Solar Loan - Cheema Capital | Go Green with Solar Financing

Solar Loan Overview

A solar loan is a specialized financing option designed to help you install solar panels on your home or business. By switching to solar energy, you can reduce your electricity bills, increase your property value, and contribute to a greener environment.

At Cheema Capital, we offer solar loans with attractive interest rates, flexible repayment options, and quick processing to make your transition to renewable energy smooth and affordable.

Loan Amount

₹1,00,000 - ₹50,00,000

Interest Rate

Starting from 8.50% p.a.

Tenure

Up to 10 years

Processing Time

As quick as 3-5 business days

Features & Benefits

Attractive Interest Rates

Enjoy competitive interest rates starting from just 8.50% p.a. to make solar installation affordable.

Long Repayment Tenure

Spread your repayment over a period of up to 10 years to keep EMIs manageable.

High Financing Amount

Finance up to 90% of the solar system cost to minimize your initial investment.

Environmental Benefits

Reduce your carbon footprint and contribute to a cleaner, greener environment.

Subsidy Benefits

Take advantage of government subsidies and incentives for solar installations.

Tax Benefits

Avail tax benefits on interest paid under Section 80C and accelerated depreciation benefits for businesses.

Eligibility Criteria

Age between 21 and 65 years
Minimum monthly income of ₹25,000 (for individuals)
Stable employment or business for at least 2 years
Good credit score (preferably 700+)
Property ownership where solar panels will be installed
Property should have adequate sunlight exposure
Should not have any major defaults in the past

Required Documents

Identity Proof (Aadhaar Card, PAN Card, Passport)
Address Proof (Aadhaar Card, Utility Bills, Rental Agreement)
Income Proof (Salary Slips, Form 16, ITR for last 2 years)
Bank Statements for the last 6 months
Property Ownership Documents
Quotation from solar panel installer/vendor
Recent electricity bills (last 3 months)
Passport-sized photographs

Application Process

Initial Consultation

Discuss your solar energy requirements and get a quotation from an approved solar vendor.
Fill the Application Form

Complete our simple online application form with your personal details and solar system information.
Document Submission

Upload the required documents for verification and processing.
Verification & Credit Assessment

Our team will verify your documents, assess your creditworthiness, and may conduct a property inspection.
Loan Approval & Disbursement

Upon successful verification, your solar loan will be approved and disbursed directly to the solar vendor.

Frequently Asked Questions

What types of solar installations can I finance?

You can finance various types of solar installations including rooftop solar panels for homes, ground-mounted systems, solar water heaters, and commercial solar installations. Both on-grid and off-grid systems are eligible for financing.

How much can I save on electricity bills with solar panels?

The savings depend on your current electricity consumption, local electricity rates, and the size of your solar system. On average, homeowners can save between 50% to 90% on their monthly electricity bills. In some cases, you may even generate excess electricity that can be sold back to the grid.

Are there any government subsidies available for solar installations?

Yes, the Indian government offers various subsidies and incentives for solar installations. Residential customers can avail subsidies of up to 40% of the system cost for systems up to 3kW, and 20% for systems between 3kW and 10kW. Commercial establishments can benefit from accelerated depreciation benefits. Our team will guide you through the available subsidies during the application process.

What is the typical payback period for a solar system?

The payback period typically ranges from 3 to 7 years, depending on your electricity consumption, local electricity rates, and available subsidies. After this period, you essentially get free electricity for the remaining life of the solar system, which is typically 25+ years.

Do you have a list of approved solar vendors?

Yes, we have a network of approved solar vendors and installers who meet our quality and service standards. We can connect you with these vendors based on your location and requirements. Alternatively, if you already have a vendor in mind, we can evaluate them for approval.

What maintenance is required for solar panels?

Solar panels require minimal maintenance. Regular cleaning to remove dust and debris (usually 3-4 times a year) and occasional inspection of the system components are typically sufficient. Most solar installers offer annual maintenance packages, and many components come with warranties of 5-25 years.