Financing growth & transforming rural India.
Bank of Baroda, for rural India, with rural India.
Financing Solar Home Lighting Scheme
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Benefits
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Features
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Eligibility Criteria
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Document Required
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Fees & Charges
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Most Important Terms & Conditions (MITC)
Financing Solar Home Lighting Scheme : Benefits
- The maximum loan amount Rs. 50,000
- Low Margin Requirement
- Low Interest Rate
- Long Repayment Period
Financing Solar Home Lighting Scheme : Features
A loan to provide finance to farmers for solar energy home lighting system in rural and semi-urban places for renewable source of energy.
Financing Solar Home Lighting Scheme : Eligibility Criteria
Farmers having sufficient source of income for servicing the loan interest and installment. However, focus would be on our existing BKCC holders who do not have reliable source of electricity for domestic purpose
Financing Solar Home Lighting Scheme : Document Required
- KYC Documents (AADHAR, Voter ID, PAN Card, Driving License etc.)
- Passport Size photo
- Quotation/Invoice
- Land Records
- Project Report
- IT Return
Financing Solar Home Lighting Scheme : Fees & Charges
Processing charges:
- Aggregate Agriculture exposure of Rs. 3.00 Lakhs- Nil
For Term Loan
- Above Rs 3 Lakhs - 1 % of the limit sanctioned with a maximum of Rs 100 lacs.
Inspection Charges:
- Agriculture exposure upto Rs. 3.00 Lakhs- Nil
- Above Rs 3 lakhs to Rs 10 Lakhs - Rs 250
- Above Rs 10 Lakhs to Rs 1 Crore - Rs 1000
- Above Rs 1 Crore - Rs 5000
Financing Solar Home Lighting Scheme : Most Important Terms & Conditions (MITC)
| Quantum of Loan | The maximum loan amount will not exceed Rs. 50,000 |
|---|---|
| Nature of Facility | Term Loan |
| Margin | 15% of the project cost |
| Repayment Period | The loan is to be repaid within 5 years |
| Security | Hypothecation of solar system |
| Rate of Interest | One year MCLR+ SP |
