• A- A A+

PSB SCHEME FOR FINANCING ROOF TOP SOLAR (RTS) PROJECTS

Purpose

  • For installation of Grid connected RTS (Roof Top Solar Panel) for residential purpose only.
  • Setting up of Grid connected Roof Top Solar system up to 10 KW plant to individual having existing independent house.

Target Group

  • Individuals having independent house
  • New home loan customer as well as existing home loan customer shall be eligible

Nature of Loan

Term Loan

Extent of Loan

The maximum quantum of loan per individual is 75% of Project Cost or Rs.10.00 lakh, whichever is lower.

Margin

Minimum 5% of the total estimated project cost.Subsidy in the form of Central Financial Assistance (CFA) to the extent of 40% of the benchmark cost for installation of Roof Top Solar of 3 KW and 20% subsidy for beyond 3 KW and upto 10 KW is available under the scheme.

Primary Security

Hypothecation of Roof Top Solar equipment/Assets created out of Bank finance.

Collateral Security

Not mandatory

ROI

EBLR based. 0.10% over and above the rate applicable to respective Home Loan scheme. click here

Repayment

7 years with a maximum moratorium period of up to 6 month

×

“Compare and Shop is a Service provided by Cheggout Services Pvt Ltd for Punjab and Sind Bank customer(s). Punjab & Sind Bank is providing this as a value added service. Punjab and Sind Bank does not guarantee or warranty or make any representation about the usefulness, worthiness and/or character of the product/service and/or discount or benefit.”

Accept

Decline