Eligibility

All Individuals satisfying 50% take home pay norms

Institutions like Educational Institutions, Hospitals, Hotels/Restaurants etc.

Quantum of Loan

Minimum of Rs 30,000/-

Maximum of Rs 10.00 Lakhs

(85% on the project cost which includes cost of the system, accessories, transportation & installation)

Minimum amount of Rs 1.00 Lac

Maximum of Rs 10.00 Lacs i.e.

(80% on the project cost which includes cost of the system, accessories, transportation & installation)

Interest Rate

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Security

Loan up to Rs 1 lac

Hypothecation of Solar Energy Equipment's (financed by Bank) along with third Party Guarantee.

Loan above Rs 1 Lac

100% Collateral security Like Mortgage of land /House/flat, Security in the form of LIC policy/ NSC/ Term Deposits, etc. (third Party Guarantee is not to be insisted as the loan is secured by 100% collateral for loan above Rs. 1 Lac)

Margin

15%

20%

Repayment Period

Maximum up to 5 years without holiday period.