Partnership23 Apr 2024, 06:53 pm
Tata Power Solar Systems Limited Partners with Indian Bank for Affordable Solar Rooftop Adoption in Residential Segment
AI Summary
Tata Power Solar Systems Limited (TPSSL) has announced a strategic partnership with Indian Bank to facilitate financing solutions under the Pradhan Mantri Surya Ghar Muft Bijli Yojana for solar rooftop installations in the residential segment. The partnership offers loans up to INR 2 lakh with an annual interest rate of 7% for installations up to 3 KW under the PM Surya Ghar Muft Bijli Yojana scheme. For installations exceeding 3 KW up to 10 KW, loans up to INR 6 lakh are available with a margin money requirement of 20% and interest rates ranging from 8.4% to 10.8% per annum.
Key Highlights
- Tata Power Solar Systems Limited (TPSSL) partners with Indian Bank for solar rooftop financing
- Collaboration supports PM Surya Ghar Muft Bijli Yojana scheme for affordable solar installations
- Homeowners can avail loans of up to INR 2 lakh with a 7% annual interest rate for installations up to 3 KW
- Loans up to INR 6 lakh are available for installations exceeding 3 KW with a margin money requirement of 20% and interest rates ranging from 8.4% to 10.8% per annum