PM Surya Ghar Muft Bijli Yojana Roof Top Solar Loan Scheme
PM–Surya Ghar: Muft Bijli Yojana Roof Top Solar Loan Scheme
| S.N. | Parameter | Eligibility Conditions
(Up-to 3KW) |
Eligibility Conditions
(Above 3 KW to 10 KW) |
| 1 | Loan amount | Maximum Loan Amount: 2.00 lacs | Maximum Loan Amount: 6.00 lacs |
| 1 a. | Project Cost Assumption | Maximum Loan Amount assuming cost of Installation @ Rs. 70000 per KW. (approximately) | |
| 2. | Eligibility | 1. All Individual Applicants
2. Applicant having CIBIL Score of 680 & above (NTC also eligible) 3. Have Roof Top Rights on which the installation is proposed. 4. Have sufficient Roof area as mandated by MNRE from time to time. 5. Latest Electricity Bill in the name of applicant. |
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| 2.a. | Age | As per HL Scheme. | |
| 3. | Margin | Minimum 10% of the Project Cost | Minimum 20% of the Project Cost |
| 4. | Interest Rate | Loan amount is capped at Rs.2.00 lakh instead of linking the same to 3 Kw capacity for considering ROI (Repo + 0.50%) | For Home Loan customers
(Same rate as Home Loan) For Non-Home Loan Customers (Home Loan ROI + 100 bps) |
| 5. | Tenor | Maximum 120 months (Inclusive of Moratorium Period)
No Minimum period (No pre-payment penalty) |
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| 6. | Security | Hypothecation of Assets | |
| 7. | Processing Fees | NIL | |
| 8. | Subsidy | i. 1KW – Rs. 30,000
ii. 2KW – Rs. 60,000 iii. 3KW – Rs. 78,000 |
Subsidy Amount – Rs. 78000
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| 1) To be Claimed by Borrower. Borrower to apply for subsidy by providing loan account for credit of subsidy amount in respective Loan account.
2) In case the subsidy is received in other than loan account, suitable undertaking in the matter is to be obtained from the borrower that he/she will deposit the same in loan account. 3) EMI to be revised once subsidy is credited in loan account. 4) Extant guidelines of Central/State Govt. subsidy scheme are to be complied with. |
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| 9. | Net Annual Income | No Requirement | Minimum – Rs. 3 lacs |
| 10. | Moratorium | 6 Months from the date of Disbursement | |
| 11. | Disbursement | Disbursement to be made directly to the Vendor / EPC Contractor after submission of all the required feasibility reports as mandated by MNRE.
Disbursement of Loan Amount + Borrower’s Margin (Subsidy to be claimed by Borrower / Vendor quoting the Loan Account Number) |
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| 12. | Other Covenants |
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| 13. | In-Principle Offer | Digital In-Principle Sanction to be given based on Self Declaration by the Applicant. Final Sanction to be based on verification of relevant documents and assessment. | |
| 14. | Lead Generation | To apply register at https://pmsuryaghar.gov.in
After successful registration, please apply at https://www.jansamarth.in |
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| 15. | Other Condition |
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