PM-Surya Ghar Yojana -Standalone

• Up to 90% financing
• ROI starting from 5.75% PA *
• 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 is required for Loan limit up to Rs.2.00 Lacs.

To Know more about the PM Surya Ghar: Muft Bijli Yojana Click here

• 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:
  1. Up to 75 years
• Attractive Rate of interest:

Loan Limit up to Rs.2.00 Lacs	Loan Limit above Rs. 2.00 Lacs & upto Rs. 6.00 Lacs
5.75% p.a. at present	As per baroda Home Loan scheme (Presently starting from 7.90% p.a. linked to CIBIL score)

• 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:

Maximum Limit: Rs.6.00 Lacs

Age:

Maximum :

For Loan Limit up to ₹2.00 Lacs for salaried and non-salaried both cases:

• Standard Eligibility:Applicants up to 65 years of age are eligible, provided the loan is fully repaid before the borrower turn 70 Years.
• Extended Eligibility (Ages 65-75):Applicants over 65 (up to 75 years old) may be considered if a close relative acts as a co-applicant. In such cases, the loan must be repaid within a maximum of 10 years and before the Applicant/ co-applicant turns 75.

Margin:

• For loan limit upto Rs. 2.00 lacs: 10% of the Project Cost
• For loan limit above Rs. 2.00 Lacs & upto Rs. 6.00 Lacs: 20% of the Project Cost

• KYC documents of applicant/co-applicants
• Latest Electricity Bill
• Digital approval Letter issued through JanSamarth portal

Income Related Document:

For Loan Limit up to Rs.2.00 Lacs, no income document is required

For Loan limit more than Rs.2.00 Lacs & up to Rs.6.00 Lacs following documents are required:

• Salary slip for last 3 months and form number 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 in which salary/business proceeds credited (six months)
• Any other document deemed required on case to case basis

Loan limit up Rs.2.00 Lacs :

Processing Fee*: Nil, irrespective of the loan amount under the scheme.

*Stamp Duty applicable as per the prevailing guidelines of the respective State Government.

Loan limit more than 2.00 Lacs & up to Rs.6.00 Lacs:

Processing Fee*: Nil, irrespective of the loan amount under the scheme.

*Stamp Duty applicable as per the prevailing guidelines of the respective State Government.

• 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 Loan limit up to Rs.2.00 Lacs.
• 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 Loan limit up to Rs.2.00 Lacs.
• 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.