000 | |
| 1) To be Claimed by Borrower. Borrower to apply for subsidy by providing loan account for credit of subsidy amount in respective Loan account. 2) In case the subsidy is received in other than loan account, suitable undertaking in the matter is to be obtained from the borrower that he/she will deposit the same in loan account. 3) EMI to be revised once subsidy is credited in loan account. 4) Extant guidelines of Central/State Govt. subsidy scheme are to be complied with. | |||
| 9. | Net Annual Income | Minimum – Rs. 3 lacs | |
| 10. | Moratorium | 6 Months from the date of Disbursement | |
| 11. | Disbursement | Disbursement to be made directly to the Vendor / EPC Contractor after 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 Covenants | All applications will be sourced through Jan Samarth Portal Only. Available for Self-Sourced Journey as well as assisted journey. | |
| 13. | In-Principle Offer | Digital 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. | |
| 14. | Lead Generation | All Applications to be routed through Jan Samarth Portal mandatorily using URL : https://www.jansamarth.in/ → Renewable energy → Apply now | |
| 15. | Other Condition | PAN is mandatory for applicants applying under solar rooftop scheme with installation capacity above 3 KW to 10 KW. Only new equipment/machineries shall be allowed for installation and shall not be allowed to shift anywhere once installed. Bank will not be part of the claim and disbursement process of the subsidy and the same will have to be claimed by the borrower, as per the extant government guidelines in force for the same | |
Also Read-PM Surya Ghar Yojana मैं 1 करोड़ Registration हुए | आज ही करे अपना पंजीयन
This information is collected from the official bank website you should recheck the information on the official bank website. We are not responsible for further consequences.
| Important Links | 👇 |
|---|---|
| Solar Rooftop Calculator | Click Here |
| Subsidy Structure | Click Here |
| Vendor List / Details | Click Here |
| State Wise Vendor List | Click Here |
| Registration | Click Here |
| Login | Click Here |
| DISCOM Portal Link | Click Here |
| DISCOM Contact Details | Click Here |
| Bank Financing Options | Click Here |
| PM Vishwakarma Yojana | Click Here |
Surya ghar yojna chahiye mudhe