300 units free electricity to 1 million households is ultimate goal of PM Surya Ghar Muft Bijli Yojana. In which to provide financial facilities to the beneficiaries is also target of the government, and now ICICI Bank also launched their loan products to provide solar loan for the households.
If you are interested to avail solar loan from ICICI Bank then this article will help you to know all he details about the solar loan. Like what is rate of interest, loan tenure, loan amount etc. So, let’s start.
Headings
ICICI Bank Solar Loan Details 2024
ICICI bank offers solar loan for both salaried individuals and self employed group of the people. Differentiate them bank offers 2 products in the category. Actually both products provide same benefits to the households. Bank provides loan up to 90% of the total project cost for those who are unable to pay solar plant payment under the Pradhan Mantri Surya Ghar Yojana after the subsidy.
ICICI solar loan interest rate and loan amount
- Rate of Interest (ROI): If you want to install solar panel on rooftop and avail the bank loan from the ICICI Bank then you have to pay interest rate 11% per annum of your loan amount. It means if you take a loan of 1 lakh rupees then you have to pay 11,000 rupees more as a rate of interest.
- Loan Amount: In both the products, bank offers up to 90% of the project cost and it will be maximum up to Rs 6 lakh to the applicant to install rooftop solar panel under the newly launched government scheme.
Fantastic features of solar loan from ICICI bank
Here are the benefits of features of the ICICI bank if you want to get the loan from the bank.
Highlights
| Benefits | Details |
|---|---|
| Loan Amount | Maximum Rs 6 Lakh |
| Interest Rate | 11% per annum |
| Repayment period | 1 year to 3 year |
| Processing charges | NIL (Rs 0) |
| Eligibility Criteria | Should not bank defaulter and eligible for PM-SGMBY |
| Application Process | Online or Offline |
| Official Website | https://www.icicibank.com/ |
Application Process
Step 1: Visit nearest branch of ICICI Bank.
Step 2: Meet the loan officer and tell them about solar loan under PM Surya Ghar Yojana.
Step 3: After that, he/she will check eligibility criteria and fill up the form for loan application.
Step 4: After all the documentation work your loan amount will be credited to your vendors.
By following these steps you can apply for the ICICI Bank solar loan.
Contact Details
If you have any questions regarding the loan products from the ICICI Bank then you can contact the authorised person below.
| Name | Email ID | Phone Number |
|---|---|---|
| Mr. Shantanu Pandey | shantanu.pandey@icicibank.com | +91 98186 80950 |
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