surya-ghar – Punjab Gramin Bank

Helpline / Tollfree No:1800-180-7777

Mail Us:pgb@pgb.co.in IFSC Code : PUNB0PGB003

PGB SURYA GHAR -MUFT BIJLI YOJNA

PGB SURYA GHAR – MUFT BIJLI YOJNA

Eligibility

· Applicant/co-applicant should have rooftop rights on which the installation is proposed.

· Have sufficient roof area as mandated by MNRE from time to time.

· Applicant/co-applicant should have latest electricity bill in their name.

· Repayment of the Solar Rooftop loan along with interest should not extend beyond the age of 75 years of borrower.

Purpose and Loan amount

Installation of new rooftop solar power system at residential house with maximum capacity up to 10 kw.

The cost of constructing platform, if required, may be included in project cost, maximum upto Rs. 20,000/- after ascertaining the prescribed margin.

For installation of rooftop solar power system up-to 3kW-

Max. Loan amount- Rs. 2.00 lacs

For installation of rooftop solar power system more than 3 KW and up-to 10kW- Max. Loan amount- Rs. 6.00 lacs

Margin

For Loan amount of upto Rs. 2 lakhs: 10%

For loan amount above Rs. 2 lakhs and upto Rs. 6 lakhs– 20%

Net Annual income

For Loan amount of upto Rs. 2 lakhs: No minimum income requirement. (no assessment is required)

For loan amount above Rs. 2 lakhs and upto Rs. 6 lakhs- Minimum Annual Income of Rs. 3 Lakhs.

Documents Required

a. Application Form and Sanction Letter

b. KYC documents PAN Card.*, Adhaar Card etc.

c. Quotation along with submission of required feasibility reports as mandated by MNRE.

d. One-year ITR/Form 16 (in case of loan sanctioned for installation of solar rooftop above Rs.2 lakhs and upto Rs. 6 lakhs)

Further, in case of persons engaged in allied agricultural activities and agriculturists, net income can be arrived at by sanctioning authority based on their land holding, cropping pattern, yield and scale of finance per hectare/ acre etc.

e. Account statement last 6 months

f. Latest Electricity bill.

*Pan Card is optional in case of loan amount upto Rs. 2 lakhs and mandatory for loan amount above Rs. 2 lakhs.

Security:

Hypothecation of equipment(s) to be purchased.

For Loan Amount upto Rs. 2 lakhs:

3^rd party guarantee waived

For Loan amount above Rs. 2 lakhs and upto Rs. 6 lakhs:

Third-party guarantee with net means of at-least equal to loan amount to be taken

However, third party guarantee may be waived in case of loan sanctioned to existing/fresh Home Loan borrower of our Bank.

Insurance

For Loan Amount upto Rs. 2 lakhs:

Insurance of asset is not mandatory.

For Loan amount above Rs. 2 lakhs and upto Rs. 6 lakhs:

Asset to be insured for the total cost of installation for capacity more than 3 KW.

Repayment Tenure

Maximum 10 year.

Repayment of the Solar Rooftop loan along with interest should not extend beyond the age of 75 years of borrower.

ROI

1. For loan amount upto Rs. 2 lakhs

Repo Rate+0.50%. presently, 6.25%+0.50% i.e. 6.75% (HS010)

2. For loan amount above Rs. 2 lakhs and upto Rs. 6 lakhs.

Under floating option:

CIBIL

TU or equivalent

ROI for existing/ fresh Home Loan Bor rower

ROI for Non- Home Loan

Borrower

800

and above

RLLR-0.60%

(Presently 7.90% p.a)

RLLR+0.40%

(presently

8.90% p.a.)

750 to 799

(including

-1/0/ No hit/ Nil)

RLLR – 0.55%

(presently 7.95% p.a.)

RLLR + 0.45%

(presently 8.95% p.a.)

700 to 749

RLLR – 0.10%

(presently 8.40% p.a.)

RLLR + 0.90%

(presently

9.40% p.a.)

680 to 699

RLLR+ 1.00%

(presently 9.50% p.a.)

RLLR + 2.00%

(presently 10.50% p.a.)

2.2. Under Fixed option:

CIBIL TU or equivalent	ROI for existing/ fresh Home Loan Bor rower	ROI for Non- Home Loan Borrower
800 and above	8.65% p.a.	9.65% p.a.
750 to 799 (including-1/0/ No hit/ Nil)	8.70% p.a.	9.70% p.a.
700 to 749	9.15% p.a.	10.15% p.a.
680 to 699	10.25% p.a.	11.25% p.a.

PGB SURYA GHAR -MUFT BIJLI YOJNA

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