IND-SURYA SHAKTI

Solar power plants should be in accordance with the technical standards issued by MNRE and / or Central Electricity Authority

Both Onsite and Off-site Solar projects can be considered for MSME Borrowers under the scheme. While funding for offsite projects, following conditions to be complied.

For existing Customers enjoying credit facilities with our Bank:

• Land on which project is setup shall be owned / leased land. The lease period should cover the repayment period plus 3 years
• Connectivity with Power grid to be ensured.

In addition to above guidelines, for units not financed by our Bank and customer proposes to avail standalone credit facility under the scheme for offsite project, minimum 50% security by way of immovable properties / liquid securities to be ensured.

·         Collateral Security: EM of property on which solar plant is erected. If the property is mortgaged with other banks / FIs, NOC only to be obtained from the respective Banks / FIs.

·         Personal Guarantee: Partner / directors to be obtained.

Moratorium Period:

Roof Top Solar : Maximum 6 months

Others              : Maximum 12 months

Interest to be serviced during holiday period.