Solar Loans in India
Verified interest rates from leading banks under PM Surya Ghar Yojana
Top Banks Comparison
State Bank of India (SBI Surya Ghar Loan)Most Popular
Interest Rate
5.75% p.a. up to ₹2L · 7.90% for ₹2–6L (floating)
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 (PM Suryaghar Yojana Loan)
Interest Rate
5.75% p.a. up to ₹2L · from 7.90% for ₹2–6L (floating)
Tenure
Up to 10 years
Max Amount
₹6 Lakh
Processing Fee
Nil
Punjab National Bank
Interest Rate
Verify current rate on official PNB page
Tenure
Up to 10 years
Max Amount
₹6 Lakh
Processing Fee
As per bank
Canara Bank (CRTS – PM Surya Ghar)
Interest Rate
Verify current rate on official Canara page
Tenure
Up to 10 years
Max Amount
₹6 Lakh
Processing Fee
Nil (PM Surya Ghar)
Union Bank of India
Interest Rate
Verify current rate on official Union Bank page
Tenure
Up to 10 years
Max Amount
₹6 Lakh
Processing Fee
Nil
Rates last verified from official bank websites in Jul 2026; all rates are floating and subject to change. Always confirm the current rate on the bank's official website before applying. PM Solar is not a lender.
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 July 2026. Actual rates may vary based on credit profile.
Sources & Verification
Every claim on this page is verified against the official sources below. Last verified: July 2026.
- SBI Surya Ghar Loan
Collateral-free loan up to ₹2 lakh for PM Surya Ghar from 5.75% p.a. (floating, ≤₹2 lakh)
- Bank of Baroda — Solar Roof-Top Loan
Personal solar loan with attractive interest rates
- Canara Bank — Solar Rooftop Loan
Solar rooftop financing for residential consumers
- PNB — Solar Home Loan
PNB rooftop solar loan scheme
- PM Surya Ghar Portal — Loan Section
Official partner-bank list & application portal
- MNRE — Ministry of New and Renewable Energy
Scheme guidelines and policy notifications
Disclaimer: PM Solar is an independent NGO, not a government body. For official applications and final subsidy amounts, please refer to the government portals linked above.