CENT PM SURYA GHAR YOJANA

S N	Parameter	Eligibility Conditions (Up-to 3KW)	Eligibility Conditions (4KW to 10 KW)
1.	Purpose and Loan amount	Installation of Solar Roof Top Upto 3 KW Maximum Loan Amount: 6.00 lacs	Installation of Solar Roof Top more than 4 KW and up-to 10 KW Maximum Loan Amount: 6 lacs
1 a.	Project Cost Assumption	Maximum Loan Amount assuming cost of Installation @ Rs. 70000 per KW (approx.)
2.	Eligibility	1. All Individual Applicants 2. Applicant having minimum CIBIL Score of 680 & above (NTC also eligible) 3. Have Roof Top Rights on which the installation is proposed. 4. Have sufficient Roof area as mandated by MNRE from time to time. 5. Latest Electricity Bill 6. Applicant should be maintaining saving account with our Bank
3.	Margin	Minimum 10% of the Project Cost	Minimum 20% of the Project Cost
4.	Interest Rate	Repo + 0.50% (i.e. 7%)	Existing Home Loan borrower: ROI as per existing Cent Home loan Scheme Non-Home loan borrower: (ROI as per existing Cent Home loan Scheme) + 1%
5.	Tenor	Maximum 120 months (including moratorium); No Minimum period (No pre-paymentpenalty) Borrower reaching the age of 70 Years in case of salaried and 65 years in case of other than salaried.
6.	Moratorium	3 – 6 Months from the date of Disbursement
7.	Security	Hypothecation of Assets i.e. Roof Top Solar equipment created out of Bank Finance
8.	Processing Fees	NIL
9.	Subsidy	1. 1 – 2 KW – Rs. 30000 to Rs.60000 2. 2 – 3 KW – Rs. 60000 to Rs.78000 To be Claimed by Borrower (Loan Account Number to be provided for credit of Subsidy Amount in the Loan Account)	Above 3kW – Rs. 78000 To be Claimed by Borrower (Loan Account Number to be provided for credit of Subsidy Amount in the Loan Account)
10.	Income/ Eligibility	No Minimum Requirement	Minimum Net Annual Income Rs. 3.00 Lakh
11.	Disbursement	Payment to be made directly to Vendor / EPC contract holder after installation. Branch will issue supply order to the Vendor/ EPC contractor with a condition that the payment will be released only after installation and getting a satisfaction letter from the borrower/s. Disbursement to be made directly to the Vendor / EPC Contractor after installation submission of all the required feasibility reports as mandated by MNRE. Disbursement of Loan Amount + Borrower’s Margin (Subsidy to be claimed by Borrower / Vendor quoting the Loan Account Number)
12.	Other Covenants	All applications will be sourced through Jan Samarth Portal. Available for Self- Sourced Journey as well as assisted journey.
13.	Insurance	Roof Top Solar equipment should be insured by the borrower with usual bank clause. Total insurance should be at-least 110% of the loan amount.