Surya Shakti Solar Lighting Loan
Solar lighting is the future of Indian villages
Solar lighting is ideal for rural India. It is a cleaner, and more affordable alternative to traditional electric lighting.
Solar lighting curtails the use of expensive kerosene or grid electricity, freeing up income for other essential needs.
Product Information
India's rural regions are the most affected by power cuts and lack of power infrastructure. Rural households spend too much time without basic electric lighting at night.Our Surya Shakti Solar Lighting Loan product is designed to benefit rural houses who wish to have solar lights in their homes and free them from frequent power cuts and high electricity costs.
Eligibility
Members of SHG (Self-help Groups) who have availed a General Purpose Loan once are eligible for this loan product .
Quantum of Loan
The maximum loan amount under this scheme is Rs.4000/- depending on the model of the solar light that is chosen for their home and the cash flow of the household.
The maximum loan tenure is 12 months, repayable in monthly instalments.
Interest rate
This loan is available at an interest rate of 19% . Interest is not compounded and is on reducing balance.