SURYA SHAKTI – SOLAR FINANCE - Business

Features

• Target Group : Existing and Prospective SME & Business enterprises, having requirement for installation of Solar rooftop / ground mounted grid connected systems.
• Facilities Available : Term Loan
• Quantum of Loan : Maximum: Rs.10 Crores
• Pricing : Attractive Interest rates based on rating of the Borrower/ External Rating or as per Scheme Specific Rating (if applicable) or as per extant guidelines of the Bank.
  EBR (Linked to Repo Rate and Currently EBR is Repo Rate + 2.65%) linked (for MSMEs) & 6 months MCLR linked (for Non-MSMEs)
• Borrower's Margin / Contribution : 20% (minimum) Deviation not permitted
• Repayment Period : 10 years (maximum incl. initial moratorium)
• Processing Fee/ Upfront Fee : 1% of Term loan amount + applicable GST (As per extant guidelines issued vide CPPD e-Circular no. CCO/CPPD-ADV/177/2018-19 dated 27.02.2019, a non-refundable 30% of applicable upfront fee will be recovered up-front during processing of the proposal which would be adjusted against the Upfront Fees recoverable at the disbursement stage)
• Other Charges : NA
• Special Feature :
  • For existing connections: Centralized Processing by Surya Shakti Cell (SSC), Mumbai & Sanction by respective Sanctioning Authority as per existing Delegation of Powers based on aggregate exposure.
  • For new connections: Centralized Processing & Sanction by Surya Shakti Cell (SSC), Mumbai