Rooftop Solar Loan Scheme

Rooftop Solar Loan Scheme apply-for-product-leads

1

Purpose

  • For purchase and installation of 3 KW to 10 KW Rooftop Solar Photovoltaic (PV) System on the rooftop of Independent House/Villa.
2

Eligibility

  • All new & existing HL & NHL borrowers
3

Loan amount

  • Maximum loan amount up to: ₹ 10 lac.
4

Margin

  • For Total Loan Exposure up to Rs.30 lacs - 10%.
  • For Total Loan Exposure above Rs.30 lacs and up to Rs.75 lacs - 20%.
  • For Total Loan Exposure above Rs.75 lacs - 25%.
  • (Total Loan exposure - including existing loan liability)
5

Security

  • Additional charge over the property being financed and Hypothecation of Solar Equipment financed.
6

Rate of interest

  • Prevailing card rate
7

Repayment

  • Maximum up to 10 yrs.
8

Other Conditions

  • Rooftop Solar Photovoltaic (PV) System to be purchased from approved dealer as per Ministry of New & Renewable Energy – Govt. of India.
  • Equipment should be insured to the full value of the equipment for the loan term and policy to be assigned in favor of CFHL.

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