{"id":427,"date":"2023-11-06T02:39:50","date_gmt":"2023-11-06T02:39:50","guid":{"rendered":"https:\/\/srmsolar.in\/?page_id=427"},"modified":"2023-11-06T03:02:55","modified_gmt":"2023-11-06T03:02:55","slug":"solar-loan","status":"publish","type":"page","link":"https:\/\/srmsolar.in\/index.php\/solar-loan\/","title":{"rendered":"Solar Loan"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-page\" data-elementor-id=\"427\" class=\"elementor elementor-427\">\n\t\t\t\t<div class=\"elementor-element elementor-element-daf8639 e-flex e-con-boxed e-con e-parent\" data-id=\"daf8639\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-6fd904b elementor-widget elementor-widget-heading\" data-id=\"6fd904b\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">ROOFTOP SOLAR LOAN BY ELECTONICA FINANCE LIMITED<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-8fbb324 elementor-widget elementor-widget-text-editor\" data-id=\"8fbb324\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<div id=\"single-post-section\" class=\"single-post-page entry-content\"><div id=\"post-421\" class=\"post-421 post type-post status-publish format-standard hentry category-blog\"><div class=\"entry-content\"><p>solar loan (Surya Shakti) is a financing option that allows you to purchase your own solar power system or pay for the installation costs upfront and then repay the loan over time. The loan can be taken from a financial institution like us and repaid monthly with interest over a set period of time. Rooftop solar loans are designed to make going solar more affordable for MSMEs, firms, residential properties, hospitals, hotels, schools etc.<\/p><p>If you\u2019ve decided that a rooftop solar system is the best solution for your business but cash flow issues are holding you back, our rooftop solar loan is the best option to help you overcome the financial roadblocks.<\/p><p>So why should you get a rooftop solar loan? Well, there are many reasons!<\/p><h2 class=\"wp-block-heading\">Features and benefits of a rooftop solar loan<\/h2><p>Maximum Loan Amount<\/p><p>Up to Rs. 3Cr<\/p><p>Loan Repayment Period<\/p><p>4 years<\/p><p>Interest Rate<\/p><p>Flexible Interest Rate<\/p><p>Faster Disbursal<\/p><p>Within 3 working days<\/p><p>No Collateral Required<\/p><p>Collateral free loans upto 50 lakhs<\/p><h2 class=\"wp-block-heading\">EFL solar financing benefits<\/h2><h2 class=\"wp-block-heading\">\u00a0<\/h2><p>solar loan is ideal for residential, commercial and industrial customers with a property that\u2019s eligible for solar panel installation. Our rooftop solar financing allows you to take advantage of a number of benefits including<\/p><p><strong>Here are some reasons why you should work with us:<\/strong><\/p><ul><li><strong>Trusted by 35,000+ Businesses<\/strong>\u00a0\u2013 Electronica Finance Limited is an RBI-registered non-banking financial company (NBFC) to have rooftop solar finance as a product.<\/li><li><strong>Collateral-free solar loan<\/strong>\u00a0\u2013 A collateral-free loan for a solar power plant is a unique offering that is not available with any other player in India. It allows you to borrow up to Rs.50 lakhs without pledging any asset as collateral.<\/li><li><strong>One-time investment for lifetime returns with easy solar loan repayment<\/strong>\u00a0\u2013 We will help you provide a return on investment that can save you money on energy costs, boost the value of your business or home and help protect our environment by reducing carbon emissions.<\/li><li><strong>Lower utility bills<\/strong>\u00a0\u2013 After the initial investment, you will see lower electricity bills every month because you own the system instead of leasing it from a third party.<\/li><li><strong>Tax benefits of our solar loan scheme<\/strong>\u00a0\u2013 In an effort to increase the use of solar rooftop energy, the Ministry of New and Renewable Energy is offering a tax benefit of 40% on investments. The accelerated depreciation allows commercial and industrial users to depreciate their investment in solar energy at a much faster rate than other assets.<\/li><\/ul><p>For more information visit<\/p><p><a href=\"https:\/\/www.electronicafinance.com\/contact-us\/loan-enquiry\/\" target=\"_blank\" rel=\"noreferrer noopener\">https:\/\/www.electronicafinance.com\/contact-us\/loan-enquiry\/<\/a><\/p><\/div><\/div><\/div>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-cb10edd e-flex e-con-boxed e-con e-parent\" data-id=\"cb10edd\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-1eb04a2 elementor-widget elementor-widget-heading\" data-id=\"1eb04a2\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">SBI OFFERING SOLAR ROOFTOP SYSTEM INSTALLATION LOAN<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-41d1c9a elementor-widget elementor-widget-text-editor\" data-id=\"41d1c9a\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>Purpose: Loan for installation of Solar rooftop \/ ground mounted grid-connected solar panel systems and equipment for personal use<\/p><p>Features<br \/>Target Group: All existing salaried personal segment customers maintaining salary account with Bank.<br \/>Type of facility: Term Loan<br \/>Quantum of Loan: Minimum Rs. 50,000 and Maximum Rs.10 lakhs.<br \/>Borrower\u2019s Margin \/ Contribution: 20% (minimum)<br \/>Rate of interest: Attractive Interest rate, 200 bps above 1-Year MCLR (effective rate wef 15.07.2023 is 10.55%)<br \/>*Existing home loan borrowers will get 20 bps concession in rate of interest subject to extension of mortgage.<br \/>Other existing SBI customers with good track record will get 10 bps concession in rate of interest.<br \/>Repayment Period: Minimum 6 months and Maximum 5 years.<br \/>Processing charges: 0.50% of loan amount + applicable GST, subject to minimum of Rs.500<br \/>Processing of loans: Centralised Processing for quick Turn Around Time (TAT)<\/p><h3 class=\"wp-block-heading\">Eligibility\u00a0<\/h3><ul><li>All existing salaried personal segment customers maintaining salary account with Bank.\u00a0<\/li><li>CIBIL score of 670 and above.<\/li><li>Minimum NAI (Net Annual Income) of Rs.3 lakhs and above.<\/li><li>EMI\/NMI ratio: For NAI &lt; = Rs. 3 lakhs &amp; upto Rs. 5 lakhs is 40% and for NAI &gt; Rs.5 lakhs is 50<\/li><\/ul><p>Documents Required<br \/>Proforma Invoice \/ Quotation for equipment, installation etc.<br \/>Feasibility approval from Jurisdictional ESCOM (wherever applicable)<br \/>Electricity bill for last 6 months.<br \/>KYC documents (as per Bank\u2019s guidelines)<br \/>Last 2 years ITR returns \/ Form 16<br \/>Salary statement for last 6 months.<\/p><p>For application:<\/p><p><a href=\"https:\/\/suryashakti.bank.sbi:5443\/SSC\/login\/customer?OWASP_CSRFTOKEN=AOG2-DJV8-T6V8-UZPR-HAEB-ZDSV-2D9L-EQH2\" target=\"_blank\" rel=\"noreferrer noopener\">https:\/\/suryashakti.bank.sbi:5443\/SSC\/login\/customer?OWASP_CSRFTOKEN=AOG2-DJV8-T6V8-UZPR-HAEB-ZDSV-2D9L-EQH2<\/a><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>ROOFTOP SOLAR LOAN BY ELECTONICA FINANCE LIMITED solar loan (Surya Shakti) is a financing option that allows you to purchase your own solar power system or pay for the installation costs upfront and then repay the loan over time. The loan can be taken from a financial institution like us and repaid monthly with interest &hellip; <\/p>\n<div class=\"link-more text-center\"><a href=\"https:\/\/srmsolar.in\/index.php\/solar-loan\/\" class=\"more-link py-2 px-4\">Read More<span class=\"screen-reader-text\"> &#8220;Solar Loan&#8221;<\/span><\/a><\/div>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_uf_show_specific_survey":0,"_uf_disable_surveys":false,"footnotes":""},"aioseo_notices":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/srmsolar.in\/index.php\/wp-json\/wp\/v2\/pages\/427"}],"collection":[{"href":"https:\/\/srmsolar.in\/index.php\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/srmsolar.in\/index.php\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/srmsolar.in\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/srmsolar.in\/index.php\/wp-json\/wp\/v2\/comments?post=427"}],"version-history":[{"count":10,"href":"https:\/\/srmsolar.in\/index.php\/wp-json\/wp\/v2\/pages\/427\/revisions"}],"predecessor-version":[{"id":449,"href":"https:\/\/srmsolar.in\/index.php\/wp-json\/wp\/v2\/pages\/427\/revisions\/449"}],"wp:attachment":[{"href":"https:\/\/srmsolar.in\/index.php\/wp-json\/wp\/v2\/media?parent=427"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}