Solar EMI Calculator

Yes, multiple financing options are available — bank loans (SBI, PNB, BOB) at 7-12% p.a., NBFC financing (Tata Capital, Bajaj Finance) at 10-18% p.a., and zero-cost EMI schemes for 6-12 months from select vendors.

For a 3 kW system costing ~₹1.2 lakh after subsidy, a bank loan at 9.5% for 5 years gives an EMI of approximately ₹2,500/month. Your monthly electricity savings of ₹1,500-2,000 offset most of the EMI.

PM Surya Ghar 2026 provides a direct subsidy (₹30,000-₹78,000) which reduces the loan principal. Some banks also offer special green energy loan rates (1-2% lower than standard rates).

If you have the cash, paying upfront saves interest costs. However, if interest rates are below 10%, taking a loan can make sense since your electricity savings effectively offset the EMI, making solar a self-paying asset.

Typically you need: Aadhaar card, PAN card, electricity bill, 3-month bank statement, income proof (salary slip or ITR), and the solar vendor's quotation. NBFCs may require fewer documents.