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| Objective : |
To promote adoption of renewable energy practices and use of Solar Home Systems. |
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Purpose : |
To install renewable energy equipments viz.
Solar Energy
- Solar Home Systems
- Solar Water Pumps with photovoltaic cells
- Equipments run on Photovoltaic Cells
Bio Energy
- Biomass Power Cogeneration Products
- Equipments converting Waste to Energy
- Bio Diesel
Clean Energy Programmes:
- Equipments promoting Clean Energy
The equipments should be manufactured by the companies approved by Bureau of Indian Standards (BIS), as well as UNEP. |
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Eligibility : |
Farmers, Rural Artisans, Salaried, business or Self Employed persons. Minimum net income of the applicant should be Rs. 50,000/- per annum. |
| Amount : |
90 % of cost of the system, maximum Rs. 50,000/- |
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Margin : |
10 % in Bank’s favour. |
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Rate of Interest : |
We are providing consumer loans in general to borrowers for purchase of consumer durables and the interest rate charged is at BPLR i.e. 11.25 %.
The equipments / items that will be purchased under the scheme will be helpful in supporting ecological balance. Interest concession of 50 basis points for borrowers under the scheme will be available. The interest rate accordingly will be at BPLR – 0.50 % i.e. at present 10.75 %. |
| Repayment : |
Repayment instalment would be decided as per the income generation of the applicant. Total loan will be repayable within 5 years. |
| Security : |
- Hypothecation of the system to be purchased
- One guarantor acceptable to the bank
- Adequate insurance cover of the system / equipment
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Other Terms and Conditions: |
Payment to be made directly to the dealers |
