Solar Loan

Get a Solar Loan with My Mudra in Quick and Easy Steps

Apply for Solar Loan

Quick, digital & hassle-free

By submitting, you agree to our .

Secure

Trusted

10k+ Users

Purpose: Your data is collected exclusively to check your loan eligibility and securely connect you with your chosen lending partner. We process this information strictly in accordance with RBI guidelines to facilitate your application. We do not sell your data, and it is used exclusively to facilitate your loan application.

Reduce your electricity bills and your carbon footprint with a solar loan. Avail solar loans with competitive rates and say yes to sustainability with My Mudra!

Last Updated: Sep 7, 2026

Trusted Nationwide

4.5

+12%

10K

Customers

Active users

+5%

70+

Banks

Partner banks

+8%

170

Branches

Nationwide

Solar Loan EMI Calculator: Plan Repayment Smartly

Use the solar loan EMI calculator to quickly and accurately calculate the EMI and easily plan your finances.

Select the loan amount, interest rate, and tenure, and view the EMI amount with the total repayable amount to understand the interest breakdown.

Loan Details

Loan Amount

₹

₹1,000₹100,000,000

Interest Rate

1%50%

Tenure

months

6 months180 months

Results

Monthly EMI

₹23537

Total Payable

₹564882

Interest Amount

₹64882

11.5%

Quick Guide

Solar Loan: What It is and How It Works

Solar loans are designed to support green initiatives and aid individuals in adopting a sustainable alternative power solution. Banks and financial institutions offer solar loans to cover the cost of purchasing and installing solar panels. With financial aid, people can smoothly transfer to solar energy from the grid without being burdened by the hefty initial cost.

Use the solar panel financing to pay for the purchase and installation cost and repay in affordable EMIs over an extended period. This financial solution allows you to benefit from sustainable solar energy and reduce electricity bills immediately, while the repayment responsibility is flexible with varying tenures.

Features of Solar Loans

Cost Efficiency

Divide the high installation cost with flexible monthly payments with solar finance.

Ownership Benefits

Hold ownership of the solar panels and obtain long-term savings with solar loans.

Instant Savings

With solar panels installed, start saving on electricity bills from day one.

Environmental Impact

Reduce carbon footprint and contribute to making the earth greener with solar energy.

Why Opt for a Solar Loan

A solar rooftop loan is specially designed to serve the green initiative. Learn what makes it a better financing option for solar panel installation compared to other types of loans:

Low Interest Rates

Starting at 7.00%, low interest rates on solar loans keep the overall cost within budget.

Flexible Tenures

With tenures ranging between 5 to 15 years, repayment is convenient.

Prompt Approval

Dedicated solar rooftop loan solutions make approval hassle-free.

Solar Loan Interest Rates from Top Lenders

Banks and Solar Financing Companies	Interest Rates (per annum)
State Bank of India	Starting at 6.75%
Bank of India	Starting at 7.00%
Punjab National Bank	Starting at 9.40% (fixed rates decided as per CIBIL score)
Canara Bank	Starting at 6.90%

Simple Online Process

How to Apply for Solar Loan Online

Application for solar loan with My Mudra is simple and entirely online.

Step 1

Step 1: Visit My Mudra website and navigate to the section on Solar Loans under the Loans tab.

Step 2

Step 2: Click the Apply Now button, enter the required details, and submit the application and the documents.

Step 3

Step 3: Wait for approval and install the solar panels.

Eligibility

Eligibility Criteria for Solar Loans

Eligibility for a solar loan is simple. Here's what you need to fulfill:

Age

Applicants must be between 18 to 65 years old.

Income

A minimum monthly income of Rs. 25,000 is required for approval on loan for solar rooftop.

Employment

Both salaried and self-employed individuals are eligible for solar loans. Salaried applicants with stable incomes are given priority.

CIBIL Score

A CIBIL score of 750 or above is required for approval.

Documents Required for Solar Loans

Documents

Proof of Identity

Aadhaar Card

Voter ID

Passport

PAN Card

Driver's License

Proof of Address

Aadhaar Card

Utility Bill

Income Proof

Latest salary slips

bank statements of the last three months

ITR of previous 3 years

Property Documents

Proof of property ownership where the solar installation will be set up

property tax receipts

Electricity Bill

Bills for the last three months

Why Choose My Mudra for Solar Loans?

At My Mudra, we assist individuals in procuring funds for solar installation — quick and easy. Here is why customers prefer us:

Competitive Interest Rates: Access market-leading rates starting from low figures.
No Collateral Required: Apply for a collateral-free solar loan on My Mudra.
Quick Approval: Submit your application with all required documents, and the loan will be processed quickly, often within 24 hours.
Flexible Repayment: Choose repayment tenures from 5 to 15 years with convenient monthly EMIs.
Ownership Benefits: Own the solar panels outright and access government incentives and added property value.
Environmental Contribution: Reduce your carbon footprint and contribute to making the earth greener.
100% Online Process: Apply, upload, and monitor your loan online with ease.
Dedicated Support: Our experts help you navigate your loan journey every step of the way.