PM-Surya Ghar Yojana -Standalone

• Up to 90% financing
• ROI starting from 7.00% *
• Subsidy up to Rs.78,000 is available as per the Ministry of Renewal and New Energy, Govt. of India guidelines
• No Foreclosure Charges
• Floating & Fixed Rate of Interest option available
• No income document required for unit capacity up to 3 KW

• Resident Individuals (singly or jointly) Salaried or having Income from Business / Profession/Agriculture are eligible for "PM SURYAGHAR YOJANA- Standalone”.
• Minimum age:21 years
• Maximum age: Up to Retirement age(for Salaried Individuals) and 65 Years (for Non-Salaried Individuals)
• Attractive Rate of interest:

Unit Capacity up to 3 KW	Unit Capacity more than 3 KW & up to 10 KW
Under Floating: BRLLR-2.15% i.e. 7.00 % at present Fixed option : 1 Year MCLR-1.80 % i.e. 7.00% at present (Fixed rate option is subject to resetting of ROI once in  three years as decided by the Bank)	Under floating & fixed rate option: For existing Home Loan Customer: As applicable in home loan scheme (card rate.) For Non- Home Loan Customer: Home Loan ROI (Card rate) +100 bps No loan should allowed to CIBIL Score below 680 (Fixed rate option is subject to resetting of ROI once in three years as decided by the Bank)

• Maximum Tenure: 120 Months.

Eligibility Criteria:

• Resident Individuals (singly or jointly) Salaried or having Income from Business / Profession/Agriculture
• The Resident Individuals should have Residential property in his/her name or Terrace right in his/her name if residing in flat.

Purpose:

Installation of Grid connected RTS (Roof Top Solar) for residential purpose only up to capacity 10 KW

Limit:

Up to 3 KW :

Minimum Limit : No minimum limit

Maximum Limit : Rs.2.00 Lakh

More than 3 KW to 10 KW:

Minimum Limit : No minimum amount stipulated

Maximum Limit : Rs.6,00,000/-

Age:

Minimum: -21- Years

Maximum :

• For Salaried Person: Up to retirement age of the Borrower (including repayment period)
• For Non-Salaried -65- Years (Including repayment period)

Margin:

Min.10% of Project Cost

• KYC documents of applicant/co-applicants
• Salary slip for last 3 months and form no 16/ITR (in case of salaried Individuals)
• ITR for last two years (in case of Non-salaried individuals)
• Latest income certificate from the local competent revenue authority (for agriculturist)
• Bank account statement for last 6 months
• Latest Electricity Bill
• No income document required for unit capacity up to 3 KW
• Copy of Application Acknowledgment (Downloaded from MNRE portal)
• 10. Copy of feasibility approval letter issued by DISCOM
• Any other documents required by the Bank.

Up to 3 KW :

NIL

More than 3 KW to 10 KW:

0.50% of Loan amount +GST

(Subject to Min.Rs.500+GST & Max. Rs.5000+GST)

• Applicant / co-applicant/s (whose income are considered for eligibility) should be employed / engaged in business / profession for a minimum period of -1- year for salaried and/or -2- years (for non-salaried). This condition is not applicable for solar unit with capacity up to 3 KW.
• In case of Agriculturists who are predominantly dependent on agriculture and not required to file income tax returns, the latest income certificate from the local competent revenue authority is required. This condition is not applicable for solar unit with capacity up to 3 KW.
• The scheme would remain limited to household rooftop projects only. Any industrial, commercial and other consumers or government and semi government organizations will not be eligible for the loan scheme
• Quotation for Solar system is to be purchased should be issued by DISCOM empanelled vendors only.