Financing growth & transforming rural India.
Bank of Baroda, for rural India, with rural India.
Loan for Installation of Solar Photovoltaic Pump Sets
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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)
Loan for Installation of Solar Photovoltaic Pump Sets : Benefits
- Nil Processing charges for aggregate Loan upto Rs 3.00 Lakhs
- Nil Inspection charges for aggregate Loan upto Rs 3.00 Lakh
- Low Margin: Minimum of 20% of the total project outlay.
- Long Repayment period upto 10 Years
Loan for Installation of Solar Photovoltaic Pump Sets : Features
A loan to purchase solar photovoltaic water pumping system that consists of PV array, motor pumping set, interconnect cables, and electronics.
Loan for Installation of Solar Photovoltaic Pump Sets : Eligibility Criteria
Individuals, group of individuals, SHGs, JLGs, NGOs, farmer clubs, farmers’ producer organization.
Loan for Installation of Solar Photovoltaic Pump Sets : Document Required
- KYC Documents (AADHAR, Voter ID, PAN Card, Driving License etc.)
- Passport Size photo
- Quotation/Invoice
- Land Records
- Project Report
- IT Return
Loan for Installation of Solar Photovoltaic Pump Sets : 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
Loan for Installation of Solar Photovoltaic Pump Sets : Most Important Terms & Conditions (MITC)
| Nature of Facility | Term Loan | ||||||||||||||
| Margin | Minimum of 20% of the total project outlay. | ||||||||||||||
| Repayment Period | Maximum of 10 years. | ||||||||||||||
| Security | Loan up to Rs. 1,00,000 Hypothecation of solar photovoltaic pumps Loan above Rs. 1,00,000 and up to Rs. 5,00,000 Hypothecation of solar photovoltaic pumps Third-party guarantee Loan above Rs. 5,00,000 Mortgage of land |
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| Rate of Interest |
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