To save people from rising electricity bills, the Government of India has started PM Surya Ghar Bijli Yojana to promote solar panels in homes. Under this scheme, the Government of India helps people install solar panels in their homes. Prime Minister Narendra Modi started this scheme in February 2024. Under this scheme, a target has been set to install solar panels in the homes of one crore people in India.
Under the scheme, the government also provides 300 units of free electricity. If you want to install solar panels under this scheme. But you do not have enough money. So under the scheme, you can also get a loan from the bank, how much and how can you get the loan? Let us tell you.
You can get a loan of up to 6 lakhs
Under the Pradhan Mantri Surya Ghar Yojana, the subsidy is provided by the Government of India for installing solar panel connections. So that more and more people can get solar panel connections. However many people do not have money to buy solar panels. Let us tell you that in the scheme, you have to pay money yourself first. After that, only after the whole process is done, you are given a subsidy by the government.
In a way, understand that subsidy is given like cashback. However many people do not have money to get the connection installed. So from where should they get the subsidy? For such people, the bank has kept the loan option in the scheme. Under this, a loan of up to Rs 6 lakh can be taken from the bank.
This will be the structure of the loan
Under the Surya Ghar Yojana, there is a provision to give you a loan for installing two types of solar panel connections. In this, you are given a loan for installing a 3-kilowatt and a second 10-kilowatt solar plant. Which if you are installing a 3kW solar plant. Then you are given a loan of up to 2 lakhs.
In this, you have to bear 10% of the expenses yourself. So 90% amount is paid through a loan from the bank. If you are installing a 10kw solar plant, then you can get a loan of up to Rs 6 lakh. In this, you have to pay 20% yourself. Whereas a loan is given for 80%.
Apply for a loan like this
If you want to take a loan to install a solar plant under Surya Ghar Yojana, then you can go to your nearest bank branch. There you can get the form for this scheme fill the form and submit it along with all the related documents.
It can prove to be a good option
Many people do not have enough money to install a solar plant. Such people can benefit from getting a loan under the scheme. Because the loan is being given under the government scheme. So you will not have to pay much interest in this. However, it is necessary to first go to your bank and find out about this. Only then proceed with the loan process.
(PC: Freepik)
