Rooftop solar power systems loan
Borrow to install a new solar power system of up to 10 kW on your residential rooftop, with loan limits linked to system capacity.
Deze mogelijkheid is momenteel in het Engels beschikbaar.
For systems up to 3 kW, you can borrow up to INR 200,000. For systems above 3 kW and up to 10 kW, the maximum is INR 600,000. PNB determines the loan according to capacity, listing INR 50,000–70,000 per kW for that calculation.
You must contribute your own funds alongside the loan. PNB sets its required “margin” at 10% for loans up to INR 200,000 and 20% for loans above INR 200,000 through INR 600,000. The bank pays the loan and your contribution directly to the vendor or installation contractor.
Repay the loan with interest over at most ten years, including a six-month initial repayment pause starting from disbursement. During that pause, you must pay interest when charged. Repayment must finish by the borrower’s 75th birthday. The purchased equipment secures the loan through hypothecation: it is pledged as security to the bank. Processing and upfront fees are zero.
If you claim the separate MNRE rooftop-solar subsidy, provide your loan-account number so the subsidy is credited to that account.
Eligibility
- Apply as an individual, alone or jointly with your parents, spouse, earning children (married or unmarried), or earning daughter-in-law. The applicant or co-applicant must own the residential property and have rights to its rooftop. Provide a latest electricity bill confirming ownership and have sufficient roof space under Ministry of New and Renewable Energy (MNRE) requirements. The applicant must hold a savings account.
- PNB specifies a CIBIL TransUnion credit-information score of 680 or equivalent, and also accepts the listed -1, 0, nil or “no hit” results where a scored credit record is unavailable. The maximum applicant age is 75, with full repayment also required by that age.
- Use an approved vendor on the MNRE/state electricity-distribution-company programme's list (an “empanelled” vendor). Submit the required MNRE feasibility reports with the installation quotation.
- For loans up to INR 200,000, no minimum income or income assessment is required. A third-party guarantee is waived, asset insurance is optional, and a PAN tax-identification card is optional.
- For loans above INR 200,000 and up to INR 600,000, minimum net annual income is INR 300,000. All deductions, including the proposed loan instalment, must not exceed 50% of the borrower or borrowers’ gross annual salary or income. The bank must establish regular income over the full loan term and review at least one year’s income-tax return and six months of account statements. The document list includes a one-year return or Form 16, the salary tax certificate. A PAN card is mandatory.
- In that higher loan band, provide a third-party guarantor: someone who guarantees repayment if you fail to repay. Their net financial means must be at least equal to the loan amount. For installations above 3 kW in that band, insure the asset for the total installation cost and pay the insurance yourself.
How to apply
- Status
- Doorlopend open
- Voorwaarden voor deze aanvraagronde
- Final sanction requires branch verification of documents and assessment.
Apply through the Jan Samarth portal, either yourself or through its assisted application journey. Digital provisional approval is based on your self-declaration; the relevant PNB branch makes the final lending decision after verifying documents and assessing the application.
Provide the application and sanction paperwork, identity-check documents such as Aadhaar and PAN where required, the quotation and required MNRE feasibility reports, your latest electricity bill, proof of property ownership such as a tax receipt or sale deed, and the last six months of account statements. Include the income evidence required for loans above INR 200,000. PNB disburses the loan and your contribution directly to the vendor or installation contractor after the required feasibility reports are submitted.