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SBI Suryaghar Program

Solar Subsidy

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girish04061971
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211 views1 page

SBI Suryaghar Program

Solar Subsidy

Uploaded by

girish04061971
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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S.N.

Parameter Eligibility Conditions Eligibility Conditions


(Up-to 3 KW) (> 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
Age upto 65 years (loan must be closed before borrower
3 Age & Other Eligibility Conditions
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
For Home Loan customers EBLR + 0% - Effective Rate as on date
6 Interest Rate(Floating Interest Rate) EBLR - 2.15% Effective Rate as on date: 7%
– 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 Subsidy Amount – Rs. 78000
To be Claimed by Borrower from Suryaghar.gov.in (MNRE
2KW – Rs. 60000 website)(Loan Account Number to be provided for credit of
Subsidy Amount in the Loan Account)
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)
11 Net Annual Income No Requirement Minimum - Rs. 3 lacs.
12 Documents required KYC Documents. KYC Documents
Copy of Electricity Bill ITR Returns / Form-16 last 2 years.
Salary statement (6 Months)
Copy of Electricity Bill
13 Moratorium 6 Months from the date of Disbursement
Disbursement to be made directly to the Vendor / EPC
14 Disbursement Contractor after submission of all the required feasibility
reports as mandated by MNRE.
Disbursement of Loan Amount + Borrower’s Margin

All applications are to be first registered


15 Other Covenants 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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