Features

S.N.

Parameter

Eligibility Conditions
(Up-to 3 KW)

Eligibility Conditions
(> 3 KW to 10 KW)

1

Purpose

Installation of Solar Roof Top Upto 3 KW

Installation of Solar Roof Top more than 3 KW and upto 10 KW

2

Loan Amount

Maximum Loan Amount Rs. 2 lacs

Maximum Loan Amount Rs. 6 lacs

3

Age & Other Eligibility Conditions

• Age upto 65 years (loan must be closed before borrower reaches 70 years of age)
• All Individual Applicants
• Applicant having CIBIL Score of 680 & above (NTC also eligible)
• Have Roof Top Rights on which the installation is proposed.
• Have sufficient Roof area as mandated by MNRE from time to time.
• Latest Electricity Bill.
• Savings Account mandatory.

• Age upto 65 years (loan must be closed before borrower reaches 70 years of age)
• All Individual Applicants
• Applicant having CIBIL Score of 680 & above (NTC also eligible)
• Have Roof Top Rights on which the installation is proposed.
• Have sufficient Roof area as mandated by MNRE from time to time.
• Latest Electricity Bill.
• Savings Account mandatory.

4

PAN

PAN optional for CIBIL

PAN mandatory

5

Margin

Minimum 10% of the Project Cost

Minimum 20% of the Project Cost

6

nterest Rate(Floating Interest Rate)

EBLR - 2.15% Effective Rate as on date: 6.75%

 EBLR + 0% - Effective Rate as on date – 8.90%

7

Tenor

Maximum 120 months (inclusive of Moratorium period)
No Minimum period
(No pre-payment penalty)

Maximum 120 months (inclusive of Moratorium period)
No Minimum period
(No pre-payment penalty)

8

Security

Hypothecation of Assets

Hypothecation of Assets

9

Processing Fees

NIL

NIL

10

Subsidy

• 1KW – Rs. 30000
• 2KW – Rs. 60000
• 3KW – Rs. 78000
• To be Claimed by Borrower from Suryaghar.gov.in (MNRE website)(Loan Account Number to be provided for credit of Subsidy Amount in the Loan Account)

Subsidy Amount – Rs. 78000
To be Claimed by Borrower from Suryaghar.gov.in (MNRE website)(Loan Account Number to be provided for credit of Subsidy Amount in the Loan Account)

11

Net Annual Income

No Requirement

Minimum - Rs. 3 lacs.

12

Documents required

• KYC Documents.
• Copy of Electricity Bil

• KYC Documents
• ITR Returns / Form-16 last 2 years.
• Salary statement (6 Months)
• Copy of Electricity Bill

13

Moratorium

6 Months from the date of Disbursement

6 Months from the date of Disbursement

14

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

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

15