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What are the terms and conditions for solar loans?

For Individuals

Loan Amount Limits

Up to ₹25 Lakh or 85% of project cost (whichever is lower)

Interest Rate

Home loan top up: ~9%

General: 10.65%

Women: 10.15%


For Commercial Sites, Factories, Colleges or Hospitals

Loan Amount Limits

Up to ₹1.5 Crore or 80% of project cost (whichever is lower)

Interest Rate

Upto ₹25 Lakh: 10.65%

More than ₹25 Lakh: starting at 9.5%


For Housing Societies

Loan Amount Limits

Up to ₹1.5 Crore or 80% of project cost (whichever is lower)

Interest Rate

General: 10.65%


For all categories

Loan duration

Up to 7 years

Loan processing time needed

Typically 3-4 weeks

Loan processing charges

Up to ₹1 Lakh: Free!

Above ₹1 Lakh: From 0.50% of loan amount

Insurance Requirements

Solar assets created with such bank loans need to be insured in favour of the bank for the duration of the loan.

Save Money With Solar
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Save Money With Solar