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SBI's Surya Shakti Solar Finance: Loans for Solar Setup at 5% Interest!
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News18•20-09-2026, 08:53
SBI's Surya Shakti Solar Finance: Loans for Solar Setup at 5% Interest!
- •SBI launches 'Surya Shakti Solar Finance' for grid-connected solar power systems.
- •Loans from Rs. 10 lakh up to Rs. 50 crore available, with an effective interest rate of 5% (after 4% subsidy).
- •Scheme targets SMEs, commercial establishments, and cooperative housing societies for self-consumption and PPA models.
- •Eligibility requires a CIBIL score of 650+ for 'captive' category and Udyam registration for MSMEs.
- •Repayment periods up to 15 years, no prepayment charges, and collateral requirements vary.
Key Questions Answered
The general interest rate for the SBI solar loan is 9 percent, out of which a 4 percent interest subsidy is available, meaning the customer only pays 5 percent interest.
For captive projects, term loans up to Rs. 10 crore are provided to SMEs, commercial establishments, and cooperative housing societies with a borrower contribution of at least 20 percent and a repayment period of up to 10 years including the moratorium.
Applicants under the captive category must maintain a CIBIL score of at least 650, MSME companies need an Udyam registration number, systems must be grid-connected, and EPC contractors must be registered with MNRE or DISCOM.
