IND-SURYA SHAKTI
A secured business loan for micro, small, medium and larger businesses installing solar power plants to supply their own electricity.
Denne finansieringsmuligheten er foreløpig beskrevet på engelsk.
Finance a solar power plant for your business’s own electricity use. The scheme is a term loan, which you repay over an agreed period, with no published loan ceiling. You must contribute 25% of the equipment cost and erection charges.
The total loan term, including any repayment holiday, is 15 years. The holiday can last up to six months for rooftop solar and up to 12 months for other installations. You must pay interest during that holiday. Processing and other charges follow the bank’s standard tariff.
Eligibility
- Micro, small and medium enterprises (MSMEs), mid-corporates and large corporates can apply. Solar plants must comply with technical standards issued by the Ministry of New and Renewable Energy (MNRE) and/or the Central Electricity Authority.
- MSMEs can use the scheme for on-site or off-site solar. For off-site projects, the project land must be owned or leased, with any lease covering the repayment period plus three years, and a power-grid connection must be ensured. Businesses not already financed by Indian Bank that seek a standalone off-site loan must also meet the bank’s minimum 50% security requirement through real estate (immovable property) or investments that can readily be converted into cash (liquid securities).
- The assets bought with the loan serve as security. The bank also requires a mortgage over the property where the plant is installed. If that property is already mortgaged to another bank or financial institution, obtain its no-objection certificate instead. Partners or directors must provide personal guarantees: they take personal responsibility for repaying the debt if the business cannot repay.
How to apply
- Status
- Løpende søknader
- Vilkår for søknadsrunden
- A contact request starts the bank’s enquiry process; loan approval is subject to eligibility assessment.
Use the product page’s “Apply For Loan” link to request contact from Indian Bank through its Customer First Portal. Choose the Loan category and provide your contact details, requested amount and preferred contact time. The form requires consent and one-time-password verification. Submitting a request does not guarantee eligibility or loan approval.