IND-SURYA SHAKTI
IND-SURYA SHAKTI
| Particulars | Guidelines |
| Target Group | All MSMEs, Mid Corporate & Large Corporates. |
| Purpose | Setting up solar power plants for captive consumption.
Solar power plants should be in accordance with the technical standards issued by MNRE and / or Central Electricity Authority Both Onsite and Off-site Solar projects can be considered for MSME Borrowers under the scheme. While funding for offsite projects, following conditions to be complied. For existing Customers enjoying credit facilities with our Bank:
In addition to above guidelines, for units not financed by our Bank and customer proposes to avail standalone credit facility under the scheme for offsite project, minimum 50% security by way of immovable properties / liquid securities to be ensured.
|
| Types of Facility | Term Loan |
| Loan Amount | No Ceiling |
| Margin (Promoter’s contribution) | 25% on the cost of the equipments & erection charges |
| Security | · Primary Security: Assets purchased out of loan
· Collateral Security: EM of property on which solar plant is erected. If the property is mortgaged with other banks / FIs, NOC only to be obtained from the respective Banks / FIs. · Personal Guarantee: Partner / directors to be obtained. |
| Repayment terms | Repayment Period : Door to Door Tenor: 15 years
Moratorium Period: Roof Top Solar : Maximum 6 months Others : Maximum 12 months
Interest to be serviced during holiday period. |
| Processing & other charges | All Charges at Card Rate |
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