SBI Surya Ghar Loan for Solar Roof Top Scheme 2025: State Bank of India is helping their customers to install solar rooftop under the PM Surya Ghar Yojana 2025. Eligible individuals will get a maximum loan amount of Rs 6 lakh rupees under the SBI Surya Ghar Loan program from SBI. It will enable low income individuals and Middle Class person to reduce their electricity bills by generating the electricity through solar panels. If you are also looking a financial assistance to install a solar rooftop under Surya Ghar Yojana 2025 then can check this article where we will share with you detailed information of the SBI Surya Ghar Loan program of the SBI to implement the Surya Ghar Yojana including the eligibility criteria, SBI Surya Ghar Loan application procedure, important documentation, government subsidy etc.
Installing a solar roof panel will definitely save the electricity bill but it is very costly procedure. So Government of India invited lending partners including SBI to offer suitable loans to their customers so they can install the solar panel on their roof top. The bank is offering a separate loan program named as loan for solar rooftop program. The loan amount in the program is ranging up to 6 lakh rupees to install a maximum 10 kilowatt solar panel. However a small families can install 2 to 3 Kilowatt solar panel with government subsidy and loan from SBI accordingly.
SBI Surya Ghar Loan for Solar Roof Top
The SBI Surya Ghar Loan amount is divided into two categories including amount for installing a solar panel for up to 3 Kilowatt capacity and installing a solar panel between the capacity of 3 Kilowatt to 10 kilowatt. So if you want to install 3 Kilowatt solar panel then you will get maximum to lakh rupees loan amount from the company, however if you are looking to install up to 10 kilowatt solar panel then you can get maximum six lakh rupees from the bank.
SBI Surya Ghar Loan Interest rates
Interest rates will be decided by the bank according to the loan amount which you are applying. Currently bank is charging 7% interest for those who are applying up to 3 Kilowatt solar panel due to EBLR – 2.15%. However individuals who want to install solar panel in second category of up to 10 kilowatt have to pay 10.15% Interest rates, but if you are existing applicant of home loan in the bank and applying for installing solar rooftop then you need to pay 9.15% annual interest for this SBI Surya Ghar Loan.
EMI of SBI solar rooftop loan
The bank is offering opportunity to create EMI for maximum 120 months or 10 years. It will also include Moratorium period. However you are not limited to create your EMI for 10 years but if you want to do repay your amount with short EMIs then can create accordingly. Apart from this, if you are able to arrange rest of the loan of payment and want to complete your all the EMI at one time link and also repay your amount without any additional charges.
SBI pm suryaghar Yojana subsidy
Applicants will get subsidy to install a solar rooftop from the Central and state government. Maximum 30000 subsidy will be provided to those who want to install 1 kilowatt solar rooftop, 60000 subsidy is scheduled for those who want to install 2 kilowatt solar panel and 78000 subsidy will be provided who was installing 3 Kilowatt or more KW solar panels.
After getting the subsidy your SBI Surya Ghar Loan will automatically reduce, for example if you are applying for 1 lakh loan to install a solar panel and getting 60000 rupees subsidy then your 60000 rupees deducted from your SBI Surya Ghar Loan balance amount and you only required to pay rest 40000 rupees to the bank.
Eligibility of SBI loan for solar rooftop program
- Only Indian citizens who already have a bank account in SBI are eligible to get the SBI loan for solar rooftop program
- The age of the applicant should be at least 21 years old and should not be more than 65 years old while applying for the loan
- The applicant should have their own rooftop to install a solar panel
- It is important to follow the guidelines of Ministry of new and renewable energy to install the solar panel.
- CIBIL score of the applicant should be at least 680 to get a good loan offer.
- The individual should already have an electricity connection and need to provide the latest electricity bill as a proof.
SBI Surya Ghar Loan Application procedure
The loan for suryaghar program of Central Government is provided through online mode on the government portal where you firstly create your registration by following this procedure:
- First of all visit to the official website of PM soyagar Yojana https://www.pmsuryaghar.gov.in/
- Now you will reach on the new page where you have to click on the new registration link and have to provide your all the basic information in the application page
- Once you provide your details, it will ask you to opt for finance option where you will see SBI loan offer in the program
- Now you need to click on the apply for loan link and the bank will automatically evaluate your eligibility according to their database
- After that, you will get OTP and other verification message on your registered mobile number, once you provide your details on the portal, your application will be successfully submitted
Once the bank verify your information, you will get the payment in bank account directly, so you can use the amount to install a solar rooftop.