Financing Option

S.No.	Item	Eligibility Criteria (Loan Amount up to ₹2 lakh)	Eligibility Conditions (Loan Amount more than ₹2 lakh)
1	Objective	Solar Rooftop Installation	Solar Rooftop Installation
2	Loan Amount	Maximum loan amount ₹2 Lakh	Maximum loan amount ₹6 Lakh
3	Age and Other Eligibility Conditions	Age up to 65 years (repayment before 70 years) All individual applicants CIBIL score of 680+ or New to Credit (NTC) also eligible Discom Consumer number required only for validation Adequate rooftop area as per MNRE guidelines Savings account mandatory with the bank
4	PAN	Not Required	PAN is mandatory
5	Margin	Minimum 10% of project cost by Borrower	Minimum 20% of project cost by Borrower
6	Interest Rate (Floating)	RBI Repo rate + 0.50% Rate of Interest @6.00% p.a. (as on date)	For Home Loan customers – Same rate as Home Loan For Non-Home Loan customers – Home Loan RoI + 100 bps
7	Duration	Maximum 120 months (including moratorium period) No minimum period No prepayment charges
8	Securities	Hypothecation of rooftop solar equipment created out of Bank Finance
9	Processing Fee	Zero
10	Financial Assistance (Subsidy)	₹30,000 (1kW) ₹60,000 (2kW) ₹78,000 (3kW) Claim to be made by borrower on PM Surya Ghar Portal	Subsidy Amount – ₹78,000 Claim to be made on PM Surya Ghar Portal
11	Net Annual Income	Not required	Minimum ₹3 lakh
12	Required Documents	Aadhaar Number	KYC documents ITR Returns/Form-16 (last 2 years) 6 months salary statement Copy of electricity bill
13	Moratorium Period	6 months from the date of disbursement. (Moratorium Period is the time during which the borrower is not required to make any loan repayment after the loan is disbursed by the Bank.)
14	Disbursement	Disbursement of loan will be made to Vendor in two tranches.
15	Other Covenants	Application can be done by yourself or with assistance No mandatory insurance for loan up to 3kW For loans above 3kW – insurance required (cost borne by customer) If applicant is 65+ years, co-borrower (spouse/children) allowed
16	Link for Loan Application	Application for loan to be initiated via PM Surya Ghar Portal