Go Solar With Confidence — Financed and Protected
Low-interest loans make the upfront cost easy to manage, and the right insurance keeps your investment safe for the next 25 years. Choose what you want to explore below.
Go Solar Without Paying Everything Upfront
The upfront cost of a solar system is the single biggest reason people delay switching — but you don’t need to pay the full amount out of pocket. Low-interest solar loans, several of them government-linked, mean your solar system can often pay for itself through electricity savings while you’re still repaying it. SauryaVeda helps you find and apply for the right financing option for your project.
Solar Loans for Homeowners
Several nationalized and private banks offer dedicated solar loan products, and many are linked to the PM Surya Ghar Muft Bijli Yojana, which keeps rates especially low on smaller loan amounts.
Indicative rates from major lenders (as of 2026):
- State Bank of India (SBI): 5.75% p.a. on loans up to ₹2 lakh, rising to roughly 8–9% p.a. above ₹2 lakh, for loans up to ₹10 lakh (up to 90% of project cost), repayable over up to 10 years including a 6-month moratorium.
- Bank of India: Rates starting at 5.75% p.a. on loans up to ₹6 lakh, on a daily reducing balance, with just a 5% margin required and no processing or prepayment charges.
- Punjab National Bank: Repo rate + 0.50% on loans up to ₹2 lakh, with rates above that depending on your credit score and any existing home-loan relationship with the bank.
- Indian Overseas Bank: 7% p.a. up to ₹2 lakh; loans up to ₹20 lakh available for individuals, with no separate collateral required for rooftop systems up to 10 kW.
How the government keeps rates low: For PM Surya Ghar-linked loans, the central subsidy (up to ₹78,000 for a 3 kW+ system) is typically adjusted directly against your loan — reducing your effective loan amount or tenure — rather than paid to you separately. This is what allows banks to offer the very low 5.75% rate on the first ₹2 lakh of your loan.
Typical terms across lenders:
- Margin/down payment: usually 10–20% of project cost (as low as 5% with some lenders)
- Tenure: typically up to 10 years
- Collateral: most rooftop residential loans up to 10 kW require no separate collateral — the system itself is hypothecated
- Processing fees: nil to minimal on most government-linked solar loan schemes
Rates, tenures, and eligibility are set by individual banks and NBFCs, and change periodically. SauryaVeda will confirm current rates and help you identify the best-fit lender for your project and location at the time of your quotation.
Financing for Businesses
Commercial and industrial solar isn’t eligible for the residential PM Surya Ghar loan scheme, but businesses have their own strong financing levers:
- Business/commercial solar loans: Banks and NBFCs offer dedicated commercial solar financing, generally at market commercial lending rates based on your business’s credit profile, project size, and existing banking relationship.
- Accelerated depreciation: As covered on our Government Subsidy page, businesses can claim 40% depreciation on solar assets under the Income Tax Act — a significant first-year tax benefit that effectively finances a meaningful share of the project through tax savings alone.
- Lease and PPA-style models: Depending on system size and your requirements, structured financing or third-party ownership arrangements may be available through our financing Partners, letting you go solar with little to no upfront capital in exchange for a fixed per-unit tariff.
How SauryaVeda Helps You Finance Your Project
Rather than approaching banks on your own, SauryaVeda:
- Assesses which loan schemes and lenders you’re eligible for based on your project size, location, and profile
- Connects you with vetted financing Partners — banks and NBFCs offering solar-specific loan products
- Helps prepare and submit the loan application alongside your EPC/installation paperwork
- Coordinates the subsidy adjustment (where applicable) so your loan reflects the correct, reduced principal
- Keeps you informed on approval and disbursement status through to installation
Financing is arranged through our banking and NBFC Partners under their own credit approval process and loan terms — SauryaVeda facilitates the connection and paperwork but is not itself a lender.
Get a Free Quote and we’ll help you find the right way to finance your system.
Sources used for figures on this page: Solar Loan Interest Rates in India, SBI Solar Loan Scheme, Accelerated Depreciation on Solar Panels
Protect the Investment You Just Made
A solar system is a 25-year asset sitting on your roof, exposed to the same fire, storm, and theft risks as anything else you own — but your equipment and workmanship warranty won’t pay out for a cyclone, a fire, or a burglary. That’s what solar insurance is for. India’s Ministry of New and Renewable Energy (MNRE) maintains an official list of insurers offering dedicated rooftop solar covers, and getting one is inexpensive relative to the protection it buys.
What Solar Insurance Actually Covers
A dedicated rooftop solar policy — or a solar-specific add-on to your existing home insurance — typically covers:
- Fire, lightning and explosion damage
- Storm, cyclone and hailstorm damage
- Flood and water damage
- Theft of panels, inverters and cabling
- Falling objects and accidental external damage
Coverage usually extends beyond the panels themselves to inverters, batteries, charge controllers, monitoring equipment, mounting structures and wiring.
What It Doesn’t Cover (And Why That’s Fine)
Insurance is not a substitute for your equipment warranty. Manufacturing defects, normal wear and tear, gradual output degradation, and damage from poor installation all fall outside a standard solar insurance policy — that’s what your panel and workmanship warranties are for. Insurance and warranty are complementary: one covers what goes wrong with the equipment, the other covers what happens to it from the outside.
For Homeowners: Two Ways to Insure Your System
- Home insurance add-on: The cheapest route — a solar-specific rider on your existing home insurance policy. Indicative pricing from major insurers runs around ₹125/year for ₹5 lakh of coverage.
- Standalone rooftop solar policy: A dedicated policy, typically priced at 0.2–0.5% of system cost per year — roughly ₹500–₹1,250/year for a ₹2.5 lakh residential system. Broader cover than a basic home-insurance add-on, and often the better fit for a larger or higher-value installation.
For Businesses: Asset-Level Cover
Commercial and industrial systems are usually insured as a standalone renewable energy asset rather than through a generic property policy — with higher sums insured, equipment breakdown protection, and the option to add business-interruption cover for the revenue or savings your rooftop system generates.
MNRE-Recognized Insurers
The Ministry of New and Renewable Energy maintains an official list of insurers offering dedicated solar power plant covers, including:
- New India Assurance
- ICICI Lombard
- HDFC ERGO
- Tata AIG
- IFFCO-Tokio
- Cholamandalam MS General Insurance
Exact rates, sums insured and policy terms vary by insurer, system size and location. SauryaVeda will help you compare options at the time of your quotation.
How SauryaVeda Helps You Insure Your System
- Recommends whether a home-insurance add-on or a standalone policy fits your system size and budget
- Connects you with insurers offering dedicated rooftop solar covers
- Helps document your installation — invoices, specifications and photos — for a smooth policy application
- Assists with claims documentation if you ever need to file one
Insurance is arranged through our insurance partners under their own underwriting terms — SauryaVeda facilitates the connection and paperwork but is not itself an insurer.
Get a Free Quote and we’ll help you protect your investment from day one.
Sources used for figures on this page: MNRE list of solar insurers, Solar Insurance in India, Solar Panel Insurance Guide