Soneri Renewable Energy Finance


Soneri Bank now offers Renewable Energy Finance for Solar Energy System. Individual customers can avail the facility up to Rs. 3M with hypothecation on solar energy system and from Rs. 3M to Rs.5M against additional tangible security on equal monthly installment basis with a convenient loan tenure.

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  • Lower mark-up rates
  • Fast and hassle free processing
  • Partial prepayment and early settlement option
  • Lower monthly installments

Features / Policy Parameters

Monthly Net Take-Home Salary/Income Min. Rs. 100,000/- for salaried individuals
Min. Rs.250,000/- for self-employed professionals/businessmen
Age Min. 25 years
Max. 65 years at loan maturity
Employment / Business Tenor Salaried Individuals:
– Total employment experience of at least 2 years for permanent employees and at least 3 years for contractual employees
Self-employed Professional/Businessmen:
– Min. 5 years in existing business
Eligibility – Salaried individuals of approved companies
– Salaried individuals who are maintaining their salary accounts with Soneri Bank Limited
– Self-employed professionals and businessmen who are maintaining their accounts with Soneri Bank Limited
Financing Amount Up to Rs.5 million
Loan Tenors 3, 5, 7 and 10 years
Minimum Equity 20% of the product/unit cost
Debt Burden Ratio 40% of the net take home salary/ income.
Co-borrower Spouse, parents, real siblings and real children
Collateral Requirement – Hypothecation over moveable asset/renewable energy system
– Tangible collateral (including mortgage of property) for financing above Rs. 3 Million