SBI Surya Ghar Loan Calculator
SBI Surya Ghar – Loan for Solar Roof Top
Electricity bills rising every month? Rooftop solar is no longer a luxury—it’s a smart financial decision. With the SBI Surya Ghar Loan, State Bank of India is making solar energy accessible, affordable, and future-ready for Indian households.
What is SBI Surya Ghar Loan?
SBI Surya Ghar Loan is a dedicated financing scheme for installing rooftop solar systems under the PM Surya Ghar: Muft Bijli Yojana. The loan supports both small and medium residential solar installations while offering flexible repayment and a 6-month moratorium.
Loan Amount & Eligibility
- Up to ₹2 lakh: No minimum CIBIL score required
- ₹2 lakh to ₹6 lakh: Minimum CIBIL score 650+
- Applicant must have rooftop rights and sufficient roof area
- Loan must be closed before borrower reaches eligible age limit
Interest Rate (Floating)
SBI offers highly competitive interest rates:
- Loan up to ₹2 lakh: EBLR – 2.15% (Effective ~6.00%)
- Above ₹2 lakh: EBLR + 0% (Effective ~8.15%)
Margin, Moratorium & Tenure
- Margin: Minimum 10% of project cost
- Moratorium: 6 months (EMI starts after 6 months)
- Tenure: Up to 120 months
- Prepayment: No penalty
Solar Subsidy Details
- 1 KW – ₹30,000
- 2 KW – ₹60,000
- 3 KW – ₹78,000
Subsidy must be claimed via suryaghar.gov.in and is credited directly to the loan account.
Documents Required
- KYC documents
- Electricity bill
- ITR / Form-16 (last 2 years – for loans above ₹2 lakh)
- Salary statement (6 months)
How to Apply for SBI Surya Ghar Loan
- Register at pmsuryaghar.gov.in
- Choose solar vendor and system size
- Apply for loan via jansamarth.in
- Loan disbursed directly to EPC contractor
Why SBI Surya Ghar Loan is a Smart Choice
- Zero processing fee
- Government-backed subsidy
- Low EMI after moratorium
- Clean energy + long-term savings
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SBI Surya Ghar Loan vs Other Bank Solar Loans
| Feature | SBI Surya Ghar Loan | Other Public Sector Banks | Private Banks / NBFCs |
|---|---|---|---|
| Maximum Loan Amount | Up to ₹6 Lakh | ₹3–5 Lakh | ₹2–4 Lakh |
| Interest Rate | 6.00% – 8.15% (Floating) | 7.5% – 9.5% | 9.5% – 13% |
| Processing Fee | NIL | ₹1,000 – ₹5,000 | 1% – 2% of loan amount |
| Moratorium Period | 6 Months | 0–3 Months | Usually Not Available |
| Government Subsidy Support | Yes (PM Surya Ghar) | Limited | Mostly No |
| Prepayment Charges | No Penalty | May Apply | Usually Applicable |
Verdict: SBI Surya Ghar Loan stands out for its low interest rate, zero processing fee, longer moratorium, and full alignment with government solar subsidy schemes.
📘 Frequently Asked Questions
Disclaimer: The data provided here is collected from publicly available sources.
While every effort has been made to ensure accuracy, some typographical, coding, or other errors may exist.
Please verify details with the relevant official website.