Different Loans/Financing Schemes available for Rooftop Solar*

Website links for loan Contact Details

S.No Company Name Who can avail the loan Salient Features
schemes Phone Number Email id
Loans Schemes for Residential Rooftop Consumers
•Loan upto 65 times of gross
monthly income or 90% of total cost
•No processing fee
•No pre-payment/ preclosure
Delhi Cooperative charges http://www.dchfcdelhi.nic
[email protected] /
1 Housing Finance Individuals .in/pdf/citizen-charter-01- 011 – 26491111
[email protected]
Corporation Limited •Rate of interest between 8.25% to 10-19.pdf
9%. 0.25% discount for government
employees
•repayment period upto 20 years

•Loan up to 60% of the project cost

•7 years repayment period
•Interested rate - BBR + 1.5%
•Processing fee Nil upto 0.25 Lacs
and 0.25% of loan amount for loan
Restricted to individuals / joint amount exceeding 0.25 Lacs https://www.suryashakti.
2 IDBI individuals without any over dues Collateral biz/FinanceIDBISuryaSh [email protected]
with any other Institution / Bank •Hypothecation of assets created akti.pdf
out of bank loan
•Personal Guarantee (other than
family member

•Loan amount upto 25 Lacs

•Repayment period upto 5 years https://www.solarbylumin
YES Bank - Salaried and Self-Employed
3 •Loan type Unsecured ous.com/easy-emi/yes-
Luminous individuals
Processing fee of 1% of the total bank
value
 •Total amount upto 50 lacs
•New and existing Individual salaried •Amount upto 40 times of gross
customers salary
•Industrial & Commercial •rate of interest - 10% p.a.
https://www.saraswatban
organizations / Proprietorship / •Processing fee of 0.1% of loan
Saraswat k.com/product- corporatecenter@saraswatba
4 Partnership firms / Private Limited amount [+91] (022) 6600 5555
Cooperative Bank details.aspx?id=Solar_Urj nk.com
companies •7 years repayment period
a_Loan
•Educational Institutions / Hospital & Collateral
Medical facilities / Hotels and Resort •Upto 10 Lacs - Nil, Above 10 Lacs -
25% of loan amount

•Self Employed
oInformal Income / Cash Income
•Total amount upto 70% of the
Earners
project cost
oFormal Income Earners https://www.metafin.in/
Collateral free loan
•Salaried and Pension Income
Metafin Cleantech •No cost EMI option available (upto
5 Earners https://www.solarbylumin 022-2493 8120 [email protected]
Finance P Ltd., 6 months)
•Partnership Firm ous.com/easy-
•Processing fee 1-2% of project
•Private Ltd Company emi/metafin
cost + GST
•Housing Society
•Trusts/Schools/Hospitals

•80% of the project cost upto 10

Lacs
Individual Housing Loan borrowers https://canarabank.com/
•Processing fee of 0.50% of the 1800 425 0018 / 1800 103
as per Housing Finance Scheme User_page.aspx?menule
6 Canara Bank total cost 0018 / 1800 208 3333 / 1800
who are having free rooftop to install vel=1&menuid=3&CatID=
Collateral 3011 3333
the Solar Equipments 32
Hypothecation of assets created out
of loan or mortgage of House
Resident Indian Citizens and Non –
resident Indians (NRIs) as eligible 1800 22 22 44 / 1800 208
7 Union Bank of India
under Home Loan scheme upto 10 2244
kW
https://www.itsmysun.co
•Loans with zero downpayment m/solar-finance-
Consumers and Developers -
8 MySun •3 years tenure residential-commercial- 8448380218 [email protected]
Commercial, Industrial & Retail
•No collateral required industrial/#finance-form-
section
•70-75% of project cost
Commercial and Industrial
•Interest rate: 11-14% p.a.
Consumers and https://www.ecosoch.co (+91) 8123410101 & 080-
9 EcoSoch •Loan tenure: 5 years [email protected]
Residential Consumers m/finance/ 41677484
No collateral required for loans upto
20 Lacs
 •Loan amount upto 85% of the
project cost
Individual beneficiaries who are the
•Rate of interest 12% half yearly https://www.ttcoopbank.i [email protected]
Tarn Taran Central members of the Primary Coop. Agri.
10 •Processing fee 0.50% of project n/sehkari-green-energy- 01852 - 503598 [email protected]
Cooperative Bank Service Society and not more than
cost loan.html
55 years old
•Repayment period 5 years
•150% collateral if Loan>1 Lac
Loans Schemes for Rooftop Consumers other than Residential
•Upto 75% of the project cost
•Rate of interest MCLR+120 to 190
https://sbi.co.in/documen
bps
•Commercial & Industrial Entities ts/16012/13986967/1309
Collateral
including MSMEs 21- [email protected]
1 State Bank of India •Exclusive charge of all fixed assets,
•Renewable Energy Service SBI_WORLD_BANK+G rg
movable assets, lease right, cash
Companies-RESCOs CRSPV+Brief_August+2
flows, etc
021.pdf
•The bank may seek Collateral if
FACR is below 1.10
•Loan amount from 10 Lacs to upto
350 Lacs
https://sidbi.in/en/product
2 SIDBI •5 years tenure 1800226753 [email protected]
s
•Rate of interest - MCLR based
interest rate as per internal rating
•Loan amount upto 75% of project
cost
•Rapyment period of 15 years
Collateral https://www.indianbank.i
All MSMEs, Mid Corporate & Large https://www.indianbank.in/de
3 Indian Bank •Asset purchased out of loan n/departments/ind-surya- 1800 4250 0000
Corporates partments/quick-contact/#!
•Property on which the plant is shakti/#!
erected
•Personal guarantee of
partner/director
•Developers
•Asset Owners
•Original Equipment Manufacturers 91.11.410.706.29 / [email protected] /
4 cKers Finance https://ckersfinance.in/
or System Integrators operating in +91.801.022.9404 [email protected]
the Sustainability space
 Professionals / Coaching Classes –
Owned / Channel Partners / Dealers
/ End Customer (C&I Segment) /
MSME Customers - Sole
Landline number:020-
proprietorships, partnership firms
•Loan amount upto 75% of the 67290700
Electronica Finance (also LLP), Ltd., Pvt. Ltd. firms / https://www.efl.co.in/rooft
5 project cost Toll free number: 1800-233- [email protected]
Limited Salaried Persons / Cooperative op-solar-loan/
•4 years repayment period 9718
Housing Societies, Stand-alone
bungalows, Row houses, villas etc.
(all customers looking for rooftop
installations for their own captive
usage)
Industrial consumers, MSME’s and
Farmers Individuals / HUF / 1800 425 1444 (Toll free) /
•Loan amount upto 10 Lacs https://karnatakabank.co
Karnataka Bank Farmers / Traders / Businessmen/ 1800 572 8031 (Toll free)
6 •Rate of Interest of 11.76% p.a. m/personal/loans/ravi- [email protected]
Limited Proprietorship concerns/ / 080-2202 1500
kiran
Professionals/ Salaried persons/
Institution etc.
Industrial consumers, MSME’s and
Farmers Individuals / HUF / 1800 425 1444 (Toll free) /
Shivalik Small Farmers / Traders / Businessmen/ 1800 572 8031 (Toll free)
7 [email protected]
Finance Bank Proprietorship concerns/ / 080-2202 1500
Professionals/ Salaried persons/
Institution etc.
Strong Credit Worthy
Borrower/Borrower group with
Tata Cleantech
8 established track record of 9029001827 / 9987270919 [email protected]
Capital Limited
developing and operating the solar
rooftop projects

Disclaimer: The financing/loan schemes mentioned here are based on information collected
from different sources. The end consumers/beneficiaries willing to avail the benefit of such
financing schemes are advised to contact the concerned bank officials to get updated details
and conduct their own due diligence before availing loan facility.