Financing From PSU Banks
To support PM Suryaghar, the biggest PSU Banks are offering some of the most attractive solar loans for residential projects.
B. Rate of interest is between 6.5% and 7%.
C. Payback period is upto 10 years.
D. Upto 80% of the cost.
B. Rate of interest is between 8.5% and 9.5%.
C. Payback period is upto 10 years.
D. Upto 80% of the cost.
Loans Upto Rs. 2 Lakhs
A. These loans have minimal qualifications and require no income proof or CIBIL score checks.B. Rate of interest is between 6.5% and 7%.
C. Payback period is upto 10 years.
D. Upto 80% of the cost.
Loans More than Rs. 2 Lakhs
A. These loans need income proof and CIBIL score checks.B. Rate of interest is between 8.5% and 9.5%.
C. Payback period is upto 10 years.
D. Upto 80% of the cost.
Calculations for Rs. 2 Lakhs Loan for 10 Years Term, 7% Rate of Interest
| Plant Size (A) |
Total Plant Cost (B) |
Cost After Subsidy (C) |
Upfront Cost to Customer (D) (Total(B) - Rs. 2,00,000/-) |
Effective Loan (E) (C - D) |
EMI* (F) |
|---|---|---|---|---|---|
| 3.24 KW | Rs. 2,75,042/- | Rs. 1,27,792/- | Rs. 75,042/- | Rs. 52,750/- | Rs. 865/- |
| 4.32 KW | Rs. 3,07,508/- | Rs. 1,37,308/- | Rs. 1,07,508/- | Rs. 29,800/- | Rs. 489/- |
| 5.4 KW | Rs. 3,40,541/- | Rs. 1,46,041/- | Rs. 1,40,541/- | Rs. 5,500/- | Rs. 90/- |
| 6.48 KW | Rs. 4,03,457/- | Rs. 1,72,957/- | Rs. 2,03,457/- | --- | --- |
| 7.02 KW | Rs. 4,19,972/- | Rs. 1,89,022/- | Rs. 2,19,972/- | --- | --- |
| 7.56 KW | Rs. 4,51,761/- | Rs. 1,98,761/- | Rs. 2,51,761/- | --- | --- |
| 8.1 KW | Rs. 4,66,507/- | Rs. 2,11,257/- | Rs. 2,66,507/- | --- | --- |
| 9.72 KW | Rs. 5,06,262/- | Rs. 2,08,262/- | Rs. 3,06,262/- | --- | --- |
Calculations for Greater Than Rs. 2 Lakhs Loan for 10 Years Term, 9.5% Rate of Interest
| Plant Size (A) |
Total Plant Cost (B) |
Max Loan Amount (C) |
Cost After Subsidy (D) |
Upfront Cost to Customer (E) (B - C) |
Effective Loan (F) (D - E) |
EMI* (G) |
|---|---|---|---|---|---|---|
| 3.24 KW | Rs. 2,75,042/- | Rs. 2,20,034/- | Rs. 1,27,792/- | Rs. 55,008/- | Rs. 72,784/- | Rs. 1,503/- |
| 4.32 KW | Rs. 3,07,508/- | Rs. 2,46,006/- | Rs. 1,37,308/- | Rs. 61,502/- | Rs. 75,806/- | Rs. 1,566/- |
| 5.4 KW | Rs. 3,40,541/- | Rs. 2,72,433/- | Rs. 1,46,041/- | Rs. 68,108/- | Rs. 77,933/- | Rs. 1,609/- |
| 6.48 KW | Rs. 4,03,457/- | Rs. 3,22,766/- | Rs. 1,72,957/- | Rs. 80,691/- | Rs. 92,266/- | Rs. 1,905/- |
| 7.02 KW | Rs. 4,19,972/- | Rs. 3,35,978/- | Rs. 1,89,022/- | Rs. 83,994/- | Rs. 1,05,028/- | Rs. 2,169/- |
| 7.56 KW | Rs. 4,51,761/- | Rs. 3,61,409/- | Rs. 1,98,761/- | Rs. 90,352/- | Rs. 1,08,409/- | Rs. 2,239/- |
| 8.1 KW | Rs. 4,66,507/- | Rs. 3,73,206/- | Rs. 2,11,257/- | Rs. 93,301/- | Rs. 1,17,956/- | Rs. 2,436/- |
| 9.72 KW | Rs. 5,06,262/- | Rs. 4,05,010/- | Rs. 2,08,262/- | Rs. 1,01,252/- | Rs. 1,07,010/- | Rs. 2,210/- |