Financing From PSU Banks



To support PM Suryaghar, the biggest PSU Banks are offering some of the most attractive solar loans for residential projects.
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. 2,76,525/- Rs. 1,29,275/- Rs. 76,525/- Rs. 52,750/- Rs. 865/-
4.32 KW Rs. 3,08,877/- Rs. 1,38,677/- Rs. 1,08,877/- Rs. 29,800/- Rs. 489/-
5.4 KW Rs. 3,41,883/- Rs. 1,47,383/- Rs. 1,41,883/- Rs. 5,500/- Rs. 90/-
6.48 KW Rs. 4,04,661/- Rs. 1,74,161/- Rs. 2,04,661/- --- ---
7.02 KW Rs. 4,21,334/- Rs. 1,90,384/- Rs. 2,21,334/- --- ---
7.56 KW Rs. 4,44,805/- Rs. 1,91,805/- Rs. 2,44,805/- --- ---
8.1 KW Rs. 4,59,556/- Rs. 2,04,306/- Rs. 2,59,556/- --- ---
9.72 KW Rs. 5,10,330/- Rs. 2,12,330/- Rs. 3,10,330/- --- ---
*EMIs over 10 years. Interest calculated as 7% Rate of Annual Compound Interest over 10 years

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. 2,76,525/- Rs. 2,21,220/- Rs. 1,29,275/- Rs. 55,305/- Rs. 73,970/- Rs. 1,528/-
4.32 KW Rs. 3,08,877/- Rs. 2,47,102/- Rs. 1,38,677/- Rs. 61,775/- Rs. 76,902/- Rs. 1,588/-
5.4 KW Rs. 3,41,883/- Rs. 2,73,506/- Rs. 1,47,383/- Rs. 68,377/- Rs. 79,006/- Rs. 1,632/-
6.48 KW Rs. 4,04,661/- Rs. 3,23,729/- Rs. 1,74,161/- Rs. 80,932/- Rs. 93,229/- Rs. 1,925/-
7.02 KW Rs. 4,21,334/- Rs. 3,37,067/- Rs. 1,90,384/- Rs. 84,267/- Rs. 1,06,117/- Rs. 2,192/-
7.56 KW Rs. 4,44,805/- Rs. 3,55,844/- Rs. 1,91,805/- Rs. 88,961/- Rs. 1,02,844/- Rs. 2,124/-
8.1 KW Rs. 4,59,556/- Rs. 3,67,645/- Rs. 2,04,306/- Rs. 91,911/- Rs. 1,12,395/- Rs. 2,321/-
9.72 KW Rs. 5,10,330/- Rs. 4,08,264/- Rs. 2,12,330/- Rs. 1,02,066/- Rs. 1,10,264/- Rs. 2,277/-
*EMIs over 10 years. Interest calculated at 9.5% Annual Compound Interest over 10 years.