Explore SBI Surya Ghar, a dedicated loan offering for installing solar rooftops, complete with an attractive subsidy of Rs 78,000. Transition to green energy with ease and financial support from SBI. In a major step towards promoting sustainable energy, the State Bank of India (SBI) has introduced the SBI Surya Ghar loan, specifically designed to encourage homeowners to adopt solar energy by installing rooftop solar panels. This initiative not only aligns with global sustainability goals but also makes solar power more accessible to the general public through financial support.
The SBI Surya Ghar loan offers a significant subsidy of Rs 78,000, reducing the financial burden on households wishing to make the switch to renewable energy. This subsidy makes the installation of solar rooftops more affordable and appealing, providing long-term benefits such as reduced electricity bills and lower carbon footprints.
By opting for the SBI Surya Ghar loan, homeowners can contribute to a greener planet while enjoying the perks of modern, cost-effective technology. The process is streamlined to ensure that more families can easily access this opportunity, making it a practical solution for energy needs today and in the future. Embrace the power of solar with SBI and transform your home with clean, efficient, and renewable energy today.
| 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 ApplicantsApplicant 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. 300002KW – Rs. 600003KW – Rs. 78000To 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 DocumentsITR 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 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. | |
To apply register at https://pmsuryaghar.gov.in
After successful registration, please apply at https://www.jansamarth.in
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