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 April 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: April 2026.
- SBI Surya Ghar Loan
Collateral-free loan up to ₹2 lakh for PM Surya Ghar at 7% (3 kW)
- 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.