SBI Surya Ghar Scheme For Solar Rooftop Financing: The Indian government has begun the process of lending money to homeowners who wish to install solar panels on their rooftops but lack the necessary funds, as promised. More than 20 banks and financial organizations have begun the loan application process for these individuals.
We are going to provide you with all the information regarding the amount of loan that the renowned Indian bank, State Bank of India, or SBI, will grant you under the Surya Ghar Yojana for rooftop solar panels. How many payments in installments are required? What is the interest rate going to be and how can I apply for an SBI solar panel loan? etc.
Thus, let us now go into SBI Loan for Rooftop Solar under PM Surya Ghar Muft Bijli Yojana in more detail.
About SBI Surya Ghar Scheme
On February 29, the Prime Minister’s cabinet authorized this initiative. Prior to this, Union Minister Anurag Thakur had declared that the bank would lend money at low interest rates to those in need of solar panel installation. As a result, the State Bank of India, or SBI, has recently provided information regarding the laws and various loan options for solar systems ranging from 1 to 3 KW and 3 to 10 KW. which this post has informed you of.
| Name of the Scheme | SBI Surya Ghar Scheme |
| Main Scheme | PM Surya Ghar Muft Bijli Yojana |
| Started By | PM Narendra Modi |
| Official Website | https://pmsuryaghar.gov.in |
| Category | PM Scheme |
| Benefits | Get the Solar Rooftop panel with Subsidy |
| Join For the Latest Updates | Click here |
SBI Surya Ghar Scheme – SBI Solar Loan Amount
Two distinct loan categories have been offered by SBI Bank for the installation of solar panels. In which case SBI will provide you a maximum loan of Rs 2 lakh if you install solar panels with a maximum capacity of 3 kW (Maximum Loan Amount is Rs 2 Lakh). In addition, SBI Bank would grant you a maximum loan of Rs 6 lakh if you wish to put 3 to 10 kW of solar panels on the roof of your home.
SBI Surya Ghar Scheme – SBI Solar Loan Installments
Whether you want to borrow money for a 3 kW or 10 kW solar system, you will need to pay back the full amount over the course of 120 months, or 120 installments, if you take out a loan from SBI Bank. You won’t be assessed any penalties if you pay back your loan even earlier. In other words, you can pay back the loan ahead of schedule.
SBI Surya Ghar Scheme – SBI Solar Loan Interest Rate
Installing solar panels on your house now entitles you to a loan with an interest rate as low as 7.0%. However, you will incur a higher interest rate if you install solar panels for a business. Their complete details are available in the table below.
- Up to 3 KW (for Home)- EBLR -2.15% and Interest Rate 7%
- 3 to 10 KW (for Home)- EBLR 0% and Interest Rate 9.15%
- 3 to 10 KW (for Non-Home)- EBLR +1% and Interest Rate 10.15%
SBI Surya Ghar Scheme Eligibility
It is imperative that you bear in mind the following points if you wish to apply for an SBI solar rooftop loan.
- The candidate must be between the ages range of 18 and below 65 years.
- The applicant’s CIBIL score needs to be at least 680.
- A house in his name must belong to the applicant. Under this plan, loans will not be granted to rent-paying individuals.
- The house’s roof needs to have enough room for solar panels to be put in.
- The only source of funding for the applicant is his savings account.
- The most recent electricity bill is required for the applicant.
- No bank should have previously declared the applicant in default.
SBI Surya Ghar Scheme Documents Required
Some Documents needed for this SBI Surya Ghar Scheme For Solar Rooftop Financing:
- A copy of any single power bill from the last six months
- The Aadhar card
- Full bank account information
- Mobile number, among other things.
How to apply for the SBI Surya Ghar Scheme Online?
I would like to inform you that you must visit the Jan Samarth Portal, which was established by the Indian government, in order to apply for a solar loan under the Surya Ghar Yojana from any bank. Wherever you go, you can apply for a solar loan from any bank. Read the full instructions below for further details and then apply.
- Visit the Jan Samarth Portal first.
- You now need to select the “Renewable Energy” option under the Schemes option.
- You will now see a message on your screen stating that you must complete the pmsuryaghar.gov.in Registration process before submitting an application for a loan.
- You then need to select the “Apply Now” option.
- You now need to create an account on the Jan Samarth Portal.
- You will find it easy to apply for a loan after registering.
- Your screen will appear with an application form; fill it out thoroughly and then select the “Submit” button.
- This makes obtaining a loan from SBI to install solar panels under the PM Surya Ghar Yojana simple.
Contact Details:
| Name: Pankaj Ku. Sinha | Email ID: dgmecom.pbbu@sbi.co.in | Contact No.: +91 76000 40400 |
| Name: Sanjay Ghosh | Email ID: dgmre.pd@sbi.co.in | Contact No.: +91 76329 96090 |
In Summary
After reading this post through to the end, friends, you now know how much loan you will receive from SBI for solar panels under the PM Surya Ghar Free Electricity Scheme, as well as how to apply, when to repay, and other details. You can also call the above-mentioned phone number if you are still having issues. Join our WhatsApp group and bookmark our website, PM Surya Ghar, to receive such information first.
