Purpose
To provide financial support to individuals for the installation of rooftop solar power systems (up to 10 kW) in residential properties, promoting clean energy usage and reducing electricity bills.
Eligibility
- Individual or jointly with parent/spouse/earning children/earning daughter-in-law/brother/sister
- Applicant/co-applicant must own the residential property with rooftop rights with adequate rooftop for installation.
- Net annual income of ₹3.00 lakh is required to avail a loan for installing a rooftop solar system above 3 kW.
- Latest electricity bill/payment receipt required to confirm ownership.
- No prior subsidy availed for solar panel installation.
- Applicant’s age: 21–65 years.
- In case of co-borrowers, at least one must be below 65 years.
Limit and Margin
For systems up to 3 kW:
- Maximum Loan Amount: ₹2.00 lakh
- Margin (Borrower's Contribution): Minimum 10% of project cost
For systems above 3 kW and up to 10 kW:
- Maximum Loan Amount: ₹6.00 lakh
- Margin (Borrower's Contribution): Minimum 20% of project cost
Repayment
Loan repayment tenure is up to 10 years or until the borrower turns 70, with a maximum 3-month moratorium
Rate of Interest
- Upto 3KW: 8.75%
- Above 3KW: 9.75%
Charges
No Processing Charges. For Service Charges, please Click here
