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SBI Surya Ghar – Loan for Solar Roof Top

SBI Surya Ghar – Loan for Solar Roof Top

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Features

Summary of the SBI Surya Ghar Loan for Solar Roof Top
S.N.
Parameter
Eligibility Conditions
(Up-to ₹2 Lac)
Eligibility Conditions
(>₹ 2 lacs and up to ₹6 lacs)
1. Purpose Installation of Solar Roof Top for Loan amounts up to ₹2 lacs Installation of Solar Roof Top for Loan amount above ₹2 lacs & up to ₹ 6 lac
2. Loan Amount Maximum Loan Amount Rs. 2 lacs Maximum Loan Amount Rs. 6 lacs
3. Age & Other Eligibility Conditions
  • Age up to 65 years (loan must be closed before borrower reaches 70 years of age)
  • Up to 75 years (with co-borrower) (maximum repayment period would be 10 years, including moratorium period but loan must be closed before co-borrower completing 75 years of age)
  • All Individual Applicants
  • CIBIL
    • Up to ₹ 2 lacs: No minimum CIBIL score
    • Above ₹ 2 lacs: Minimum 650 & above
    However, customers with default/ write-off CIBIL are not to be considered.
  • Have Roof Top Rights on which the installation is proposed.
  • Have sufficient Roof area as mandated by MNRE from time to time.
  • Latest Electricity Bill.
  • Savings Account mandatory.
4. PAN PAN optional for CIBIL PAN mandatory
5. Margin Minimum 10% of the Project Cost Minimum 10% of the Project Cost
6. Interest Rate(Floating Interest Rate) EBLR - 2.15% Effective Rate as on date: 6.00%  EBLR + 0% - Effective Rate as on date – 8.15%
 
7. Tenor Maximum 120 months (inclusive of Moratorium period)
No Minimum period
(No pre-payment penalty)
8. Security Hypothecation of Assets
9. Processing Fees NIL
10. Subsidy
  • 1KW – Rs. 30000
  • 2KW – Rs. 60000
  • 3KW – Rs. 78000
  • To be Claimed by Borrower from Suryaghar.gov.in (MNRE website)(Loan Account Number to be provided for credit of Subsidy Amount in the Loan Account)
 Subsidy Amount – Rs. 78000
To be Claimed by Borrower from Suryaghar.gov.in (MNRE website)(Loan Account Number to be provided for credit of Subsidy Amount in the Loan Account)
11. Net Annual Income No Requirement Minimum - Rs. 3 lacs.
12. Documents required
  • KYC Documents.
  • Copy of Electricity Bill
  • KYC Documents
  • ITR Returns / Form-16 last 2 years.
  • Salary statement (6 Months)
  • Copy of Electricity Bill
13. Moratorium 6 Months from the date of Disbursement
14. 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
15. Other Covenants
  • All applications are to be first registered at https://pmsuryaghar.gov.in and after successful registration, loan is to be applied through https://www.jansamarth.in
  • Available for Self-Sourced Journey as well as assisted journey.
  • Insurance of Assets financed through Bank Loan NOT mandatory for Roof Top Solar capacity between 1 KW to 3 KW.
  • Asset to be insured for the total cost of installation for capacity more than 3 KW. Cost of the insurance to be borne by the customer.
16. Link for loan application

To apply register at https://pmsuryaghar.gov.in

After successful registration, please apply at https://www.jansamarth.in


FAQs on SBI Surya Ghar Yojna for Solar Roof Top Finance

1. Who are eligible to take SBI Surya Ghar Loan for Solar Roof Top finance?

A: All resident individual applicants who have sufficient roof area and roof top rights on which the installation is proposed along with customers may opt for ground -mounted elevated installations also, meeting the technical specifications. However, she/he should have rights to the ground/ land on which the installation is proposed., can avail this loan for installation of solar roof Top.

2. How much loan amount is available in SBI Surya Ghar Scheme?

A: There is no minimum loan amount. Maximum loan amount is ₹6 lacs.

3. Are there any minimum income criteria to avail this loan?

A: No, for loan amount up to ₹ 2 lacs, there is no minimum income criterion.

However, to avail loan for more than ₹2 lacs and up to ₹6 lacs, net annual income should be ₹ 3 lacs and above.

4. How much margin money I have to bring for availing loan?

A: Only 10 %.

5. What is the rate of interest in this scheme?

A: As on date (15.06.2025),

(a) 6.00% p.a. , if the loan amount is up to ₹ 2 lacs.

(b) 8.15% p.a., if the loan is for more than ₹ 2 lacs & up to ₹ 6 lacs.

Please note that this loan is available at floating rate of interest

6. Up to what age, can I avail loan under SBI Surya Ghar Scheme?

A: The maximum age to apply for the loan is 65 years, if you are applying it in the single name. Otherwise, maximum age is 75 years if you are applying in Joint names. However, the loan must be closed before co-borrower completing 75 years of age.

7. Do I need to pay processing fee also?

A: No, it has been waived for SBI Surya Ghar Scheme

8. Is PAN / IT Return /Form 60 mandatory for availing this loan?

A: No, if loan amount is up to ₹ 2 lacs. However, in cases of loan for more than ₹ 2 lacs & up to ₹ 6 lacs, it is mandatory.

9. What is minimum CIBIL score for this loan?

A: (a) For Loan Amount up to₹ 2 lacs, no minimum score is prescribed.

(b)For loan amount more than ₹ 2 lacs and up to ₹ 6 lacs, it is 650.

However, customers with default / write off in CIBIL are not eligible.

10. Are NTC (New to Credit) customers also eligible for this loan?

A: Yes

11. Do I need to have Savings Bank Account with SBI?

A: Yes

However, if a customer does not have Savings Bank account with SBI, she/ he can open a new SB account and apply for the loan.

12. What is the minimum repayment period?

A: No minimum repayment has been prescribed for this loan.

13. What is the maximum repayment period?

A: 10 years (Including moratorium period of 6 months).

14. Is there any prepayment penalty if I close the loan before its tenor is over?

A: No

15. How will the loan be disbursed?

A: Loan would be disbursed directly to the account of Vendor / Channel Partner / EPC Contractor.

16. How can I claim subsidy?

A: Subsidy can be claimed by the borrower at MNRE site (https://pmsuryaghar.gov.in), by quoting the loan account number.

17. Is insurance of solar roof top panel & equipment mandatory?

A: It is optional if loan amount is up to ₹ 2 lacs.

However, it is mandatory if loan amount is more than ₹ 2 lacs and up to ₹ 6 lacs (insurance charges to be borne by the customer)

18. Which documents are required by the Bank to apply for loan?

A: (a) For loan up to ₹2 lacs, only electricity bill(copy of Physical electricity bill waived) and KYC documents are required, which are address proof and identification proof.

(b) If loan is applied for more than ₹2 lacs and up to ₹ 6 lacs, in addition to identification proof, address proof, income documents along with bank statement is also required.

For salaried person, last 2 years Form 16 is required and for self-employed applicants, Income tax return of last 2 years is required.

19. How can I apply for loan?

By visiting Bank’s website bank.sbi, under Loans, please go to SBI Surya Ghar Scheme and opt for Apply Now.

Alternatively, you can register first at https://pmsuryaghar.gov.in and then apply for loan at https://www.jansamarth.in

20. If I have some doubts/ need clarifications, whom shall I contact?

You may speak to our contact center at 18001234 or 18002100 or 1800112211. You may also send a mail to cm4.retailloans@sbi.co.in with a copy to dgmecom.pbbu@sbi.co.in .


Customer's Journey Guide


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Last Updated On : Monday, 01-12-2025

Interest Rates

6.00% p.a.

for loan amount up to Rs. 2 lacs

8.15% p.a.

for loan amount > Rs. 2 lacs up to Rs. 6 lacs

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