Punjab National Bank (PNB) also expressed interest to provide solar loan under the government’s new initiative called PM Surya Ghar Muft Bijli Yojana (PM-SGMBY). If you have no money to install rooftop solar panel then you go with the bank loan options to zero your residential electricity bills.
Now a days, majority of the medium and poor section of the society are fed up with high electricity bills. At that time Surya Ghar Scheme is the best way to reduce electricity bill with good finance options.
Let’s get a look of PNB (Punjab National Bank) Solar Rooftop Finance options in this article and we will inform you about Loan Amount, Rate of Interest, loan repayment period along with application process. Let’s dive into it.
Headings
PNB Rooftop Solar Finance Details 2024
Punjab National Bank provides variable loan offers to their customers based on the solar rooftop capacity they want to install. Where you will get loan amount up to Rs 6 lakhs on the minimal interest rate. Specially those who want to install maximum 3 Kilowatt Solar panel will get major benefits from the PNB Solar Loan Scheme.
Unlocking PNB solar loan amount and interest rate under PM Surya Ghar Yojana
- Loan Amount for up to 3 KW system: For those who are poor and medium families will require maximum 3 KW rooftop solar. They will get Rs 50,000 to Rs 70,000 per Kilowatt of loan amount from the Punjab National Bank.
- Loan Amount for 3 to 10 KW system: Those residential customers who want to install more than 3 kW solar system will get maximum up to Rs 6 Lakhs from the bank.
- Interest Rate for up to 3 KW: Here we want to tell you that rate of interest is depends on the RLLR (Repo Linked Loan or Lending Rate) and BSP Value. That’s why today in April, 2024 interest rate is 7.00%.
- ROI for 3 to 10 KW: Those who want to install 3 to 10 KW solar system will have to pay 8.40% to 9.90% interest rate for their loan amount. It will depends on two factors like customer is home loan borrowers or not and CIBIL score of the applicant. For more details you can check the image.
Unveiling Benefits of Punjab National Bank Solar Loan
- Easy Processing:- Fast and easy processing of loan amount and disbursement period is not more.
- NIL Processing Fees:- Punjab National Bank doesn’t ask for any processing charges for your loan application.
- Loan Tenure:- Once your loan application is approved you have 10 years (120 Installments) to repay the amount.
- Maximum Loan Amount:- As we informed you earlier that you will get Rs 6 lakh as a solar loan from the bank. That’s amazing!
Quick Look
| Loan Features | PNB Solar Loan Details |
|---|---|
| Amount (up to 3 KW) | Maximum 70 thousand per Kilowatt |
| Amount (3 to 10 KW ) | Rs 6 Lakh |
| Loan Repayment Period | 120 Months (10 Year) |
| Interest Rate | Varies from 7.00% 9.90% |
| Processing Fees | Rs 0 (NIL) |
| Eligibility Criteria | Necessary CIBIL Score + PM-SGMBY Criteria |
| Details in PDF | Click Here |
Application Process for PM-SGMBY PNB Rooftop Solar Loan
Step 1: Visit nearest branch of PNB Bank.
Step 2: Find loan approval officer and tell them about PM Surya Ghar Yojana Loan from PNB Bank.
Step 3: Now provide information about solar system capacity you want to install and other details.
Step 4: Now loan officer will provide you full details of the scheme.
Step 5: Now you have to co-operate with banks rules and fill the form and submit the documents.
Step 6: After that loan will be approved and amount will be transferred to your vendors.
By following these simple steps you can easily apply for PNB’s Solar loan for Pradhan Mantri Surya Ghar Muft Bijli Yojana.
Contact Person
| Name | Email Id | Contact Number |
|---|---|---|
| Parveen Ajmani | parveen.kumar17@pnb.co.in | +91 8837 895245 |
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