A term finance facility for customers willing to install solar energy equipment for generation of electricity ranging from 4 KW to 1000
KW with net metering.

Features and Benefits:

• Customized financing solutions
• Affordable mark-up rates
• Repayment tenure of up to 5 years
• Limit Enhancement facility
• Replacement Financing (Post Facility Pay-off)

Commercial, SMEs & Agri Business

• Clean e-CIB report
• Proof for being in the business for at least three years (not applicable for Agri customers)
• Utility bills of last 1 year (not applicable for Agri customers)
• Non-objection certificate from all owners in case of joint property
• Installment amount not to exceed 20-30% over and above 3-month peak bill average (not applicable for Agri customers)
• Load applicability assigned by respective DISCO & Vendor survey report

Suppliers:

Must be registered by Alternative Energy Development Board. Payments shall only be made to pre-approved vendors / suppliers

Mark-up Rate:

Variable Rate (Linked with Kibor + Spread) as approved by approving authority.

Frequency of Payments:

Principal: Monthly / Quarterly / Bi Annually
Mark-up: Monthly / Quarterly

Financing Tenure:

Up to 5 years with 3-month grace period

Down Payment:

• Self-Owned Premises & Agri Facilities: 20%
• Rental & Leased Facilities: 25%

Security:

• Hypothecation of Equipment
• Personal Guarantees
• Security Cheques
• Insurance
• Mortgage of property, cash / cash equivalent securities (shall be case dependent)

Limit Caps:

(adequate collateral as per bank policy is required for following cases)

• › Rental Premises Residential customers: above 2.5 million
• Owned Premises Residential customers: above 4.0 million
• SMEs & Commercial businesses: above 10.0 million
• Agri Customers / Business (Farming / Non-Farming): collateral equivalent to loan amount shall be taken for all cases
• Maximum Loan Amount for single borrower: 400 million

Processing Charges:

As per Schedule of charges (SOC)

Insurance:

Insurance for the first year will be charged upfront with down payment and will be built in instalments for remaining years