Solar Loans in India — How to Finance a Rooftop System

Not everyone pays for solar out of savings, and there is no reason to. Two real routes exist for financing a rooftop system in India, and they work differently.

Route one: your own bank

Public-sector banks offer collateral-free solar loans at a concessional rate specifically for home systems up to 3 kW installed under PM Surya Ghar. This is the most direct route if you already bank somewhere with a good relationship — ask your branch for its current rate and terms, since these are set by the bank, not by the scheme itself.

Route two: through your installer’s partner financiers

We can also connect customers with partner financiers, so you are not left to find a lender on your own from scratch. This does not make us a lender ourselves — the financier makes its own credit decision, on its own terms, and we cannot promise approval or a specific interest rate in advance. What we can do is make the introduction and help you compare what is on offer.

The one thing both routes have in common

The loan and the subsidy are two separate flows of money. You repay the loan in full, on whatever schedule the lender sets, regardless of when the PM Surya Ghar subsidy arrives in your bank account. The subsidy is not netted against the loan automatically — plan your monthly repayment on the assumption that the subsidy is a separate, later inflow, not a discount on what you owe the lender.

What to check before signing either

• The actual interest rate, not just “concessional” as a word — ask for the number.
• The tenure and EMI, and what happens if you want to prepay once the subsidy arrives.
• Whether the loan is secured against anything — the PM Surya Ghar bank scheme is specifically collateral-free for eligible systems; check that a partner financier’s offer is on comparable terms if collateral-free matters to you.
• Processing fees and any other charges beyond the headline interest rate.

Financing is a means, not the decision itself

Whether solar is worth it for your bill still comes down to your usage, not how you pay for it — a system that would not pay back on savings does not become a good idea because a loan makes the upfront cost easier. Work out your own numbers in the calculator first, then talk to us about financing the result.