UMUCB Roof Top Solar Plant Loan Scheme
Maximum Loan
₹ 10,00,000
Finance
80% of Project Cost
Repayment
60 EMIs + 3 Month Moratorium
Margin
20% of Plant Cost
Introduction
Solar energy is a free and endless source of energy. To make easy finance available at affordable rates to individual women and institutions where women are the main participants, the "UMUCB Roof Top Solar Plant Loan Scheme" has been launched. This scheme is available for both on-grid and off-grid connected SPV power plants.
Purpose — Type of Plants
Net Metering Available
On-Grid Connected SPV Plant
Connected to the electricity grid with net metering facility. Surplus power exported back to the grid, reducing electricity bills.
Battery Storage
Off-Grid Connected SPV Plant
Independent power system with battery storage. Ideal where grid connectivity is limited or uninterrupted power supply is critical.
On-grid SPV plant = net metering facility is available — surplus electricity is exported back to the grid.
Eligibility
Residential
Individual having own residential house
Applicant must be residing in the Bank's area of operation
Property on which solar plant is to be installed must be in applicant's name
If property stands in name of spouse / parents / children — written consent of the owner required with no-objection declaration
Institutional
Schools
Educational Institutions
Health institutions including Medical Colleges & Hospitals
Other institutions where women are the main participants
Quantum of Advance
Finance
80%
Maximum
₹10 L
Income Criteria
Salaried Employees
48× monthly income OR 4× yearly income
Institutions
4× Cash Accruals (PAT + Depreciation) from Audited Balance Sheet / P&L Account (avg. last 2–3 years)
Security
Loan up to ₹3,00,000
Hypothecation of the solar plant created out of the finance provided.
Loan above ₹3,00,000
Equitable mortgage of the property along with Hypothecation of the plant.
Any cash securities acceptable to the Bank.
Guarantee Norms
Loan up to ₹3,00,000
Two personal guarantees from two persons with adequate net worth.
Loan above ₹3,00,000
One third-party guarantee from a person with adequate net worth.
Finance
80% of project cost
Maximum Loan
₹ 10,00,000
Margin
20% of plant cost
Repayment
60 EMIs (incl. 3-month moratorium)
Interest Rate
As per Board decision (floating)
Grid Type
On-Grid & Off-Grid both eligible
Property Consent
If the property is in the name of spouse / parents / children, the owner must give written no-objection consent for establishing the SPV plant.
Moratorium
A 3-month moratorium period is included within the 60-month repayment schedule, giving borrowers time to commission the plant.