Apply for Bank of Baroda PM Surya Ghar Yojana Loan 2025
Under the government guidelines, the Bank of Baroda provides loans for the PM solar panel Yojana (PM Surya Ghar Yojana) with 0 processing fees. The Bank of Baroda gives the lowest interest rate, starting from 6.0%, without any income document for loans up to 2 lakh rupees.
Any customer of a house owner can apply for the PM Surya Ghar Yojana loan from Bank of Baroda with minimum document charges. Using the government guidelines, anyone can get a loan for the PM solar panel Yojana and install the solar panel on the rooftop with easy EMI from the Bank of Baroda.
Bank of Baroda PM Surya Ghar Yojana Loan Benefits
There were lots of benefits provided by the Bank of Baroda for individual house owners who want to install solar panels under the scheme of PM Surya Ghar Yojana. Bank of Baroda loan benefits for PM solar panel installation.
Up to 90% Finance: The Bank of Baroda provides up to 90% of the loan of the total amount under the PM Surya Ghar Yojana.
No foreclosure charges: Bank of Baroda does not charge any amount on the foreclosure of the loan.
No income document: To apply for a Bank of Baroda loan for the PM solar panel Yojana, you do not require any income document for loan amounts up to 2 lakh rupees.
Lowest ROI: The Bank of Baroda provides the lowest ROI, starting from 6%; it can vary according to the application.
Subsidy: Bank of Baroda also provides the subsidy as the government declares for customers who installed solar panels under the PM Surya Ghar Yojana, a subsidy of up to 78000 rupees.
Floating and fixed rate: Bank of Baroda gives both interest options, floating and fixed; the user can select as convenient.
Apply Loan Bank of Baroda for PM Surya Ghar Yojana 2025
The Bank of Baroda accepts loan applications for the PM Surya Ghar Yojana online. Applicants can apply for a loan online by following the steps below.
Go to the official website:
first of all, the applicant visit to the official website of the Bank of Baroda PM Surya Ghar Yojana loan: https://bankofbaroda.bank.in/personal-banking/loans/other-loans/pm-suryaghar-yojana-bundled
Go to the Apply Now:
On this page, click on the "Apply Now" button. After clicking on the Apply Now button, if you are an existing Bank of Baroda customer, then click on yes for the process, or if not, select no and click on the proceed button.
Fill the loan application form:
Now the loan application form will be open on the screen; you have to fill out the application with the required details. After giving the detail, click on the "Generate OTP" button. After entering the OTP, the main application form will be open, and you have to fill in every detail with the proper documents.
If you want to know the EMI of your loan and calculate the EMI, click on the EMI calculator and enter the loan amount, tenure, and interest rate; the EMI amount will be shown.
After completing filling out the application form, click on the "Submit" button, and your application will be successfully submitted to the bank. The submitted application detail will be delivered to the registered mobile number. In the future, you can check the application status of the loan.
Eligibility Criteria of Bank of Baroda PM Surya Ghar Yojana Loan
The Bank of Baroda shortlisted some eligibility criteria for the applicant who applies for the loan for the PM solar panel Yojana.
- A resident of India who is an individual, single or jointly salaried, or a business, professional, or agriculture person can apply for the loan.
- Any house owner who has a residential property with the same name as the applicant can also be eligible.
- Installation for residential purpose up to 10 kilowatts is eligible
- The minimum limit of the loan is 50000, and the maximum limit of the loan is 600000.
- The applicant's minimum age is 21 for this loan application.
Documents Required for Bank of Baroda PM Surya Ghar Yojana Loan
There were some required documents, said by the Bank of Baroda, for the loan application of PM Surya Ghar Yojana.
- KYC documents of applicants and co-applicants are mandatory.
- Salary slip for the last 3 months and form number 16 or ITR.
- Income tax return for the last 2 years.
- Latest income certificate from the local competent revenue authority.
- Latest electricity bill.
- No income document is required for loans up to 2 lakh rupees.
If there was any other required document, it would have been asked for by the bank when the application started. The bank officer will guide you to collect those documents required, and you will provide those documents to the bank.
Bank of Baroda PM Surya Ghar Yojana Loan Fees & Charges
The Bank of Baroda has some fees and charges for the loan application of the PM solar panel Yojana.
Processing fees: depositing fees is zero as per the government guideline under the scheme.
Other fees and charges: the stamp duty is applicable as per the guidelines of the state government.
If any other charges are required, then the bank officer will tell you about the fees or charges you have to pay to complete the application process.