How to get Loan for solar
*Greno Solar, Greater Noida, offers hassle-free solar financing solutions for both residential and commercial customers. We collaborate with leading nationalized banks like **SBI, PNB, BOI, private banks such as **ICICI, HDFC, IDBI, and NBFCs like **ECOFY* and *Electronica India*.
Interest rates range from *7% to 10%*, depending on the solar plant size:
– *Up to 3KW*: ~7% interest, max loan of ₹2 lakhs.
– *5KW to 10KW*: ~10% interest, max loan of ₹6 lakhs.
Customers only need to pay a *20% down payment* of the sanctioned loan amount. The remaining funds are disbursed directly to the registered vendor handling the solar installation.
| S.No | Parameter | Eligibility Condtion up to 3KW | Eligibility Condtion up to 10KW |
|---|---|---|---|
| 1. | Criteria | Up to 3KW | from 3KW to 10KW |
| 2. | Loan Amount | Max. Rs. 2 Lakhs Max | Max. Rs. 6 Lakhs |
| 3. | Requirement | Latest Electricity Bills | |
| 4. | Saving account in the same branch in mandatory | ||
| 5. | Saving account in the same branch is mandatory
Name of borrower should be same as electricity bill, incase joint name in bill on that case first name should be applicant's Name |
||
| 6. | Sufficient roof should be avilable | ||
| 7. | Age up to 65 Years | ||
| 8. | Pan | mandatory | |
| 9. | Aadhar | mandatory | |
| 10. | KYC Documents | Pan, Adhar, Copy of Electricity bill, | |
| Pan, Adhar, Copy of Electricity bill, | |||
| ITR Returns/ Form 16 last 2 years | |||
| 3 Copy of Electricity | |||
| 11. | Down Payemnt | 20% | |
| 12. | Interest rate | Approx 7% | Approx 9.15% |
| 13. | Tenor | 5 Years | 5 Years |
| 14. | Requirement | ||
| Saving account in the same branch in mandatory | |||
| 2KW- Rs. 60000 | |||
| 3KW- Rs. 78000 | |||
| 15. | Documents | "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" | |