EMI Lower Than Electricity Bills • Government Subsidy • Green Financing
A Solar Panel Loan is a smart and convenient financial solution that enables homeowners, businesses, and industries to install rooftop solar systems without paying the entire cost upfront. Instead, the total cost is divided into easy monthly EMIs, making the shift to solar energy both affordable and accessible.
By choosing a solar panel loan, you can lower your electricity bills, reduce dependency on conventional power sources, and actively contribute to a greener, more sustainable future. It's an ideal way to embrace renewable energy without putting a strain on your finances.
Flexible repayment period
Solar panels act as security
High-value financing
For business applicants, minimum 5 years of operational history required.
Minimum annual turnover requirement for business solar loans.
Personalized guidance throughout solar installation and financing process.
Digital processing with minimal paperwork requirements.
Loan EMIs typically lower than your current electricity bills.
Covers solar panels, inverters, batteries, and installation costs.
Score-based assessment for faster loan processing and approval.
7.99% flat rate or 12.5% reducing balance rate onwards.
Plan your repayments smartly using our Solar Loan EMI Calculator. Simply input the loan amount, tenure, and applicable solar panel loan rates to get an instant monthly EMI estimate. This helps you choose the most suitable loan offer as per your repayment capacity.
Calculate Your Solar Loan EMI| Particulars | Charges |
|---|---|
| Loan Processing Fees | 0.2% to 0.6% of loan amount |
| Loan Cancellation | 1% of loan amount |
| Stamp Duty Charges | As per actuals |
| Legal Fees | Nil |
| Penal Charges | Nil |
| Technical Inspection | As per actuals |
Note: Other charges may include documentation charges, verification charges, duplicate statement charges, NOC certificate charges and swap charges.
Visit FastterFinance.com, click on Loans menu, and choose Solar Loan option.
Click on "Apply Now" button to begin your application.
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Provide loan details including amount and purpose.
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Invest in solar rooftop panels and reduce your energy bills while promoting a greener future. Apply for a solar loan with us and take the first step toward sustainable energy adoption!
Yes, solar panel loans allow you to install solar systems on EMI. The loan covers complete installation cost including panels, inverters, batteries, and labor, payable in easy monthly installments.
Cost varies based on capacity: 1kW system ₹70,000-₹90,000, 3kW ₹2-₹2.5 Lakh, 5kW ₹3.5-₹4.5 Lakh, 10kW ₹6-₹8 Lakh. Commercial systems cost ₹40,000-₹60,000 per kW.
Starting from 7.99% flat rate or 12.5% reducing balance rate. Rates vary by lender, loan amount, tenure, and applicant profile. MSMEs may get subsidized rates.
Yes, Central Government offers 40% subsidy for 1-3kW systems, 20% for 4-10kW. State governments offer additional subsidies. PM-KUSUM scheme for agricultural solar.
Immediate savings on electricity bills. Typically, ROI in 3-5 years. Break-even point depends on system size, electricity consumption, and solar generation.
Yes, most lenders allow prepayment after minimum 6-12 months. Prepayment charges may apply (usually 2-3% of outstanding). Some offer free prepayment for solar loans.
Typically no additional collateral required. The solar system itself acts as primary security for the loan amount.
Maximum 84 months (7 years). Some lenders offer up to 10 years for commercial solar projects. Longer tenure means lower EMI.
Yes, accelerated depreciation (40% in first year) for businesses. Interest component may be tax-deductible. Residential users may get state tax rebates.
Homeowners, businesses, industries, MSMEs, educational institutions, hospitals, hotels, and agricultural users. Minimum criteria apply based on applicant type.