Roof Top Solar Loan

Financing rooftop solar projects might be a challenge earlier, but with the government being supportive of utilising solar power to its utmost capacity, has now allowed banks to dispense loans to the public at liberal terms. Shivalik Bank supports the solar initiative and provides solar loans at attractive rates.

Eligibility

  • Individual, Proprietary concern, Partnership firm, Company, Limited Liability

Tenure

  • Maximum 20 years

Loan to Value

  • 80% value of the invoice price of Solar Panel(s) (Minimum Rs. 1.00 Lac, Maximum Depending upon requirement & Income / repaying capacity.)

Documents Required

  • ID and Address Proof
  • PAN Card
  • Existing Track Record (If available)
  • Assets & Liabilities Statement & Supporting Documents
  • Non-encumbrance & Title Report
  • Valuation Report
  • Proof of Income
  • Quotation of Roof Top Solar
  • Hypothecation of Equipment
  • Equitable mortgage/ Extension of Equitable
  • Copy of Insurance with Bank’s clause
  • Personal Guarantee by the Guarantor
  • Share Capital for regular members will be Rs. 100/- (upto Rs. 10.00 lac) and Rs. 500/- (above Rs. 10.00 Lac to Rs. 50.00 Lac).
  • All loans are applicable to actual bank charges which include valuation, legal and all actual bank charges

To know more visit your nearest branch.