| Eligibility for Loan |
- Individuals including professional, businessmen, farmers and salaried class who are credit worthy. Salaried individual should have minimum monthly net take home salary of 40% of their gross salary or Rs.3,000/- per month whichever is higher.
- Professional and other non-salaried class having a minimum net yearly income of Rs.50,000/-.
- Any institution, hospital, nursing homes association, small business establishment like hostels, housing co-operatives/developers etc.
|
| Loan Amount |
upto 85% of the cost of the system. |
| Interest Rate for Soft Loan |
- 2% to domestic users
- 3% to institutional users (not availing accelerated depreciation) and
- 5% to industrial / commercial users (availing depreciation)
|
| Margin |
A margin of 15% should be maintained |
| Loan Repayment Period |
Maximum period of 5 years from the date of grant of loan. |
| Definition of Solar Water Heating System |
This is a solar system to heat water upto a temperature of 60-80 deg.C. It consists of flat plate collector(s)/ Evacuated Tube Collector(s) and a insulated hot water storage tank. The system is normally mounted on the roof top/adjacent land. |
* for details please contact our nearest branch.
