Solar Equipment Finance Scheme for Individuals

For Purchase & Installation Of Off-Grid Solar Lighting & Photo –Voltaic Systems (Solar Inverters). The Finance Shall Be Granted For The Purchase Of The System From Authorized Dealers Of Reputed Companies.

Confirmed Employees of: Government /Semi-Government Departments/Bodies/Agencies & Public Sector Undertakings.
Permanent Employees of Private Companies or Reputed Establishments with minimum 2 years association with the Current Employer and maintaining salary account with us.
Professionals, Self Employed Individuals & Businessmen with at least 2 years of experience in profession/business
Retired Govt. Employees with age not more than 70 years on maturity of loan.
Persons engaged in agricultural and allied activities.

Individuals: 12 times net monthly salary/ pension / income.
Persons engaged in agricultural and allied activities: Maximum of 2 times net annual income as certified by concerned Tehsildar.
The maximum quantum of finance shall not exceed Rs 50000.00

Primary
Nil
Collateral
Nil for Employees of J&K State Govt. / Central Govt. / Semi Govt. Departments/ Bodies/ Agencies and PSU’s maintaining salary accounts with our Bank.
For others- Third Party Guarantee of ONE person acceptable to Bank and having sufficient net worth to withstand the liability.