• J & K Bank PM Surya Ghar Muft Bijli Yojana

For Purchase & Installation Roof Top Solar Plants from registered/ empanelled suppliers/ vendors of Power Distribution Companies (DIS COMs)

  • Customers who have sufficient roof area  and roof top rights on which the installation is proposed, falling in any of below mentioned categories shall be eligible to avail loan under this scheme:

    • Employees of Government / Semi-Government Departments / Bodies/ Agencies   & Public Sector Undertakings and autonomous bodies .
    • Employees of Private Companies or Reputed
      Establishments with minimum 1 year’s association with the Current Employer and maintaining salary account with us. 
    • Professionals,  Self  Employed  Individuals  &  Businessmen 
      with at least 1 years of experience/ standing or at least  1 year old account(any type) with us.  
    • Pensioners of Govt drawing pension from our bank.
    • Persons engaged in agricultural and allied activities. 
     
  • Minimum age of Applicant: 18 years.  
  • Maximum age of Applicant at loan maturity:   75 years

Note: In cases where the Electricity bill is in the name of some elderly family member who is approaching or has crossed 75 year mark, loan facility can be granted by taking some younger family member (preferably son) as co-borrower.

  • 95% of total Cost of Solar Roof Top with capacity up to 3KW
  • 90% of total  Cost of Solar Roof Top with capacity above 3KW upto 10 KW
Note: In case of loans granted for construction/ purchase of dwelling units, cost of Solar Roof Tops can be included in the total project cost.
  • 05% for purchase of Solar Roof Tops with capacity upto 3 KW
  • 10%  for purchase of Solar Roof Tops with capacity above 3 KW

A.  Primary  :Hypothecation of Assets created out of bank finance.


B.  Collateral :NIL 

  • NIL for cases where the capacity of Solar roof Top is upto 3 KW

  • 0.25% of loan amount + GST (minimum Rs 1000/- + GST) for cases where the capacity is above 3 KW. 

  • Capacity of Solar

     Rate of Interest

     Upto 3KW

    RLLR – 2.45% (fixed) with monthly rests

        Above 3KW

    RLLR+0.55% (fixed) with monthly rests

  • Loans shall be repayable in a maximum of 81 Equated Monthly installments after expiry of moratorium. The EMI shall be refixed post credit of subsidy.
  • Prepayment shall be allowed without any prepayment/ Foreclosure charges.
  • All applications are to be first registered at https://pmsuryaghar.gov.in. This portal will assist the consumer in selecting a system of appropriate size, vendor selection etc.
  • After successful registration, loan can be applied digitally through Jan Samarth portal using link https://www.jansamarth.in. Integration with Jan Samarth portal has been done to ensure bidirectional flow of information to and from the National Portal to the respective financial institutions and to ensure tagging of loan account of consumer to the application on National Portal.

The process flow for consumer will be:


Step 1
Registration
  • Register on the portal using link  https://pmsuryaghar.gov.in
  • Select their state, District and Electricity Distribution Company.
  • Enter electricity consumer id, mobile number and email.

Step 2
Login for application

  • Login with Consumer Number and mobile No
  • Apply for Solar Roof Top as per application form
  • Enter name and other details as per Electricity Bill.
  • Upload Electricity Bill in Pdf format
  • Enter Bank details for receiving subsidy.

Step 3

  • Once feasibility approval obtained, get the plant installed by registered vendor

Step 4

  • Once installation completed, submit the plant details and apply for net meter.

Step 5

  • Commissioning certificate will be generated from the portal after installation of net meter and inspection by DISCOM.

Step 6

  • Once commissioning report obtained, subsidy claim will be processed.

Note:
The release of the Central Financial Assistance (CFA) is being operationalized through an e-token. The e-token will be generated after submission of application on the National Portal and will be visible on the consumer profile in the Portal. After the necessary documents have been uploaded and inspection by the DISCOM has been completed, the e-token shall be activated with the amount of eligible CFA (subsidy) as per the actual installed capacity. The e-token shall then be redeemed by the consumer by logging into his/her profile on the Portal and the CFA shall subsequently be released to the consumer account. Accordingly:

  • Operative levels shall follow-up with the beneficiaries to ensure that installation and commissioning of Solar Roof Top is carried out within prescribed time frame.
  • The beneficiaries must be impressed upon and it shall be ensured that subsidy claim/ redemption of E-token is triggered immediately after completion of installation.
  • The operative levels shall ensure that the loan account number is updated on the portal for subsidy claim/ redemption of e-token.
  • Rephasement of EMI post appropriation of subsidy in loan account shall be ensured in a time bound manner. 
  • As per the Administrative Council Decision No 94/0/2024 dated 25/07/2024 and Government order No 119-JK(PDD) of 2024 dated 31.07.2024, the subsidy structure of PM Surya Ghar Muft Bijli Yojana is tabulated below:


    Capacity

    Cost

    MNRE Subsidy

    UT Subsidy

    Total Subsidy

    Beneficiary share

    1 KW

    55,000

    33000

    3000

    36000

    19000

    2 KW

    110000

    66000

    6000

    72000

    38000

    3 KW

    159000

    85800

    9000

    94800

    64700

    4 KW

    209000

    85800

    9000

    94800

    114200

    5 KW

    258500

    85800

    9000

    94800

    163700

    • Subsidy is to be claimed by Borrower from Suryaghar.gov.in (MNRE website).
    • The consumer shall update the loan account details on PM Suryaghar portal so that subsidy, as and when received, is directly credited to the loan account. The borrower shall furnish to bank an undertaking in this regard.
    • Post credit of subsidy amount in loan, the EMI shall be rephased accordingly.
    • Change in cost of Solar Roof Top or subsidy component, if any made by Govt in future shall be applicable.
    Above mentioned is the indicative cost structure and actual cost for solar roof tops with capacity upto 5 KW as well as above 5 KW shall be based on the invoice drawn by the vendor through portal.
  • The assets purchased out of bank finance shall be insured at the cost of the borrower. However, at the request and undertaking of the borrower, requirement of insurance can be waived off in cases for purchase of Solar Roof Tops upto 3KW.