PM Surya Ghar Loan for Solar Roof Top SBI | iiQ8 Details about SBI Loan on Solar

By Avatar of iiQ8 Jobs, News July 14, 2024
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PM Surya Ghar Loan for Solar Roof Top SBI

 

 

Dear All, here are the details about PM Surya Ghar Loan for Solar Roof Top SBI .

 

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.
4. PAN PAN optional for CIBIL PAN mandatory
5. Margin Minimum 10% of the Project Cost Minimum 20% of the Project Cost
6. Interest Rate(Floating Interest Rate) EBLR – 2.15% Effective Rate as on date: 7% For Home Loan customers EBLR + 0% – Effective Rate as on date – 9.15%
For Non-Home Loan CustomersEBLR + 1% – Effective Rate as on date – 10.15%
7. Tenor Maximum 120 months (inclusive of Moratorium period)
No Minimum period
(No pre-payment penalty)
8. Security Hypothecation of Assets
9. Processing Fees 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 Bill
  • 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
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
15. Other Covenants
  • All applications are to be first registered at https://pmsuryaghar.gov.in and after successful registration, loan is to be applied through https://www.jansamarth.in
  • Available for Self-Sourced Journey as well as assisted journey.
  • Insurance of Assets financed through Bank Loan NOT mandatory for Roof Top Solar capacity between 1 KW to 3 KW.
  • Asset to be insured for the total cost of installation for capacity more than 3 KW. Cost of the insurance to be borne by the customer.
16. Link for loan application To apply register at https://pmsuryaghar.gov.in

After successful registration, please apply at https://www.jansamarth.in

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PM Surya Ghar Loan for Solar Roof Top SBI

 

Hon’ble Prime Minister of India, Shri Narendra Modi launched the National Portal for Rooftop Solar on 30/07/2022 . Shri R. K. Singh, Union Minister for Power and NRE and Shri Krishan Pal Gurjar, MoS, Power and Heavy Industries were present. Shri Bhagwanth Khuba, MoS, MNRE joined virtually.

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PM Surya Ghar Loan for Solar Roof Top SBI

 

PM – Surya Ghar: Muft Bijli Yojana Subsidy for residential households
Rs. 30,000/- per kW up to 2 kW
Rs. 18,000/- per kW for additional capacity up to 3 kW
Total Subsidy for systems larger than 3 kW capped at Rs 78,000
Suitable Rooftop Solar Plant Capacity for households
Average Monthly
Electricity
Consumption (units)
Suitable Rooftop Solar Plant
Capacity
0-150 1 – 2 kW
150-300 2 – 3 kW
>300 Above 3 kW
Subsidy for Group Housing Society/ Resident Welfare Association
(GHS/RWA)

Rs. 18,000 per kW for common facilities, including EV charging, up to 500 kW capacity (@3 kW per house) with the upper limit being inclusive of individual rooftop plants installed by individual residents in the GHS/RWA Online Applications may be submitted on the National Portal at  https://pmsuryaghar.gov.in
Note: For detailed information, scheme guidelines may be referred.

 

PM Surya Ghar Loan for Solar Roof Top SBI




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Image PM Surya Ghar Loan for Solar Roof Top SBI

PM Surya Ghar Loan for Solar Roof Top SBI

 

Sunbeams delivered! Your sustainable energy future starts now. Sign up for PM – Surya Ghar: Muft Bijli Yojana. For more information,visit:pmsuryaghar.gov.in #PMSuryaGhar #MuftBijliYojana #SolarPower #FreeElectricity #AatmanirbharBharat

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