Target Group
All MSMEs, Mid Corporate & Large Corporates.
Purpose
Setting up solar power plants for captive consumption.
Solar power plants should be in accordance with the technical standards issued by MNRE and / or Central Electricity Authority
Types of Facility
Term Loan
Loan Amount
No Ceiling
Margin (Promoter’s contribution)
25% on the cost of the equipment & erection charges
Security
· Primary Security: Assets purchased out of loan
· Collateral Security: EM of property on which solar plant is erected. If the property is mortgaged with other banks / FIs, NOC only to be obtained from the respective Banks / FIs.
· Personal Guarantee: Partner / directors to be obtained.
Repayment
Repayment Period : Door to Door Tenor: 15 years
Moratorium Period:
Roof Top Solar : Maximum 6 months
Others : Maximum 12 months
Interest to be serviced during holiday period.
Processing & other charges
All Charges at Card Rate
Credits – Indian Bank