Solar Loan from SBI, Eligibility and Rates

ALMM and inverter compliance: MNRE’s current ALMM page publishes solar PV module and cell lists, not an inverter list. Verify the inverter’s exact model documents and applicable scheme or DISCOM requirements separately.

Every month, thousands of Indian homeowners ask the same question: can I finance my rooftop solar system at SBI? The State Bank of India is where many families keep their salary account and their home loan, so it is a natural first stop. The answer is yes, through a product called the SBI Surya Ghar loan, which is separate from SBI’s business-focused Surya Shakti solar finance. This guide explains the published interest rates, who qualifies, what to carry, how the PM Surya Ghar subsidy fits in, and how SBI compares with IREDA and HDFC Bank on what each lender’s own page shows.

Direct answer. SBI’s own PM Surya Ghar loan page lists 5.75% per annum for loans up to ₹2 lakh and 7.90% per annum for loans above ₹2 lakh up to ₹6 lakh, floating and linked to EBLR (rates as on 15 December 2025, page updated 13 February 2026, read 14 October 2026), with a tenor of up to 120 months and nil processing fee. Register on the PM Surya Ghar portal first; the DISCOM approval is a prerequisite for the subsidy and the loan.

What the SBI Surya Ghar Loan Offers

SBI’s page (read 14 October 2026) describes a loan for individuals installing rooftop solar under PM Surya Ghar. The key parameters, as published:

The rate is floating and moves with SBI’s EBLR, so the figure can change after the date SBI printed on the page. Always confirm the current rate with the bank and ask for the sanction letter to show the rate, the benchmark and the reset frequency. The maximum project size is 10 kW and the maximum loan is ₹6 lakh.

₹78,000. The maximum central subsidy under PM Surya Ghar for a 3 kW or larger rooftop system (₹30,000 for 1 kW, ₹60,000 for 2 kW), credited after commissioning and DISCOM verification. Source - SBI Surya Ghar loan page, read 14 October 2026.

SBI Solar Loan Eligibility: Who Qualifies

SBI’s page sets the conditions below. Meeting all of them is the fastest path to approval.

Applicant and Project

The loan is for individual applicants. The page states age limits of 65 for a single applicant and 75 for a joint application (with the loan closed before the co-borrower reaches 75). The project must be a rooftop solar system of up to 10 kW.

Credit Score and Income

Up to ₹2 lakh, no minimum CIBIL score or income is required. For ₹2 lakh to ₹6 lakh, the minimum CIBIL score is 650, net annual income must be at least ₹3 lakh, and cases with a history of default or write-off are ineligible. A score is not the only factor; the bank also looks at repayment capacity. Check your CIBIL score before applying so there are no surprises at the branch.

Property and Subsidy Requirements

The page links the loan to PM Surya Ghar registration. The DISCOM approval and an installer using ALMM-listed modules are part of the scheme’s own rules, so a loan alone does not get the subsidy. The PM Surya Ghar eligibility rules are separate from the bank’s lending rules.

The SBI Solar Loan Checklist: Documents Before You Apply

Gather these before you apply. For loans up to ₹2 lakh, SBI’s page keeps documentation light (KYC and a copy of your electricity bill). For larger loans, the bank may ask for more, so confirm at the branch.

The Documents Framework

1. Aadhaar card (KYC).
2. PAN card: optional up to ₹2 lakh, mandatory above.
3. Electricity bill: the latest bill in your name for the property.
4. Income proof for loans above ₹2 lakh: whatever the branch accepts to show net annual income of at least ₹3 lakh.
5. PM Surya Ghar registration and DISCOM approval: the application number and approval from the national portal and your DISCOM.
6. Installer quotation: an itemised written quotation from an empanelled installer, naming ALMM-listed modules and the exact inverter model.
7. Asset insurance details for loans above ₹2 lakh (mandatory at your cost).

The branch retains copies and returns originals after verification; ask for the current checklist, as requirements vary.

How to Apply for an SBI Solar Loan: Step-by-Step

SBI’s page (read 14 October 2026) says to register at pmsuryaghar.gov.in first and then apply for the loan through jansamarth.in. A branch can guide you if you are unsure.

• Step 1: Register on the PM Surya Ghar portal: Select your state, DISCOM and consumer number, and apply for the rooftop system. Read the PM Surya Ghar application guide for a walkthrough.

• Step 2: Obtain DISCOM approval: Your DISCOM checks feasibility. This guide quotes no number of days because the time differs by DISCOM and no published source gives a reliable range.

• Step 3: Get a vendor quotation: Choose an empanelled installer and obtain a written, itemised quotation naming the exact module and inverter models.

• Step 4: Apply for the loan: Apply on jansamarth.in as SBI’s page directs, or at the branch nearest to the installation site, with the documents above.

• Step 5: Sanction and disbursement: SBI appraises the application. Ask the branch for the sanction letter showing the rate, benchmark, tenor and moratorium, and how funds go to the installer.

• Step 6: Commissioning and subsidy: The installer commissions the system and the DISCOM verifies it. The central subsidy (up to ₹78,000 for 3 kW) is then credited, and you use it to prepay principal.

EMI Estimates: What the SBI Solar Loan Costs Each Month

The table below uses SBI’s published rates for four example loan amounts. The loan amounts are examples, not system costs; your quotation sets your amount. EMIs are calculated here and should be checked against the bank’s amortisation schedule.

Compare your EMI with your own electricity-bill saving, which depends on your tariff, consumption and generation. This guide quotes no saving figure for your house. If the EMI is higher than the saving, a longer tenor lowers the EMI at the cost of more total interest (₹63,446 over 10 years against ₹30,601 over 5 on ₹2,00,000 at 5.75%). Ask the branch whether the 7.90% slab applies to the whole loan or only the part above ₹2 lakh.

SBI vs IREDA vs HDFC Bank: What Each Lender’s Page Shows

Not every homeowner should default to one lender. This comparison is limited to what each lender publishes on its own page (read 14 October 2026); no rate is quoted for lenders whose pages were not read.

SBI (State Bank of India)

What it shows: The SBI Surya Ghar loan: 5.75% up to ₹2 lakh and 7.90% above ₹2 lakh up to ₹6 lakh, floating, with up to 120 months, nil processing fee and no prepayment penalty.

Points to check: The CIBIL, income and insurance conditions above ₹2 lakh, the floating rate, and branch practice on documents and timelines.

Best for: Homeowners financing a PM Surya Ghar rooftop system of up to 10 kW.

IREDA (Indian Renewable Energy Development Agency)

IREDA lists a rooftop solar PV scheme for industrial, commercial and institutional borrowers and none for households. Its rates are set by borrower grade in an interest-rate matrix; no household rate appears. For a homeowner, IREDA is not a direct lender, so the IREDA solar loan guide explains what it does and does not offer.

Best for: Businesses and institutions reading IREDA’s scheme document.

HDFC Bank

HDFC Bank’s pages show no solar-specific or Green Home Loan product. Its Personal Loan is advertised from 9.99% per annum, with the EMI calculator running from 9.99% to 24% and tenures of 1 to 7 years. On a ₹2,00,000 loan over 5 years, 9.99% costs about ₹54,905 in interest against about ₹30,601 at SBI’s 5.75% (both calculated here). See the HDFC solar loan guide.

Best for: An existing HDFC customer who needs unsecured credit and accepts a higher rate.

Other Banks and NBFCs

Other banks and NBFCs also lend for rooftop solar. This guide quotes no rate for them because their own pages were not read; use each bank’s own PM Surya Ghar loan page and compare the rate, margin, tenor and fees in writing.

PM Surya Ghar + SBI Solar Loan: How They Work Together

The PM Surya Ghar Muft Bijli Yojana coordinates the portal, the DISCOM, the installer, the bank and the homeowner into one workflow, and the SBI Surya Ghar loan is built for it. The journey runs as follows:

1. Register on the PM Surya Ghar portal and apply for the rooftop system.
2. Obtain the DISCOM approval.
3. Get an itemised quotation from an empanelled installer.
4. Apply for the SBI loan (jansamarth.in or the branch).
5. The loan is sanctioned and funds go to the installer.
6. The system is installed and commissioned, and the DISCOM verifies it.
7. The central subsidy is credited after verification.
8. Apply the subsidy credit to reduce the loan principal.

For a deeper look at the PM Surya Ghar scheme eligibility criteria and how the subsidy amount is calculated, those posts cover each aspect in detail.

Common Mistakes Homeowners Make With SBI Solar Loan Applications

• Confusing Surya Shakti with Surya Ghar: Surya Shakti is a business loan; a homeowner applies for the Surya Ghar loan.
• Applying before the DISCOM approval: finish the PM Surya Ghar registration and approval first so the paperwork matches.
• Submitting a quotation without model numbers: the bank and the DISCOM rely on the exact module and inverter models. The MNRE ALMM list covers solar modules and cells, not installers or inverters.
• Using the subsidy as a down payment: the subsidy is credited after commissioning; fund the full cost through the loan and prepay with the subsidy.
• Ignoring the slab: above ₹2 lakh the page lists 7.90% and extra conditions (CIBIL 650+, income of ₹3 lakh+, PAN, asset insurance). Size the loan with that in mind.
• Choosing an undersized system just to cut the EMI: the saving only covers the EMI when the system matches your consumption. Use the solar inverter sizing guide to size it before approaching any lender.

The broader context for financing decisions (including CAPEX versus OPEX models and accelerated depreciation for self-employed applicants) is covered in the solar inverter financing options guide.

Where Qbits Fits in the SBI Solar Loan Journey

Qbits is an inverter manufacturer. It does not lend, install systems or approve subsidy, so the loan, the subsidy and the installation belong to your bank, the DISCOM and your chosen installer. Qbits’ part is the inverter named in your quotation, which should perform for the full life of the system, not just the loan.

• Hybrid Inverters: Review current QBH model documents and confirm the exact battery, firmware, PV, backup-output, transfer, communication, warranty and project requirements in writing.
• String Sizing Calculator: confirm the panel-inverter string configuration before the installer finalises the quotation submitted for the loan; an undersized or oversized string configuration affects yield and warranty validity.

Contact Qbits with questions about an inverter model named in a quote. Installers can apply through become our partner, and owners can find service through the authorised service partners.

How to Maximise Returns From an SBI Solar Loan

• Apply the subsidy as a principal prepayment: Worked example (calculated here): a ₹2,00,000 loan at 5.75% over 10 years has an EMI of about ₹2,195. After 12 EMIs the principal is about ₹1,84,758; a ₹78,000 prepayment brings it to about ₹1,06,758. Keeping the same EMI closes the loan in about 56 more months instead of 108 and saves about ₹37,000 in interest.

• Register for net metering as soon as the system is commissioned: Net metering credits reduce your electricity bill further. The net metering application process in India requires a separate application to the DISCOM after installation.

• Understand payback against loan tenure: The solar inverter payback period depends on your quote, tariff and consumption, so calculate it with your own numbers before choosing a tenure.

• Claim accelerated depreciation if it applies to you: Business owners who install solar at a property used for business can claim 40% accelerated depreciation in the first year under the Income Tax Act, which reduces the effective cost. Consult a chartered accountant to confirm eligibility.

Sources (read 14 October 2026): SBI Surya Ghar loan page (rates as on 15 December 2025; page updated 13 February 2026); SBI Surya Shakti page; IREDA loan schemes; HDFC Bank personal loan.