S. No.

Particulars

Guidelines

1

Target Group

All individuals having residential property (singly/jointly), having home loan with our Bank/any other Bank or without home loan from any bank, are eligible under UCO Suryodaya Loan Scheme.

2

Purpose

For Setting up of Grid connected RTS (Roof Top Solar) plants for residential purpose only

3

Age

i) Minimum age – 21 Years

ii) Maximum age up to 75 years including repayment period

4

Maximum Quantum of Finance

a)   Up to 3 KW : Maximum 2 Lakh

b)   Above 3KW: Maximum 6 Lakh

5

Margin

Loan with Capital Subsidy from Government

Subsidy will not be treated as margin

6

Repayment Capacity Criteria

7

Repayment Period

Maximum Repayment - 10 years including Maximum Moratorium Period of 6 months.

8

Security

Primary: Hypothecation of assets created out of bank finance.

9

Rate of Interest

(Floating)

a)   Capacity up to 3 KW : UCO Float Rate – 2.30% (Strategic Discount) i.e. 6.75% at present

b)   Capacity above 3 KW:

i)     For Individuals having home loan with our Bank: Applicable card rate for fresh home loan.

ii)    For Individuals not having home loan with our Bank:

1.00% over and above the applicable card rate for fresh home loan.

10

Disbursement

Disbursement (Loan Amount + Borrower’s Margin) to be made directly to the Vendor/EPC Contractor after submission of all the required feasibility reports as mandated by MNRE.

11

Credit Score Requirement

a)    A minimum CIBIL Score of 680 is required

b)    Individuals with no Credit History (score of 0 or -1) or Credit History not in the range of 300-900 are eligible

12

Subsidy

Amount of subsidy available at present, for various categories, is as follows:

13

Lead Generation

All applications must originate exclusively through Jan Samarth Portal.

14

Steps to Apply

Step 1. Register at Visit PM Surya Ghar Portal

Step 2. Apply for the loan at Visit Jan Samarth Portal