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Last Updated on 26/04/2017
IOB Surya


To purchase off grid renewable solar energy equipments in India as under:

Ø Solar Cookers

Ø Solar Heaters

Ø Home/Indoor Lighting Systems

Particulars

Scheme A

Scheme B

Eligibility

All Individuals satisfying 50% take home pay norms.

Institutions like Educational Institutions, Hospitals, Hotels/Restaurants etc.

Quantum of Loan

85% on the project cost which includes cost of the system, accessories,

Transportation & installation.

 

Minimum - Rs 30,000/- and Maximum of Rs 10.00 Lacs 

 

80% on the project cost which includes cost of the system, accessories,

Transportation & installation.

 

 

 

Minimum - Rs 1.00 Lac- and Maximum of Rs 10.00 Lacs .

Interest Rate

11.75%

12.00%

Security

For Loan up to Rs 1 lac, Hypothecation of Solar Energy Equipments (financed by the Bank) along with third Party Guarantee.

 

For Loan above Rs 1 Lac, 100% Collateral security shall be obtained in any form as under:

ü Mortgage of land /House/flat.

ü Security in the form of LIC policy/ NSC/ Term Deposits, etc.

Repayment Period

Maximum up to 5 years without holiday period