PURPOSE : For installation of Solar rooftop on properties located in our area of operational districts only
- Applicant should be resident Indian.
- All individuals who are having own house with a roof that is suitable for installing solar panels.
- Singly or Jointly with other eligible family members.
- All existing home loan applicants/co-applicants must join as applicants/co-applicants to avail the new loan.
- All the proposed Co-owners of the property for which loan is being applied, have to necessarily join as applicant/(s) to the loan in case property is taken as collateral security.
- Existing home loan borrowers of our Bank whose loans have been regular for the past 12 months.
- Applicant/(s) should have sufficient area for installation as mandated by ministry of New & Renewable Energy MNRE from time to time.
- Loan is provided for installation of grid connected RTS (Roof Top Solar) for residential purpose only.
- CIBIL Score must be minimum 675.
- Loan under the scheme shall be only for individuals and not for housing societies and not for the purpose of commercial use.
- Margin 10% of project cost (as per MNRE approved dealer)
- Minimum Rs 25,000/- and Maximum Loan Amount Rs 6.00 Lakhs.
- To be claimed by borrower, subject to eligibility of borrower/ project guidelines and criteria as per government scheme provided for credit of subsidy amount.
- Maximum repayment term is 10 yrs.
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