Solar Loans in India
Verified interest rates from leading banks under PM Surya Ghar Yojana
Top Banks Comparison
State Bank of India (Yono Surya Ghar)Most Popular
Interest Rate
5.75% - 10.15%
Tenure
Up to 10 years
Max Amount
₹6 Lakh (collateral-free up to ₹2 Lakh for ≤3kW)
Processing Fee
Nil (under PM Surya Ghar)
Bank of Baroda (Baroda Surya Ghar)
Interest Rate
7.00% - 9.15%
Tenure
Up to 10 years
Max Amount
₹6 Lakh
Processing Fee
Nil
Punjab National Bank
Interest Rate
~7.00% (MNRE benchmark)
Tenure
Up to 10 years
Max Amount
₹6 Lakh
Processing Fee
As per bank
Canara Bank
Interest Rate
7.00% - 10.95%
Tenure
Up to 10 years
Max Amount
₹6 Lakh
Processing Fee
Nil (PM Surya Ghar)
Union Bank of India
Interest Rate
7.00% - 10.05%
Tenure
Up to 10 years
Max Amount
₹6 Lakh
Processing Fee
Nil
Why take a solar loan?
Low EMI
Monthly savings often exceed EMI — free electricity from day one.
Collateral-free
Loans up to 3 kW available without collateral under PM Surya Ghar.
MNRE-backed
Rates and process standardized by central government.
Rates verified from banks' official websites as of February 2026. Actual rates may vary based on credit profile.