New Delhi, Tata Power Solar Systems on Tuesday announced its partnership with state-owned Indian Bank to promote solar rooftop adoption among residential consumers.
The collaboration aims to facilitate financing solutions for installations up to 3 kW under the popular Pradhan Mantri Surya Ghar Muft Bijli Yojana as well as support for installations up to 3 to 10 kW under the regular scheme, a statement said. Have to increase.
Under the framework of the PM Surya Ghar Free Electricity Scheme initiative, residential consumers can avail a loan of up to Rs 2 lakh at an annual interest rate of 7 per cent in compliance with government rules.
With a nominal margin money requirement of 10 percent and collateral-free financing, homeowners can easily start their solar journey.
Additionally, the repayment tenure extends up to 10 years, offering flexibility and convenience. For installations ranging from 3 kW to 10 kW, TPSS and Indian Bank offer a tailored financing solution that accommodates the diverse needs of homeowners.
Eligible applicants can avail a loan up to Rs 6 lakh with a margin money requirement of 20 per cent. Interest rates ranging from 8.4 percent to 10.8 percent per annum ensure competitive financing options.
Deepesh Nanda, CEO and Managing Director, Tata Power Renewable Energy, said, “This collaboration is a significant step forward, providing tailored financial solutions to empower homeowners while seamlessly connecting with government initiatives like PM Surya Ghar.”
The collaboration aims to facilitate financing solutions for installations up to 3 kW under the popular Pradhan Mantri Surya Ghar Muft Bijli Yojana as well as support for installations up to 3 to 10 kW under the regular scheme, a statement said. Have to increase.
Under the framework of the PM Surya Ghar Free Electricity Scheme initiative, residential consumers can avail a loan of up to Rs 2 lakh at an annual interest rate of 7 per cent in compliance with government rules.
With a nominal margin money requirement of 10 percent and collateral-free financing, homeowners can easily start their solar journey.
Additionally, the repayment tenure extends up to 10 years, offering flexibility and convenience. For installations ranging from 3 kW to 10 kW, TPSS and Indian Bank offer a tailored financing solution that accommodates the diverse needs of homeowners.
Eligible applicants can avail a loan up to Rs 6 lakh with a margin money requirement of 20 per cent. Interest rates ranging from 8.4 percent to 10.8 percent per annum ensure competitive financing options.
Deepesh Nanda, CEO and Managing Director, Tata Power Renewable Energy, said, “This collaboration is a significant step forward, providing tailored financial solutions to empower homeowners while seamlessly connecting with government initiatives like PM Surya Ghar.”