Purpose

* To finance Solar Water Heating System under Jawaharlal Nehru National Solar Mission.

Eligibility

* All types of users.

Nature of facility

* Term Loan

Quantum of Loan

* Based on the unit cost of the model being purchased.

Margin

* 20%.

Security

* Primary
- Hypothecation of the assets created out of loan..
* Collateral
- Employer's Undertaking (in case of Salaried employees)
- PDCs
-Third Party Guarantee (for other than salaried employees).

Interest Rate

* 5% p.a. ( for borrowers availing loan at concessional rate of interest).
* MCLR+1.25% (for borrowers availing capital subsidy).

Repayment

* Within 3 to 5 years.